Module 1: The value of personalised advice
Learning objectives
- Understand how the value of advice varies from person to person depending on an individual’s circumstances, life stage and market conditions.
- Explore the four pillars of the value of advice framework – financial, portfolio, emotional and time savings – and how you can identify your sources of advice value with individual clients.
- Learn a three-step process for calculating the value provided to an individual client of a set of advice interventions relative to their baseline financial plan.
- Discover the Vanguard Financial Advice Model (VFAM) and its application across a range of hypothetical client case studies.
Learning outcomes
- You will be introduced to a new framework and three-step process for measuring the value of your advice for individual clients.
- You will learn techniques for measuring the incremental value-add of specific advice interventions for an individual client relative to their existing financial plan.
- You will understand how you can use personalised advice calculations in your client conversations to help articulate your value and forge stronger long-term relationships.
Unit 1: The value of personalised advice in the UK
Reading time: 8 minutes
The question “What is the true value of financial advice?” is of huge importance to financial advisers. In this article, we explore how putting a number on the value of your advice can help you articulate your value to individual clients – which, in turn, can help you build stronger long-term relationships.
Read the articleUnit 2: Case studies
Reading time: 15 minutes
In this section, we present six hypothetical client case studies that illustrate how advisers generated significant value using a range of typical financial planning and portfolio construction interventions in the UK.By reading the case studies, you will gain a better understanding of how you can calculate the incremental value of individual advice interventions, as well as the total value of advice for an individual client.
Read the case studiesVideo: how to use the case studies to calculate the value of advice for an individual client
Watching time: 10 minutes
Watch as Warwick Bloore from Vanguard’s Advisory Research Centre guides you through one of the case studies and explains how you can apply the same techniques to calculate the value of your advice with individual clients.
Watch the videoModule 1 quiz
Take the Module 1 quiz for 30 minutes of CPD
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