By James E. Wilson via Iris.xyz
This week, we want to discuss Behavioral Coaching and how this ties directly into our financial planning process. Our overarching objective, of course, is to help keep you on track towards your long-term goals.
There have been several studies over the past few years attempting to quantify advisor value. Among these, Vanguard produced a research paper in March 2014 titled “ Putting a Value on Your Value”. Vanguard concluded that the various modules of value total about 3% per year for the “average” client.
More recently, work by Russell Investments produced an estimate of 3.75% per year. A summary chart of how Russell breaks out the value appears in the chart below. The largest component of value in both studies is Behavioral Coaching.
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