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Today’s topic is something I’ve never covered before which is what I call P² or Pricing and Profits.
One of the most common questions I get from advisors is how much should they charge their clients. And what I’ve found is that advisors will charge their marketplace what they perceive is their value and worth, which, in my opinion, is inadequate in most cases.
In this episode, I talked about:
(05:14) What is the “mouth test”?
(07:11) How do you come up with your financial planning fee
(10:00) Why you should never use the word “fee”
(21:48) Why trading your time for money should not be considered a profit
(22:02) Why you need to treat yourself as an employee of your business