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Most firms think their bottom tier is just unprofitable. The truth is worse. You're writing those clients a check every single year to stay.

I hear some version of this almost every week. An advisor tells me they'll raise fees once they feel a little more confident. Then a year goes by. Then three. Here's the catch. Confidence shows up after the first fee conversation. After you've had it, lived through it, and realized the world didn't end. The 'someday' trap Most advisors are waiting for the day they feel completely ready. The script is perfect, every objection is covered, and the nerves are gone. How long have

Most advisors approach pricing backwards. They jump straight to talking about fee increases before they've fixed anything underneath. I get the instinct. Raising fees feels like the fastest path to more revenue. But in my experience, you can't remodel a house before you repair the foundation, and pricing works the same way. Here’s the three-step pricing fix that I use almost every time. Step 1: Raise the floor The fastest way to improve profitability is raising your m

Most advisors hold their best advice hostage. They save it for after the prospect signs. I think that's backwards. The advisors I see who win business show off their expertise long before the client says ‘yes’. The old sales model For years, the industry has taught advisors to hold back and not share the good stuff until there's a signed agreement. They protect recommendations like they're trade secrets. I get the logic. Why hand out what you get paid for? You should be compe

But it can't tell you what your firm should charge. Over the past year, more advisors have told me they’re using AI to evaluate their firm’s pricing than ever before. The conversation usually starts the same way: “I asked ChatGPT to recommend a fee schedule for my firm.” I completely understand why. I use AI every day. It helps me organize information, challenge my thinking, and work through ideas faster than I could on my own. I genuinely believe advisory firms should be usi

For years, advisors have been told the same story: "Fees are going down." "Investment management is becoming a commodity." "Clients won't pay what they used to." At this point, many advisors accept fee compression as fact. The problem? It's not true. At least not in the way most advisors think... Commodities vs. expertise Let's look at what actually experiences fee compression: * Airline tickets (well… up until 2025 at least…) * TVs * Storage space * Index funds

Most advisors who think they have a pricing problem actually have a perception problem, and it lives entirely in the two inches between their ears.