The financial planning business model is swiftly evolving. Gone are the days of when it was a time-consuming and complex loss-leader! In 2021 it is now being powered by advanced technology to become a highly lucrative fee-based revenue stream.
Standout Quotes From our Webinar,"Scaling Financial Planning Into a Revenue Center for Your Enterprise"
Topics: Compliance, Retainer Model, Practice Management, Fee-For-Service
Why Ongoing Planning can be More Valuable than a One-time Engagement
Imagine this: a new prospect reaches out to you after their parents pass away. They need massive guidance to make big financial decisions about the forthcoming addition to their nest egg. They’re likely stressed, uneager to share details of their...
Topics: Retainer Model, Practice Management
Here’s a fun paradox for the financial advisor — while you spend your entire day planning other people’s finances, your own billing systems are some of the most challenging parts of your job. Like the therapist who is the most challenging client for...
Topics: Compliance, Retainer Model
Why Broker Dealer compliance is important for a retainer model
As the shift toward a retainer model for financial advisors becomes more popular, broker-dealers have been presented with a new set of challenges. To remain compliant in a retainer model, they have to work with financial advisors to make sure the monthly...
Topics: Compliance, Retainer Model
Tapping into a new generation of financial advisor client is an ideal way to scale your business. The retainer model, whereby you bill a monthly fee for investor advisory services, answers the call from a younger set of clientele for financial planning...
Topics: Retainer Model
Investment Advisor Best Practices for Recurring Fees Billing
When it comes to financial planning business models, the monthly retainer is the equivalent of a style icon or musician ahead of their time. While charging recurring fees for investment advice responds creatively to the current needs of a younger...
Topics: Compliance, Retainer Model
Investment Advisor Compliance When Charging for Recurring Fees
In your role as an investment advisor, remaining compliant is more than likely at the top of your to-do list. It’s important to conduct business in a manner that stays in line with best practices and adheres to the stipulations of industry regulations...
Topics: Compliance, Retainer Model
If you’ve decided to make the switch from a commission-based model to a retainer fees model in your financial advisory business, congratulate yourself. You are clearly up-to-date with the latest trends in your industry and have the gumption to explore...
Topics: Retainer Model, Marketing
As the retainer model for financial planning services is still a relatively new player in the market, it can be challenging to know how to set your fees in a manner that is both reasonable and profitable. You want to ensure that you add serious value to...
Topics: Retainer Model
Writing a financial planning business model that adheres to the trends of a changing market can be a daunting task, primarily because the industry is in the midst of a paradigm shift. In the Assets Under Management (AUM) model that previously dominated...
Topics: Retainer Model, Marketing