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Let’s explore the growing shift in our industry from a reactive, product-driven approach to a proactive, advice-centric model that emphasizes holistic financial planning.
In this episode, Bill Cates interviews Steven Kaplan CHFC® & Ben Skupp, CHFC® about their journey from burnout to creating a more fulfilling practice. They reveal how their Mindshift Program has empowered over 500 advisors to enhance their services and charge appropriately for financial advice.
Steven and Ben discuss how fee based financial advisors can create more win-win situations.
They also discuss how regular client meetings, effective communication, and mindset shifts can reduce client anxiety and improve satisfaction. Plus, they dive into industry trends, like the increasing demand for comprehensive planning tools.
Throughout the episode, Steven and Ben explain how adopting a fee-based advisory model can foster healthier client relationships and present a sustainable career path for financial advisors.
Ben and Steve discuss:
- (03:30) The transition to a fee-based model for financial advice.
- (09:27) The benefits both advisors and clients experience from the fee-for-advice model.
- (13:00) How to propose and execute this model with clients.
- (16:58) How to ensure clients perceive your value beyond product sales.
- (32:03) Tips for advisors interested in shifting their business model and how to find Mindshift financial coaching.
- (36:11) Real-life success stories from advisors who made the switch.
- …And more!
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