Our guest this episode is Meagan Balaneski — Portfolio Manager and Certified Financial Planner® with Aligned Capital Partners in Vermilion, Alberta. Meagan earned a place on the CFP® President’s List for top exam performance in 2013 and recently won the FPAC 2025 Financial Planning Award.

In this conversation, Dave and Meagan explore both the opportunities and challenges shaping the financial planning industry today. They dig into what a great financial plan actually is, why meaningful planning starts with deep, thoughtful questions and the strengths and weaknesses of the traditional Assets Under Management model. Meagan shares her perspective on the growing advice-only movement, fiduciary standards under the new RFP rules and whether products like cash value life insurance are being overused. They also tackle practical topics like disability insurance, insuring children and why there is so much misinformation around RRSPs.

Whether you work in financial planning, are seeking advice, or are simply curious about how the industry is evolving, this episode offers a thoughtful, insider look at where financial planning is headed.

 

Show Notes

(00:00) Intro & Disclaimer

(00:55) Introduction to Meagan Balanski

(04:54) Meagan’s Recent Financial Planning Award and Flow State

(08:46) What is a Financial Plan? 

(10:09) Why Great Financial Planning Starts With Deep Questions

(12:29) The Assets Under Management Model

(15:30) Challenges of the Advice-Only Model and Implementation Gaps

(20:03) Reasons for Concern and Optimism About the Financial Planning Industry

(26:25) Fiduciary Responsibility and the New RFP Standard

(29:27) Is Cash Value Life Insurance Overused?

(34:15) Disability Insurance

(37:31) The Pros and Cons of Insurance on Children

(41:31) Is the Media Too Harsh on Financial Advisors?

(45:08) The Opportunity for Micro-Modular Financial Planning in Canada

(48:34) Debunking Misinformation About RRSPs

(50:42) Conclusion