As the cost of living—food, gas, taxes, and everything in between—goes up, it makes sense that advisors increase their fees, as well. However, many advisors feel hesitant to do so during a seemingly volatile time. Even so, it’s important to remember that financial advisors and RIAs offer an incredibly valuable service to their clients. So, in this episode, Benjamin Brandt, CPA™ and Founder/President of Capital City Wealth Management, will be joining the show to share his recent experience with increasing his fees and advice for anyone thinking about doing the same.
Listen in as Benjamin explains how increasing your fees can actually increase the value you are able to provide for clients and how you can use this additional revenue to benefit your firm’s service offerings. You will learn why you shouldn’t focus on fee compression, how to expand value in your practice, and the importance of remembering that clients are willing to pay for the unique experience they will receive from working with your niche practice.
A fee raise can be a lot about delivering more value to clients. - Benjamin Brandt Click To Tweet
Figure out where you can expand that value, put that on paper, and then see where you can implement that into your business. - Benjamin Brandt Click To Tweet
Focus on the things that aren’t scalable, and I think that’s a great indicator of where you can expand value. - Benjamin Brandt Click To Tweet
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