What You'll Learn In Today's Episode:

  • Charging for initial consultations in the financial advisory industry is important to ensure the delivery of value and maintain profitability.
  • Financial advisors should recognize the value they provide and overcome any self-doubt or head trash about charging for their expertise.
  • The prospect meeting should focus on answering the prospect’s questions and addressing their concerns.
  • Financial advisors should be willing to say ‘I don’t know’ and follow up with clients to provide accurate information.
  • Consistency and integrity are crucial in charging fees for consultations, and relationship managers can play a role in collecting fees.

In this episode, Jamie discusses the importance of charging for initial prospect consultations. She shares the background of Shilanski and Associates, and explains how they began charging for prospect meetings. Jamie emphasizes the value that financial advisors provide and challenges the mindset that their services should be given away for free. She outlines the process of charging for consultations and highlights the focus on delivering value to prospects. Jamie also addresses common concerns and misconceptions about charging for initial meetings and emphasizes the importance of consistency and integrity in pricing.

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