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5 Common-Sense Ways to Explain Fees to Clients

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Related: 10 Reasons You’re Worth Your Fees

People do not like to pay for stuff. In a perfect world, everything would be free.

The internet has reinforced this idea. Information you get online comes with a cost. When you visit a website and read an article, banner ads appear. Look for something else and they follow you. Visit another site and annoying popup boxes appear.

Free advice is often biased advice, designed to sell a product. Good financial advisors provide great value to their clients, but advice comes at a cost. How do you explain it?

There are many ways to explain fees. In the gallery above are a few suggestions. It’s important to deliver value in the relationship. Clients put a price on the value you deliver. It’s often higher than what you charge. 

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor,” is available on Amazon.