Should I use a flat fee?

How you get paid is up to you. What’s clear is that the old-school model of getting paid big commissions up front is not good for the client and it’s not good for you. Whether you charge for the plan or do the plan as part of the annual compensation paid by the client is also up to you. It’s done both ways very effectively. The real decision you have to make is do you want to stay in the old world or move into the new world. If you want to move into the new world, you’ll do comprehensive financial plans to become a real financial planner, versus an investment or insurance salesperson who uses planning as a vehicle to sell products.