Holistic Planning: The Future of Financial Advice

Financial planning is evolving beyond isolated solutions. As a result, the future lies in holistic financial planning—an approach that integrates every aspect of a client’s financial life.

Emily Millsap, Manager of Financial Planning at Avantax Wealth Management, envisions a world where advisors seamlessly combine emotional well-being, tax strategies, retirement goals, and investment management into a single, cohesive plan.

Why Holistic Planning Matters

Traditionally, financial advice has operated in silos—taxes, investments, and estate planning were treated separately. However, holistic planning eliminates these barriers, ensuring that every financial decision works together more effectively.

For example:
When it comes to retirement planning, it’s not just about savings. Instead, it must also include tax efficiency, healthcare costs, and emotional preparedness for life after work.

Similarly, investment strategies should align with estate planning and long-term wealth transfer goals.

Moreover, tax planning must consider current income, future withdrawals, and wealth preservation strategies.

A Unified Approach to Financial Well-Being

In addition, Emily emphasizes that holistic planning fosters greater collaboration and transparency, both between advisors and clients and within advisory teams. By taking this approach, advisors deliver comprehensive, personalized advice that aligns with clients’ values and long-term goals.

These insights are inspired by the latest episode of The Connected Advisor podcast featuring Emily Millsap, Manager of Financial Planning at Avantax Wealth Management. Dive deeper into how financial therapy transforms traditional advice. Listen to the full episode here and explore more articles in this series.