For the last 10 years, adviser fees have gone up across the board
- For the last 10 years, adviser fees have gone up across the board
- What you do for your clients and how do you justify your fees
- View is that how fees are charged and the structure of the fees will change with downward pressure
- Advisers need to get themselves in a position to be able to withstand downward fee pressure by being in control of more of the value chain and driving fees down in these areas
- People are not used to a bear market and how to show thier value when valuations are falling
- Getting to fully understand your clients better – many different ways such as client advisory boards or speaking to your most difficult clients. If you can make them happy, you can make all your clients happy!
- How resilient is your business to downward pressure on fees and what steps do you need to take now to protect yourself
- Articulating the ‘value add’ every year is essential but how do you do it
- Few clients question fees but that could change
- Get on the front foot with your clients about the value you add now before we enter a bear market
- A wide view is that the % charging structure will change but different views on what the end game will look like. What steps are you taking regarding reviewing your charging structure?
- Understand what your top clients want and manage their expectations as you cannot afford to lose them
Expert: Nick French - Marlborough Fund Managers
Facilitator: Martyn Laverick – Soprano Consulting