We all expect to receive good value as consumers but understanding what we mean by “value” can be difficult. It’s a subjective term that isn’t always easy to define.

A recent report by Opinium for Royal London looked at the meaning of value. It found that while consumers appreciate “value for money” and “getting their money’s worth”, cost is less important than transparency and strong communication.

At Boolers, we know that demonstrating the value of financial advice (whether through a visible and transparent fee structure, long-term results, or regular annual reviews) is crucial to building lasting relationships. We also understand that some of the value we add will be non-financial, taking the form of emotional wellbeing, say, or peace of mind.

Keep reading for a closer look at what your clients mean when they speak about value and how working with Boolers could provide it.

Price is less important than value for money but transparency and trust are vital too

Asked by Opinium, “What do you think value is?”, the top three most popular responses were:

• Value for money (25%)
• Getting my money’s worth (20%)
• Price (16%).

Source: Royal London

Interestingly – and underlying just how subjective these terms are – when asked whether “fair value” and “value for money” were the same thing, more than a third (38%) said no. What was clear, though, was the need for firms to be transparent.

Source: Royal London

When asked “What do you value from product providers?”, the top five responses were:

• Transparency, honesty, and loyalty (19%)
• I don’t know (16%)
• Customer service (11%)
• Security and trust (9%)
• Cost and rates (9%)

At Boolers, we have decades of experience in the market and are confident in the value we add for our clients. For this reason, we are transparent about our fees and the cost for our services is clear on our website.

Our clients know that their money is secure and that they are getting the best possible advice from professionals they can trust.

Our Chartered status underlines our commitment to professionalism so that our clients know their money is safe in the hands

At Boolers, we’re very proud to have been awarded Chartered financial planner status. But it’s great news for our clients too.

It provides reassurance that clients are dealing with qualified professionals focused on ethical good practice. And that we have met rigorous criteria demonstrating the quality of advice, service, and support we offer, alongside great value.

Our clients know that we have:

• High levels of expertise, technical knowledge, and competence
• The drive to continuously develop and update that knowledge in a shifting landscape
• Structures are in place to ensure ethical best practice, helping to keep their money safe.

Chartered status is the gold standard of our profession, so if you have clients who would benefit from financial advice, be sure to get in touch.

Providing good value also means understanding the non-financial benefits of advice

As consumers, we often think of value only in monetary terms, but it’s important to remember that financial advice is about much more than that.

A robust financial plan – aligned with your clients’ long-term goals and risk profile – will look to include protection against future shocks and the unexpected events that life can bring. These contingencies provide peace of mind and improve clients’ emotional wellbeing. Knowing that they and their families will be protected in the future gives our clients space to enjoy life in the present.

This is especially true during a cost of living crisis that has seen households across the financial divide struggling to make ends meet.

Source: Royal London

When the same Opinium survey asked advisers what they thought clients most valued, the top three responses were:

• Peace of mind (62%)
• Help reaching financial goals (43%)
• Strong communication and simple explanations of financial concepts (37%).

Through frequent reviews and regular, tailored updates, Boolers can ensure that your clients remain on track to achieve their goals. We’ll always communicate in plain language to ensure complex issues are understood and that our clients have all the available information to make the all-important decisions that life throws up.

Value is a key part of the service we provide, and we could be providing it for your clients too.

Get in touch

If you have clients who would benefit from great value financial advice from Chartered professionals, please get in touch. Email enquiries@boolers.co.uk or call 0116 240 7070.

Please note

This article is for information only. Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.

The value of investments (and any income from them) can go down as well as up and investors may not get back the full amount they invested. Past performance is not a reliable indicator of future performance. Investments should be considered over the longer term and should fit in with clients’ overall attitudes to risk and financial circumstances.