39. 7 Ways To Increase Your Planning & Consulting Revenue
Becoming An Elite Financial Advisor With Sten Morgan
Shownotes Transcript
Progress happens when you apply proven systems and habits. That's what today's episode is all about. We discuss seven different ways you can increase your planning and consulting revenue.
11/22/22 - Free Training - How To Add 50K In Planning Revenue
Click here to register)
January 2023 - How To Charge LIVE - Our live event where you'll learn our system for financial planning and consulting.
Click here to meet with Andy to ask a question about the event.)
Find free ideas - Be relentless about learning from your COIs and other advisors. Be systematic about knowing the ideas they use to help their clients so you can suggest them to yours. It's like becoming a tax ninja without having to go to tax ninja school.
Quantify value of ideas - Always total the value of ideas you provide 5k + 8K + 20K etc. Some ideas are 10X ideas while others are soft results - Taking action when the client wouldn't have is a soft result that creates a measurable outcome.
Name your price - Don't undercut yourself - Borrow the confidence
Do what you do best - Optimize your situation with the right people or systems.
Coaches show up and put on a headset and coach
Take smaller clients - Have a Jr. advisor take smaller planning clients so you don't have to turn down a 3K plan if it's profitable. This will accelerate the growth of advisors on your team and pick up additional revenue for the firm.
Joint work - Doing joint work can open you up to working with clients you couldn't have handled otherwise. 50% of a planning fee is better than 0%.
Don’t give prospect all or nothing scenario – Give 2-3 price points for the prospect to engage with you. But make sure your service model aligns with that fee.