Business
How financial advice can add 5.3pc to your bottom line – The Australian Financial Review
An adviser charging a fee of $3250 to a client with a $250,000 balance can potentially deliver $13,250 of value – or $10,000 extra in the pocket.
Interestingly, that value is not just in selecting winning investments for clients. Contrary to popular perceptions of the industry, Russell believes the value of good advice goes “beyond investment management”.
Instead, a full 2.2 per cent of the 5.2 per cent expected to be gained from advice comes from helping investors not make stupid decisions for example, joining the global panic selling that accompanied the onset of the coronavirus pandemic.
“For someone with an investment balance of $25…
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