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How do I charge a fee?

How do I charge a fee?. by Suresh Sadagopan Founder Ladder7 Financial Advisories. If you don’t know where you are going, any road will take you there. Why Advisory & fees ?. Opportunity - People are looking for advice… Arvind has no one to advice him

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How do I charge a fee?

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  1. How do I charge a fee? by Suresh Sadagopan Founder Ladder7 Financial Advisories

  2. If you don’t know where you are going, any road will take you there

  3. Why Advisory & fees? • Opportunity -People are looking for advice… Arvindhas no one to advice him • Keeps us on our toes & at the cutting edge. Earn respect.

  4. Why Advisory & fees? • Full control over earnings, unlike commission business where regulator controls it. • The future is moving there

  5. How to make people pay fees? Value they derive through the advisor Bhawanilearns a “Valuable” lesson • Clarity & peace of mind – not returns • Better structured portfolio, better tax efficiency, right choice of products, better goal alignment

  6. How to make people pay fees? Sanity of thought • Stopping them from making mistakes • Unbiased, third party sounding board to clients • Giving them perspectives that they would find difficult to get

  7. How to make people pay fees? Help them understand the importance of money • They work for 35 years to earn money… • But don’t spend time before investing People spend a lot more time planning picnics/ parties !

  8. How to make people pay fees? Pay fees from the savings Roshannow knows who pays for the plan!

  9. How to make people pay fees? Give them a benchmark to measure Bala’s dilemma • Software companies pricing • Teachers pricing their services per hour

  10. How to make people pay fees? Alter the frame of reference Prakash got his answer • Driver / maid - how much they will be paid over the life time. … • Transactional vs Transformational

  11. Message to client • Choose the right Advisor & then implicitly follow their advice • We don’t argue with those who charge less, for … they already know what their services are worth!

  12. Thought for us • We just have to show them why they can’t do without us… Fee is never a problem

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