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Podcast: Talking Real Money - Investing Talk
Episode: Vanguard's Advisor Alpha
Description: Don is joined by Mike DeJoseph from Vanguard to unpack the meaning and real-world impact of Advisor’s Alpha—Vanguard’s research showing how good financial advisors can add up to 3% annually in net value to client portfolios. They break down the origins of the concept (internally coined back in 2001), clarify what alpha actually means, and dig into where that added value comes from: behavioral coaching, tax-efficient strategies, lower costs, smarter withdrawal planning, and disciplined asset allocation. Mike emphasizes that unlike investment alpha, which is a zero-sum game, advisor alpha is a positive-sum benefit rooted in planning and emotional guidance...