financial planning fees Archives - Page 2 of 2

How to introduce a “Guarantee” into your fees

by Tony Vidler It has been proven repeatedly that providing a guarantee in your fees for prospective clients certainly helps them decide to engage – and it is not a difficult thing to do, even though “guarantee” is a dangerous word for financial advisers. Financial advice fees can seem to be enormously expensive […]

Who is paying who for financial advice?

by Tony Vidler Who is paying who for financial advice will become the biggest question in consumers minds as the industry stakeholders continually and very publicly debate fees, commissions and conflicts of interest in financial services. For many advisers yet to experience it, full transparency on costs and fees is good for business. […]

Properly Valuing Financial Advice

by Tony Vidler When it comes to valuing your advice to clients what is a “fair” rate or price? $100 per hour seems pretty cheap for any professional – plumbers cost more than that, right? But what about $1,000 per hour? That’s not actually a bad rate if someone can create $5,000 of value […]

Cost is not just Price: Put Adviser fees into perspective

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 […]

Fees For Advice: How to get paid every step of the way

by Tony Vidler If advice is valuable then it should be paid for. Getting paid fees for advice alone seems to be an issue as Financial Advisers often do not get paid what they should for the difference their advice makes…and more often than not it is the advisers’ fault. I have been […]

Making the move into charging fees for advice

by Tony Vidler The easiest way for advisers who are worried about trying to charge fees for their expertise or time is to sell a service which is not product related at all. This seems daunting to the many financial advisers who have “grown up” in an environment where they were paid by commissions […]

How to explain your Process and Fee to clients

by Tony Vidler Many advisers have difficulty explaining their fee basis, and the client advice process, in a clear and logical way. It becomes a barrier to engaging clients, and undermines our professional image, when we fumble and stumble on a fairly straightforward part of being in business. As with most things in the […]

Most Advisers Are Frogs Being Boiled Alive When It Comes To Fees

by Tony Vidler Most financial advisers acknowledge that things are likely to change when it comes to fees, initial commissions, renewals or AUM fees and so forth in coming years. Yet they behave like the frog being boiled. The boiling frog story is a common metaphor used to describe the inability or unwillingness of […]

Commissions, Conflicted Advice…and finding common ground

by Tony Vidler Well..it has happened. Life Insurance sales commission in Australia is regulated to lower levels, albeit with a phase in period. (See: Life Insurance Commission Reform is Happening In Australia) The arguments have at times been ferocious, and those arguments are being watched closely in other jurisdictions such as New Zealand. Here one […]

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