by Tony Vidler
Adviser fees are a cost for sure, and often a stumbling block for many professionals with their clients is this “cost discussion”. It is a stumbling block because more often than not the entire conversation revolves around just one of the cost components rather than the actual fee rate and the value to be obtained from paying it.
When you consider cost from the perspective of “what are the range of possible costs” then you rapidly realize that there are 4 potential costs for a client:
Each is a potential cost to the client, and should be explained as part of the cost discussion. In this Quick Tips video I explain and role-play how to explain these 4 elements as part of the potential cost to a client – and why PRICE is usually the lowest cost component for them to worry about.
Watch the video to learn more…