Total Cost vs. Total Value
After fees, beyond investing, and above the average—how do you create value for your clients and, when TCR takes effect, will that value be as clear to clients as your fees?
CRM3 is foregrounding the total cost of investing, and advisors need to meet the moment by communicating the full value of what they do.
The fact is that full-service advisors today are doing more than they’ve ever done, from sophisticated portfolio design to multigenerational planning, and much of it at no added cost to the client. But in many cases neither existing clients nor new prospects are aware of the full scope of this kind of service or the value it represents.
And communicating this message in an effective way is going to require more than an email or a few client meetings.
CRM3 is predicated on the idea that the actual costs associated with financial advice have been obscured, and in order for clients to change their perspective, this information needs to be disclosed in a way that is clear, front-and-center, and ongoing.
The same is true of your value.
