Can You Prove Value?
Am I great at what I do? I like to think so.
Can I prove it? Not at all.
But I don’t believe I need to. Read on and let me know what you think…
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Businesses and people seem to be urged to “prove” their value all the time. Many resort to stats and case studies etc. to do so.
But can value be proved? Or only felt?
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Evidence suggests that a good financial planner is 2-3% pa of the value of your investments “better” compared to you looking after them yourself.
And that makes sense doesn’t it? I have the time, resources, knowledge and experience that you don’t.
But I can’t prove it to you, I can only help you feel it. In fact, me trying to prove it more likely stops you feeling it. Only when you feel value (or not) will you act (or not).
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So, how can value be felt?
In working with any professional you want to be listened to and heard – it’s a basic human need.
You want the professional to really try to find out about you, what your preferences are, what makes you tick.
Added together that should leave you feeling that you are with someone whose sole focus is wanting to help you.
If you do not feel that or if you feel under any pressure, confused or not on the same page then my advice is to back away slowly. You are in the wrong room with the wrong person.
There is a lot at stake and so your “job” is to look out for all those feelings (or their lack) and act accordingly.
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If, however, all you want is proof you run the risk of being disappointed, or worse, conned.
Always look for the feeling, that’s where the value (or not is).
Happily Retired at Self Employed
2 年To me, it’s not so much about providing value, but ensuring what you advise, correlates with MY personal values. Don’t ask me to invest in something I don’t understand; don’t suggest I invest in something I don’t feel comfortable about; and, don’t make me feel guilty about financial success. That’s all I ask of my financial advisor, oh, yes, and don’t quit your job before I die, I want a long term service.
Managing Director at Strategic Wealth Partners | NED at CISI | Helping successful professionals reduce taxes, invest smarter and retire on their terms.
2 年Great share, Jeremy! ?? My take: PRICE ?? Is what you charge VALUE ?? Is what you deliver Therefore, your price only becomes an issue to the extent that your value is in question. And the real tragedy occurs when the person not convinced of your value is you.
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2 年Jeremy Askew FPFS ??this post. You have perfectly articulated how I feel about value and knowing when there is a ‘good fit’ with a client. You are SO right.????????????Thank you.