Transcription of The buck stops here: Putting a value on your value ...
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The buck stops here: Putting a value on your value ...
The value proposition of advice is changing. The nature of what investors expect from advisors is changing. And fortunately, the resources available to advisors are evolving as well. In creating the Vanguard Advisor s Alpha concept in 2001, we outlined how advisors could add value , or alpha, through relationship-oriented services such as providing cogent wealth management via financial planning, discipline, and guidance, rather than by trying to outperform the market. Since then, our work in support of the concept has continued. This paper takes the Advisor s Alpha framework further by attempting to quantify the benefits that advisors can add relative to others who are not using such strategies. Each of these can be used individually or in combination, depending on the strategy.
not portfolios. This is why beginning the client relationship with a financial plan is so essential. Not only does it promote complete disclosure about investments, but more important, it provides a perfect way for clients to share what is of most concern to them: their goals, feelings about risk, family, and charitable interests.
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