How do you determine what Planning Fee is appropriate for each client? I would imagine that different client circumstances require a different Planning Fee. You mention on tape from $2500-$3000. This seems high to me.

Article ID: 389
Last updated: 20 Nov, 2019

I appreciate that you are new to Values-Based Financial Planning™ and I'm reading in between the lines that you may have a perception about working with people who can truly pay you the amount of money you actually need to earn in order to run your business, pay your taxes, pay for the present lifestyle you want, get your own financial house in perfect order and keep it that way forever, and fund your future goals. Start thinking in terms of clients who pay you AT LEAST $10,000 / year to have you as their Trusted Advisor. You might also want to start doing the math about how much each of the items I described.

We are going to help you become one of the few Financial Advisors who actualize what's possible in this business instead of one of the many who don't. You can earn your Ideal Life Income, have time freedom, and help people. Try not to let your limiting beliefs slow you down.

For now, just do as many Financial Road Maps® as possible with existing clients and prospects and notice how much more inclined they are to do business with you, however you currently do business and at whatever fee you charge.

As far as your fee, whatever you set now will almost certainly be lower, maybe much lower, than you will end up charging in the near future as your confidence increases.

For the record, $3,000 is not too much to charge for a financial planning fee and your fee should be the same for all clients.

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b I recently had an experience where I had push back from a client when I asked for where all of their assets were located and then found a very small asset at another firm that they had opened up recently. It kind of irritated me and I asked why they had bought the policy. The client responded a little negatively and now I am wondering whether or not I should re-engage them with the Financial Road Map® and ask the Commitment to Implement Conversation™ questions or politely tell them that I do not want to work with them?
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