Advisers often pride themselves on their service and proposition, while shrugging off the issue of cost. Now Adviser Home has come up with a formula to determine the real value of advice...
Adviser Home argued those who say price should not come into the equation of determining the value of advice are taking an "overly simplistic view". "We suggest you can only understand value when you bring price into the equation," the consultancy said. To this end its new formula divides the benefits received by the client by the price of the advice to determine the value of the advice. In practice this should mean "the higher the price, the lower the value - assuming constant benefits," the firm said. Turning back on price Being able to communicate value to clients arguably...
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