Elston CPD Redefining Adviser Value - Page 6

advice on. Importantly, a growing number of advisers are considering to offer execution only service in addition to advised services to ensure they can address different client types and requirements. There is also greater differentiation between clients, fees and services offered. Leaving investment decisions to investors presents its dangers. Left to their own devices, investors on average do more harm than good to their portfolios relative to an index-based approach2 as Figure 1 suggests in broad terms for US investors. This is because they adopt mental shortcuts such as anchoring