The New Value of Advice: A Holistic Approach for Everyone

Oct 11

In the 20th century, as the “pay for product” model took root and flourished, financial advice became all about asset selection, except for the very wealthy with enough assets to command personalized, holistic advice as an additional service. With the rise of the fiduciary, fee-only model, a new wave of service offerings and client relationships in the financial advice industry are focused on a more holistic approach – and they are available to everyone.

In today’s complicated world, the total value that financial advisors can bring to the table is significant. Financial advice expands beyond selecting products for an asset allocation and can include assistance with tax planning, insurance reviews, goal setting and prioritization, and cash flow management. On the investment side, advisors can now build portfolios across a much broader spectrum of assets.

In this article, we break down a few ways this new style of advice brings value to clients... ...