In the realm of investment advice, value is defined by what you receive from your advisory relationship that meets or exceeds your expectations. For most clients, it has much less to do with pricing or investment performance, than it has to do with the fulfillment of promises and commitments made at the outset of the relationship. But the commitments will only have value if they are based on your stated needs and expectations.
You should expect your financial advisor to have in place a clearly defined process for working with you to develop and implement your investment strategy. You know you’ve found the right financial advisor when that process includes, at a minimum, these five elements: