Financial Advisor Success Ep 132: Finding The Confidence To Avoid Discounting And Charge The Fee You're Really Worth with Linda Leitz
Jul 9, 2019
Linda Leitz, president of Peace of Mind Financial Planning and veteran advisor with a PhD, shares her insights on confidently pricing services without discounting. She discusses transitioning from a solo advisor to leading a four-person team, emphasizing the value of an integrated approach. Linda reveals her formulaical fee structure and how she combats imposter syndrome when quoting prices. She also reflects on ethical decisions in her career and the surprises of building a client-centric firm. Tune in for practical strategies on navigating financial planning practices!
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Cross-Train Staff For Continuity
- Build a small cross-trained team where everyone knows clients and processes to avoid single-person dependency.
- Let operations staff own billing and ticklers to automate continuity.
Set Minimum Hourly Rates By Experience
- Charge sensible hourly rates: start near $150 for juniors and $250–$300 for experienced CFPs.
- Raise rates as expertise increases to avoid undervaluing the profession.
The $9,000 Gasp That Became A Sale
- Linda quoted a $9,000 fee and the couple gasped, yet agreed after she explained the services.
- She kept her price, used the explanation, and the couple became clients.
