How to answer those tough pricing questions…

(Steve Holmes)


What is the true value of advice?

Many advisers are still under under selling them selves and as a result not charging enough.


How much do you charge? The actual amount you pay for the advice and service we provide varies from client to client depending on the complexity of the situation.In all cases what we like to do first of all is to have a 45-minute discussion with you at our office – with no obligation on yourself to proceed – in order to understand your financial needs and goals and how we can help you achieve them. From here we can provide you with an accurate estimate on the likely costs involved.
How can I pay? There are several options available and we will discuss and agree the most appropriate option for you.
How much is your financial advice actually going to cost me? It’s perfectly natural for you to focus upon what the likely costs are going to be but what I would ask you to consider first is the actual value and value for money you will actually be receiving as a result of moving forward with my recommendations – ultimately I will be providing you with recommendations that will be totally geared to either making you money or saving you money (depending on your situation and your needs) and our goal will always be to make you view any cost or charge as excellent value for money.The first step is to establish how straight-forward or complex my recommendation for you needs to be and we can establish this by having an initial, no-obligation, 45-minute meeting at your earliest convenience.
You’ve never charged me for fees before, why are you charging me now? We have always been focused on giving all of our clients value for money and we see this change as an extension to this as we are now providing a far more comprehensive financial planning service that not only includes meeting your financial needs as they change and providing appropriate product recommendations but also providing additional services such as seminars, regular reviews of your plans and how they are tracking, email newsletters and one point of contact for all of your financial planning needs.I am convinced that you will quickly view any cost or charge for these services as excellent value for money especially as we will be focusing on two main goals – making you money and saving you money.
What do I get for the amount you’re charging? See previous answer and amend and adapt as appropriate / what applies per practice
Do you charge commission or fees? Here at XYZ planners we use a fee-based pricing model that takes into account the client’s needs and the level of complexity required in order to put in place the recommendations to help the client achieve their goals.Our first meeting will help establish the level of detail you require and therefore the likely costs involved.
I don’t wish to proceed under the new structure and would prefer to stay as before. I appreciate your feedback.We have invested a lot of time looking into the most appropriate way to balance meeting our client’s needs and at the same time receiving appropriate remuneration for us as a practice and believe this new way forward ticks both boxes.What I can do is provide you with a couple of other financial planners who may be able to help you further. Would you like me to do this for you?
It’s too expensive. Can I get it cheaper? I appreciate your honesty.
The actual cost to you is something that has been calculated based upon the detail needed to help put in place the plans to help you achieve your goals and its aim is to be fair to both you, the customer and to us here at ABC Planners. As a result this cost is something that is non-negotiable.
One option available to you is to speak to a planner whose costs may be less than what we have discussed and I can give you some names and contact numbers of you wish?







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