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The evolution of Vanguard Adviser's Alpha: From portfolios to people

18 June 2018 | Topical insights

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Relationship management is the path to client satisfaction. In this paper, Vanguard Investment Strategy Group explores how advisers can differentiate themselves from their competitors. Some key findings include:

Trends in the investment advice industry – regulation, fees and technology-enabled competition – likely will continue to shape the contours of the advice industry and mould client satisfaction.

As adviser's alpha research has suggested, for the typical adviser, the path to greater client satisfaction and asset growth should follow an underappreciated route – relationship management.

A focus on relationship management takes time and commitment. By streamlining some aspects of financial planning or wealth management, advisers can allocate more of their time to the clients who increasingly demand and value it.

Ultimately, clients determine the value of advice and, as our research reveals, they clearly value and reward an adviser they highly trust with referrals and loyalty.

To differentiate themselves from their competitors – both robo and human – advisers should embrace the fact that relationship management is not “customer service” but, rather, the crucial element of peerless financial advice.

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