FYI: How should we measure the value of financial advisory services to investors? In this paper, we introduce a new three-part framework based on portfolio, financial, and emotional outcomes. We illustrate several aspects of our approach using data from Vanguard Personal Advisor Services (PAS), a hybrid service combining human and algorithmic elements to deliver financial advice.
Regards,
Ted
https://pressroom.vanguard.com/nonindexed/CIRAVOA_092019_online.pdf
