Firstly, it is not true that financial advisers are not planners. Many financial advisers are already helping their clients to do budgeting, tax planning and estate planning.  However, this is often done on a “by-the-way” basis and may not be conforming to the professional standards.

Secondly, for a comprehensive financial plan to be conducted, it will require significant time and effort. For those who are commission-based may find it not worthwide to do a comprehensive plan for their clients because there is no guarantee clients would purchase products. Moreover, there is a good chance that the output of the plan does not require purchase of products. If the client do not purchase product, significant time and effort to develop the plan would have been wasted. Thus for practical reason, a fee is normally charged to develop a comprehensive financial plan that adheres to the professional standard which the planner subscribes to.