Craft a value statement for your advisory practice
Creating your value statement (guide)
Sample value statement
Effectively expressing how you provide value is essential to establishing a foundation of trust and transparency in your client relationships.
One of the best opportunities to articulate your value proposition is during the early stages of your client relationships. A value statement allows you to create a highly personalized description of your advisory practice, which you can use to enhance your early client communication efforts.
Set yourself apart with a compelling mission statement.
- Explain the value you provide.
- Describe the unique aspects of your practice.
- Make it memorable and convincing.
- Keep it short and to the point.
- Keep it up to date.
Explain your advisory approach in terms your clients understand.
- Define how you help clients succeed.
- List the steps you use to provide advice.
Target your services to your clients' needs.
- List your investment planning resources.
- Consider your clients' interests and potential needs.
- Tailor your services list accordingly.
Describe your approach to client communications.
- Set expectations for communication with clients.
- Be specific when describing your review schedule and client call-back policy.
- Stick to the agreements you make with clients.
Discuss your advisory fees.
- Describe your fees in simple terms.
- Provide a clear explanation of the services you'll provide.
- Consider giving general pricing during your first meeting and final pricing in a follow-up meeting.
- Give clients the option to review your fee schedule either before or after your describe your services.
Provide biographies for yourself and key team members.
- List professional experience, educational background and any industry certifications.
- Provide brief personal descriptions of yourself and your team members.
- Consider providing personal information about your family, hobbies and any community involvement.