What Should You Know About Planswell?

Planswell was established in 2016 by its CEO, Eric Arnold, in Canada. Planswell has reduced their staff from its peak of around 40 people. The deal for Eric Arnold and his partners to repurchase the company was finalized in late 2019. During the first part of 2020, they relaunched with fewer than ten workers.

Planswell is a new player in the Canadian financial planning market, and it came up with a strategy that sets it apart from its competitors. Its web programme is its key selling feature because it allows investors to complete a brief survey and receive a free financial plan. Here are Planswell Reviews you should know.

Advisors for Planswell

After the relaunch, Planswell made significant adjustments to its business model. Planswell used to do much of its work in-house if you signed up with one of its advisors. 

Hundreds of advisors from a wide variety of firms across Canada are working with Planswell as partners. Planswell's advisors are independent contractors, so you'll work with the one you choose for any investment, mortgage, or insurance transaction. 

Making Planswell Reviews is difficult because the human financial planning services each financial advisor offers will be different. 

What is Planswell's business model?

Planswell generates revenue by charging a fixed monthly charge to the advisers with whom it has formed partnerships. In exchange for your business, Planswell grants you access. Planswell is now a lead generation company but with more features. 

Financial Plan

If you sign up for one of Planswell's advisors, the advisor will determine which assets are best for you. Most suggest expensive mutual funds rather than low-cost ETFs or a diversified stock portfolio. However, it will ultimately depend on the advisor. 

Conclusion

Planswell's free financial plan is an intriguing service for Canadians, and you may want to try it. However, you should be warned that you will likely receive a cold call or email from an advisor trying to convince you to join up for their services. You should know about Planswell Reviews before joining them.