Nov 27, 2023
As a financial advisor, you have an unfair advantage when it comes to raising your fees compared to other professions.
By simply doubling your fees, you can almost double your income—while working less than you ever had before.
Why then don’t more financial advisors raise their fees?
Well, here’s the cold, hard truth:
They’re worried that raising their fees will cause all of their clients to cancel. But this isn’t true, let alone likely. In fact, various psychological studies have proven that your clients will enjoy paying you more than paying you less.
It sounds counterintuitive, but it’s true.
In today’s episode, you’ll discover the psychological reasons why your clients want to pay you more, how to use analogies to eliminate “fee objections,” and how to make more while working less.
Listen now.
Show highlights include:
- This simple equation proves how valuable—and profitable—raising your fees can be (even if you’re hesitant) (0:58)
- Why financial advisors are particularly capable of doubling their income while working a fraction of the time. Here’s how to do it… (1:50)
- The counterintuitive reason raising your fees is the simplest way to minimize (or even eliminate entirely) “fee resistance” from prospects (2:13)
- Why lowering your prices actually makes your ideal prospects think up more objections (and the physiological reason for why raising your prices attracts fewer objections) (4:55)
- How to jimmy the “Price Placebo Effect” to make more money by working less and dealing with fewer client headaches (6:29)
- Why making your clients pay more will actually make them happier to work with you (weird, but true) (6:40)
- The “SAM” marketing secret for eliminating price and fee objections before they even come up (and how to handle various objections even if they come up) (10:20)
- 5 “done-for-you” analogies about financial advising that can transform even the most skeptical prospects into paying clients (10:37)
Go to https://TheAdvisorCoach.com/Coaching and pick up your free 90 minute download called “5 Keys to Success for Financial Advisors” when you join The James Pollard Inner Circle.
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