I have been advised that there is a psychology that comes into play when a client pays for services (They are much more invested in the process if they pay for the service, no matter how little/much). If the payment does not take place until implementation [%AUM], does this minimize their commitment to the process? (Your experience here, please). What if there is no formal agreement to sign until implementation and the transfer of assets? What affect does this have? Do you have something that can be used? I am trying to find a "workaround" to the Financial Planning Agreement of my RIA, while still being compliant.

Article ID: 335

Last updated: 20 Nov, 2019

I am not so concerned about the psychology of the situation. I just think it’s good business to get paid when you get hired. If you are able, with your current licensing and / or registration, to collect a fee during the Commitment to Hire conversation of the Financial Road Map® interview then do that. If not, do whatever works within the parameters of the law / regulators for you. We don’t have “work-around.”

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Commitment to Hire Conversation™

Financial Road Map® Misc.

Commitment to Hire Conversation™ -> Commitment to Hire Conversation™ Misc.

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