Thursday, 08 March 2018 11:21

How to Show Your Value in Client Reporting

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(New York)

The big question mark for advisors is whether they will need to keep cutting their fees in an effort to make themselves competitive with robo advisors. Bolstering additional services is another way to defend fees, but getting credit for these is difficult. Therefore, advisors might want to adopt an approach Ron Carson, from the Carson Group, uses. That method is to send clients not only an investment performance report, but also a “relationship timeline”, which shows all the services you have provided them, such “as the sale of a business or the analysis of expected Social Security benefits”, but could also including helping find mortgages, assisting with travel etc.

FINSUM: People are always very price-oriented and it becomes very easy for clients to forget just how much an advisor does. This seems like a good way to highlight it.

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