Advisers are behavioural coaches
The fourth annual Value of an Adviser Report by Russell Investments looked at how advisers have helped their clients deal with financial challenges and planning in 2024.
The value came from all aspects of advice from investing to tax planning, social security and estate planning, it found.
More than half of the benefit was derived from advisers’ ability to help people avoid knee jerk decisions amid market volatility and economic uncertainty. This included encouraging clients to remain disciplined and reweight portfolios as global share markets reached record highs – despite the temptation to chase more gains.
“In 2024, that has meant balancing the competing emotions triggered by strong investment returns and a cost of living crisis. Advisers have encouraged clients to stick to their long-term goals in this environment by providing both practical and emotional guidance that allows them to navigate the highs and lows of wealth generation,” the report says.
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