If you’re a regular reader of my blog posts, you know I espouse “evidence-based” investing. This term refers to investing supported by peer-reviewed articles in respected financial journals.
Here’s the uncomfortable reality missing from the discussion about differentiating based on value: There may be no way for advisors whose primary value is investing in index funds and coordinating with other service providers to justify their asset-based fees.
Giving participants the unrestricted ability to trade on their own is a recipe for disaster.
Being aware of your personality type and recognizing the personality of your prospect is very helpful if you want to maximize the possibility of converting that prospect into a client.
Complexity is the enemy of investors and the ally of brokers. If they can convince you investing is too confusing to deal with yourself, it’s easier to drive you into their waiting arms.
My coaching clients tell me they are losing wealthy clients to robo-advisors. They want advice on how to better articulate their value proposition.