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How much do clients value their adviser?

Vanguard has compiled a “value index” which suggests clients largely believe they are getting good value from their adviser.

The fund manager has worked with financial services research firm Adviser Impact to measure adviser value, based on the value advisers add beyond investment returns, the value they get relative to the fees paid, and the importance of advice in reaching financial goals.

Based on the answers of 760 advised clients, the value index comes out at 73 out of 100, which is described as “relatively strong, with room for improvement.”

Consumers were then categorised into whether they had a high, moderate or low perception of the value of advice.

The research found 41 per cent felt their adviser offered high value, 26 per cent saw moderate value, while 33 per cent perceived their adviser as delivering low value.

Some 97 per cent of those of those perceived their adviser as high value viewed their adviser as trustworthy, compared to 69 per cent of those that felt adviser value was poor.

Among those clients that saw good value in an adviser, 57 per cent said fees had been discussed at a detailed level with 29 per cent saying they had been discussed at a “moderate” level. The remaining 14 per cent said they had not discussed charges with their adviser.

Of those that perceived their adviser to offer low value, only a quarter had discussed fees in detail, with 39 per cent saying it had not been discussed.

Atkinson Bolton Consulting director Simon Gibson says: “We often inherit clients where poor communication has damaged the relationship. More touch points and more regular communications would help improve faith in advisers.”

Click table to enlarge:

Vanguard table 1
Vanguard table 2
Vanguard table 3


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