If we cannot charge a fee now, but may be able to in the future, how do you recommend discussing this with clients when we complete the Financial Road Map?

Article ID: 236

Last updated: 20 Nov, 2019

First of all, fix that “We can’t charge a fee” aspect. In the meantime, charge what you charge, the way you charge. As soon as you know what you will be charging, and when, tell them that also so they are clear what they are signing up for.

« How do you complete the insurance section? Some types of...

What is the course of action if the Ideal Client agrees to move... »

Others in this category

Is it better, and more professional, to ask the clients to hand all the Financial Documents over and comb through the statements myself rather than having them explain their own Financial Documents?

I want to create a concise answer to the question of what do we charge. You mention two things and I can't reconcile them. Either "set a Predictable Minimum Annual Recurring Revenue and honor it for all clients" or "use an annual fee of ____ % of their net worth or assets". These seem very different. I'm fine with charging an initial one-time separate $2500 fee for creating the plan. But on going do I charge a Predictable Minimum Annual Recurring Revenue or % of assets/net worth for the 10 deliverables/3 meeting annual on-going process.

Is the insurance listed on the Financial Road Map® in that order for a particular reason? If yes, should the insurance grid mirror this order? As I was putting together the grid, I realized it made it easier to quickly refer to them if they were in the same order - and not risk leaving something important out. What drove the choice of order for insurance on the Financial Road Map®?

How do you complete the insurance section? Some types of insurance aren't easily summarized by a number, for example auto, disability, long-term care, etc.

Clients agree to pay for their plan (and pay at the end of the first meeting) $5,500 to have their Implementation Plan written. My annual ongoing Ideal Client Fee is $11,800. Do I collect this (annual ongoing fee upfront) from them at the same first meeting or do I do it at Implementation Meeting?

» More articles