Financial advisors are professionals. If you were to make a list of professions, you might also include such careers as lawyers, accountants, doctors and architects. A common characteristic is that they charge fees, and if you are the one writing the check, that fee can be expensive.
The list of professions includes roles with considerable responsibility, in which practitioners are tasked with keeping clients on the right side of the law, out of trouble with the Internal Revenue Service or in good health, or with designing a building that won’t collapse.
As a financial advisor, you are helping clients plan for financial independence, a comfortable retirement or maintaining a legacy. Yet you are often given pushback on fees. How do you answer, “How much do you charge?”
Bearing in mind that a simple question deserves a straight answer, see the accompanying slideshow for seven approaches based on different circumstances.
Bryce Sanders, president of Perceptive Business Solutions Inc., provides high-net-worth client acquisition training for the financial services industry.
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