In this excerpt from a Master Class I presented for First Assent Asset Management, I discuss 5 strategies to close the 70 basis point gap in your value. This gap comes about from the fact that advisors charge an average of 100 bps for their services, yet robo-advisor type services (and Vanguard and Schwab) are closer to 30 bps for investment management. Advisors have to make up this 70 bps gap by adding non-investment related services that clients value.
In this excerpt, I share 5 of the 9 I discussed in the Master Class. Make sure you listen all the way to the end – the 5th point might sound like a bit of a head-scratcher, but I think it’s extremely important to improving your practice and your relationship with your clients.
- The ROL Index A tool Mitch Anthony and I developed to help advisors measure their clients’ well-being in 10 aspects of life.
- Values Clarification Toolkit Click here to download this FREE tool and start living your values.
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Steve Sanduski, CFP®
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