• Investors in the Netherlands value financial advisers for their personalised service and expertise, not just investment performance.

• Advised investors believe their adviser adds significant alpha to their returns—equivalent to an average annual alpha of 6.3%.

• Advisers who spend more time in person with clients and their families can build stronger, longer-lasting relationships, helping secure future assets and their practice's longevity.

Beyond performance: What investors in the Netherlands value about financial advice

Conversations about the value of advice have historically anchored on investment performance—but a new report by Vanguard’s Advisory Research Centre finds advised investors derive significant value from their adviser relationships beyond investment returns. 

The study, Client Connect: The Vanguard Advice Survey 2026, includes responses from more than 1,000 advised investors and 200 advisers across the Netherlands. The results suggest relationship-driven factors are just as important to clients as investment performance for building lasting advisory relationships.

With more people in the Netherlands choosing to invest, the need for reliable financial guidance has also increased. Overall, the value of advice is well regarded by recipients, yet there are some critical disconnects between investors’ expectations of their advisory relationships and what advisers are typically delivering.

Advisers who spot these misalignments can better align their services with clients’ preferences, adding value to their relationships.

Below we share some of the key findings in the report include:

Investors derive significant value from their adviser

Nearly all (96%) of the investors surveyed in the Netherlands believe their adviser drives portfolio growth, adding an average perceived alpha of 6.3% to their annual returns. The figure is significantly higher than the 3% estimate in our Adviser’s Alpha research¹—suggesting that clients’ perceptions of adviser value can significantly differ from their adviser’s actual impact on returns. The survey also found that investors value their adviser’s personalised service, financial expertise and transparency around fees just as much as portfolio returns when assessing client satisfaction with their advisory relationships.

A well-nurtured relationship is what matters most

Importantly, the research highlights that clients in the Netherlands want more quality time with their advisers—but the majority of advisers are falling short in meeting these expectations, with only 24% of investors feeling they always receive advice that is personalised to their needs. Meanwhile, 51% of advisers believe they are always providing personalised advice to their clients—suggesting a disconnect between investors’ perceptions of their adviser’s service and what advisers believe they are delivering.

Behavioural coaching: A key value driver

The report highlights that emotional guidance is one of the most overlooked benefits that advisers can offer their clients. Advisers who engage in behavioural coaching discussions can add as much as 1.5% to a client’s annual net returns—and could be the single most significant source of alpha provided by an adviser². According to the survey, investors (70%) and advisers (91%) in the Netherlands recognise the importance of behavioural coaching, especially during the moments that matter when markets are volatile and emotions can run high.

Begin legacy planning discussions earlier 

Legacy planning is fast becoming a core component of client conversations. According to the study, investors feel legacy planning discussions are important, but most would prefer if their adviser introduced the topic earlier in their relationship—ideally, in their 40s or 50s. Advisers, meanwhile, say they tend to begin legacy planning conversations when their clients are in their late 50s and 60s—suggesting a potential opportunity for advisers to better align their conversations with client expectations. 

Building relationships is time well spent

Client Connect: The Vanguard Advice Survey 2026 highlights how investors want more from their advisory relationships. While investment performance matters, clients also crave a more personalised connection with their adviser. They want someone who listens, empathises and understands their personal circumstances—not just about their money, but about their wellbeing, goals and family. For advisers, this includes devoting more time to engaging directly with clients—which can leave less time for carrying out routine portfolio and administrative tasks. 

Take back your time by outsourcing portfolio management 

Advisers who outsource their routine investment management to a trusted investment manager can free up more time to focus on the higher-value aspects of advisory relationships that cannot be commoditised, like building human connections and providing strategic long-term guidance.

Advisers that can deliver these higher-value services are more likely to build stronger relationships with clients and their families—while also helping secure the future of their advisory practices.

Outsourcing can help advisers focus on higher-value services

Source: Vanguard.

To read more about the survey findings, download the full report here. 

¹ Vanguard, 2025, Quantifying Adviser’s Alpha in Europe.

² Vanguard, 2025, Quantifying Adviser’s Alpha in Europe.