Ways Advisors Can Add Value (Beyond Portfolio Performance)

As financial services have shifted from asset management and portfolio performance to holistic financial planning and fee-based compensation structures, the ability of advisors to prove their value in measurable ways has become increasingly important.

Not only are advisors seeking meaningful ways to justify and illustrate the value they provide their clients, but they also strive to position themselves as differentiators in the field. “I can manage my money AND run a Monte Carlo analysis on an app,” a client might say. 

But as advisors, we understand a holistic financial approach requires so much more than running a few simulations. The problem, however, often lies in how advisors demonstrate these value-adds. And doing just that is easier than we might realize, especially if we stick to the principles of financial planning.

Adam Van Deusen outlines these principles and their corresponding value-adds in his article 101 Things That Advisors Actually DO To Add Value.

Some unique examples include:

1. Reviewing Personal Credit Cards and Rewards
2. FAFSA-form Support
3. Tax Credit Analysis
4. Helping Clients Avoid Financial Fraud
5. State Estate Tax Planning

Naturally, no one would suggest an advisor do 100+ activities to add value to the client experience. The point is, we have a wide range of options to choose from, the important part is choosing the value-adds that allow us to provide in-depth analysis of the topics that matter most to clients. This solution also highlights to the client the effort put into understanding the client's goals. 

Even better, advisors can coordinate these value-adds in a way that allows them to target their ideal clients better, demonstrating their expert knowledge of their pain points. Do you work with tech clients? Provide value-adds to address issues concerning restricted stock units or incentive stock options. 

Once you’ve decided on how you want to craft your value-add menu, it’s time to put the pieces together. We’ve put together a topic bundle based on these financial planning principles to help guide and expand each conversation. Advisors can build their own white-labeled service menu using fpPathfinder’s new Client Engagement Builder, available to Deluxe and Premier members. 

Now is a great time to explore your options if you’re not a member. You can start at the Become A Member page. If you’d like to explore further or engage with our team to have your questions answered in real time, register for a live group demo for a personalized experience.