Want To Win Over the Unadvised Affluent? Try Cost Transparency
Cerulli Associates found that 46% of unadvised affluent investors saw the lack of clear information on how advisors are compensated as the biggest obstacle to working with an advisor. By comparison, just 11% of those already with an advisor expressed concerns over cost transparency. “Advisors must ensure their fee schedule is easy to understand and the services provided are outlined specifically so clients know exactly what they are paying for and how they will pay, while also understanding how clients wish to engage with their finances and with the advisory team,” said research analyst John McKenna.
Read the full article on InvestmentNews