Pressed by a Wall Street analyst, Bill Crager defines 'financial wellness,' a touchy-feely 'Hallmark' concept that just happens to be sweeping the financial services industry

Was nobody around 10 to 15 years ago as unnamed advisors were talking about "Holistic" advice? How is this different? "It's centered around an expanding definition of financial advice and the role of an advisor," To funny!

Maybe this will help? https://www.financialplanningassociation.org/article/journal/SEP20-introducing-hierarchy-financial-wellness

Agree Frank. It's about naming what advisors do... should be doing... etc. It has to be about what the end result a person wants to achieve and include all the other spokes of a person's life. I think holistic... has a certain air about it for some people. Financial wellness I think is a more marketable phrase pertaining to the same thing. I did a search on financial wellness and it was interesting how many definitions were from the last few years. Just that I find, even when looking at the spokes in a person's life, it's not "balanced" -- where lets say every area gets a 5, 9 or 10, etc. It's more about a picture of what having and living a full-filled life is about.

Agree Frank. It's about naming what advisors do... should be doing... etc. It has to be about what the end result a person wants to achieve and include all the other spokes of a person's life. I think holistic... has a certain air about it for some people. Financial wellness I think is a more marketable phrase pertaining to the same thing. I did a search on financial wellness and it was interesting how many definitions were from the last few years. Just that I find, even when looking at the spokes in a person's life, it's not "balanced" -- where lets say every area gets a 5, 9 or 10, etc. It's more about a picture of what having and living a full-filled life is about.