The value of personalised advice

The question ‘what is the true value of financial advice?’ is of huge importance to financial advisers. By quantifying the benefits, advisers can convey them clearly to both new and existing clients, ensuring they understand the true value offered. In this edition of the MPS Watchlist, Vanguard’s Warwick Bloore, outlines a methodology for measuring the value of advice for an individual client. He discusses: • The four pillars of advice: financial, portfolio, emotional and time • A simple three-step process to assess interventions • The Vanguard Financial Advice Model (VFAM) in practice...