episode: 61

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“Price is what you pay, but value is what you get.”

~ Warren Buffet

What’s the marker or gauge to value financial advice? How do investors value the benefits they receive when working with a financial advisor or advisory firm?

When working with an investment advisor & financial planning service provider, so much of the value provided is intangible, making it difficult to quantify. At the same time, it’s crucial to be able to evaluate the service so that you can ensure you’re satisfied with the value you receive.

In this episode, Marcelo and Keith explore the concept of value of financial advice by looking at how it has been historically valued, and then introducing an evaluation framework called the 4 Cs of value of advice. This framework will help today’s investors evaluate value in a world of expanding wealth management needs.

Also listen to 15 Questions to ask when Choosing a Financial Advisor for more tips to choose the best financial advisor for your needs. 

How to evaluate Financial Advisors

  • Understanding how to value intangibles like professional services (3:05)
  • Three ways financial advice was valued historically (4:27)
  • What research shows about active vs. passive investing (5:57)
  • The evolution of financial advice (7:43)
  • The 4 Cs framework (competence, coaching, convenience & continuity) for evaluating the value of financial advice (8:44)
  • Characteristics that show competence in investing, financial planning, and tax/estate planning (10:16)
  • How investors can benefit from getting good coaching from their advisor (14:11)
  • What convenience looks like in financial services (17:28)
  • The value-add brought by continuity for investors (19:16)
  • Outcomes for investors who get the 4 Cs (22:17)
  • Our key takeaways (24:36)
  • And much more!

Meet your hosts

Keith Matthews

Keith Matthews

Partner & Portfolio Manager

Marcelo Taboada

Marcelo Taboada

Associate Portfolio Manager

Lawrence Greenberg

Lawrence Greenberg

Associate Portfolio Manager

Thanks for Listening!

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