{"id":7071846,"date":"2026-10-01T20:43:19","date_gmt":"2026-10-01T20:43:19","guid":{"rendered":"https:\/\/fivemor.com\/?p=7071846"},"modified":"2026-10-01T20:43:19","modified_gmt":"2026-10-01T20:43:19","slug":"articulating-the-evolving-value-of-financial-planning-to-prospects-kitces-carl-200","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7071846","title":{"rendered":"Articulating The Evolving Value Of Financial Planning To Prospects: Kitces & Carl 200"},"content":{"rendered":"


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Given that financial advice is usually, to say the least, not in<\/em>expensive, financial advisors often need to be prepared to explain their fee in the context of the value that is offered. This conversation includes how advisors charge for their advice and what they are charging for, especially as the fundamental value proposition of financial advice has evolved significantly over the last decade, transforming from product sales to investment management to goal-focused life planning. Yet as the financial planning process has become more holistic, it has also become more intangible in some ways. For example, the value of a product or investment management may feel immediately related to a client’s problem… but the value of goal-based spending and behavioral finance may be more challenging to articulate, in the moment, to prospects and clients.<\/p>\n

In this 200th (💙!) episode of <\/a>Kitces & Carl<\/a>, <\/em>Michael Kitces and client communication expert Carl Richards discuss how the value of advice has changed over time… and how to explain it to clients. Given how abstract life planning can be, when a client first engages an advisor, it is often best to start with the ‘presenting problem’ that first brought a client into the office – such as college planning, an impending retirement, or a sudden inheritance. Advisors can take that first issue as an opportunity to build trust with the client, then can slowly dig deeper from there. Opportunities to go deeper with clients often present in cash flow conversations, where an advisor can help clients explore which spending decisions will ‘actually’ make a difference in the long term.<\/p>\n

Another component of the value of advice is related to client implementation. Many clients will acknowledge that they intended to follow through on different action items, such as estate planning or transferring accounts, but life, inevitably, got in the way. While the advice itself may be helpful, ensuring the agreed-upon actions are implemented may be invaluable for some clients. And if\/when clients don’t act, that can provide another signal for a deeper conversation to see what (if anything) may be ‘missing’ from the financial planning recommendations.<\/p>\n

When great advice is combined with implementation support, it can create an incredibly valuable experience for the client. While marketing “peace of mind” may be cliché, the reality is that it is <\/em>immensely powerful to have one’s financial affairs in order (and continually updated so that they stay in order!). Ultimately, the key point is that while some components of advice shift with technology and markets, the fundamental value today’s advisors can offer is not just expertise, but a listening ear. When advisors can combine both elements, clients may be surprised not just at how much gets done, but at how aligned their financial capital is with what matters most!<\/p>\n

Read More…<\/a><\/h2>\n

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Given that financial advice is usually, to say the least, not inexpensive, financial advisors often need to be prepared to explain their fee in the context of the value that is offered. 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