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Published byKerry Greene Modified over 8 years ago
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Customer Perceived Value in the Context of Financial Planning Carolin Plewa, The University of Adelaide, Jill Sweeney, University of Western Australia, David Michayluk, University of Technology Sydney
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p2 Identify value perception dimensions from either side (benefits and costs) Understand perceived value of financial advice Identify factors that impact of value perception and outcomes Objectives
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p3 Disinterest at a young to middle age Not enough savings to worry about Not sure of financial planner’s worth Lack of time to find one Why don’t more people seek financial planning?
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p4 In depth interviews in 3 states Planners (n=15) Clients (n=11) Non-clients (n=9) Clients - range of demographics and life styles ages (30s to 70s), occupations ( inc. 4 retirees) Non-clients – similar range Planners – industry experience (4m - 37 yrs), organisational size (1-200 planners) area (2 in regional area) Qualitative approach
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p5 What did we discover? 7 Benefit dimensions Expertise Education Motivation Support Reputation Relationship Convenience 4 Cost dimensions Monetary Time and effort Emotional lifestyle
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p6 Align where the clients see value with what is delivered Financial planner style will be relevant to different clients Why does it matter?
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p7 Delegatee Mentor Partner Sports coach Validator Need to match style with client needs Five financial planner styles
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p8 To determine how perceived value affects outcomes such as financial quality of life, peace of mind and satisfaction with planner To identify if dimension importance changes over time and/or is moderated by situational or personal factors So we need your help with the next phase of surveys Next step
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