I'm the owner of a brand new RIA and am trying to build my business from the bottom up. What recommendations do you have for someone in my position? I want to build the firm the right way, but I also need to eat and feed my family. How do I balance those two competing elements?

Article ID: 182
Last updated: 20 Nov, 2019
You will need to very proactively engage in the referral process, including the self referral process. Your Accountability Coach can help you with this. It’s really not as big of a problem as it may feel to you. You simply need to make contact with everyone you know, do lots of Financial Road Map Interviews™ and get hired and paid to do your work. You should be highly motivated to do so… everyday. Be careful not to waste your prime time thinking about what you need to do instead of actually doing it.

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b Should I use a flat fee?
b I am very new to this process. Because of some recent (very positive) publicity, we are receiving a number of telephone inquiries. What pre-screening questions should I have my assistant ask interested callers before making appointments with them?
b Say that I want my Ideal Clients to pay me $5000 per year, ideally where does that income come from? Planning fees, AUM, insurance sales?
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b Prior to hiring Bachrach & Associates, Inc., I had already created several of the deliverables on an annual basis for clients. I have been charging between $500 and $1,000 for this type of planning in addition to AUM wrap fees. Can you help me gain clarity and perhaps some verbiage on why a current client should pay 2x-3x times what they are used to?
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