Under my current model, there are different means of compensation, depending upon the deliverable (I.e., planning fee, % of AUM, insurance commission, other). It seems that the planning fee would logically be part of the Commitment to Hire. When would the other pieces be brought into the discussion?

Article ID: 332
Last updated: 20 Nov, 2019
It is. Almost every time you offer to be hired they will ask how much you charge. Just tell them. It tends to unfold very similarly to how it unfolded with Robin and Larry on the DVD in Mastery Series #1.
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folder Commitment to Hire Conversation™ -> Commitment to Hire Conversation™ Misc.


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b After completing the Financial Road Map® Interview with friends to help me get more experience, they decided to get a financial plan done. I relayed the cost of completing the plan, but not the cost of an on-going relationship (as I was unsure that was the best time to have that discussion being fairly new to the process). I am meeting them Saturday morning to have a pre-planning meeting. What is the best practice for inviting them into my Ideal Client community at this point and discussing the annual fee (I am thinking $10K...this would be my first Ideal Client invite)?
b 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®?
b 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?
b 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.
b 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?
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