Faculty Publications


Are Planners Worth the Fees they Charge?

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Could financial advisors who offer comprehensive services be doing a better job? Two recent studies shed a positive light on the potential of the financial planning profession to do right by their clients. Both studies aim to quantify whether advisors add value by helping clients achieve better financial outcomes, which is defined as the potential to spend more in retirement. Both studies attempt to quantify the value of planners in terms of their ability to increase lifetime consumption, rather than trying to measure investment performance through single-period alpha measures.