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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.

Article ID: 355
Last updated: 20 Nov, 2019
In the interest of simplicity of you and for them, you may prefer to charge a flat annual fee instead a % of assets or net worth.
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b 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?
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 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 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 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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