How Financial Advisors Can Charge Higher Fees
Failed to add items
Add to cart failed.
Add to wishlist failed.
Remove from wishlist failed.
Follow podcast failed
Unfollow podcast failed
-
Narrated by:
-
Written by:
Most advisors think that lower prices are more attractive to their ideal clients. But this actually goes against everything we know about the brain, psychology, and neuroscience.
In fact, it's not just true that we value higher priced goods more than lower priced goods, but the same product delivered at two different price points produces two different client experiences.
In other words, your clients will value you and your services, have less buyer's remorse, and be more likely to tell their family and friends about you if you charge more!
So, listen to today's episode now to discover how you can charge higher fees and have happier and more satisfied clients because of it.
Show highlights include:
-
How doubling the price of your services can actually make it easier to sell (with a story to demonstrate the underlying psychology of why this works) (0:54)
-
Why charging MORE (and not less) lowers your clients' risk of developing buyer's remorse (4:44)
-
4 signals your ideal prospects are subconsciously looking for when deciding to hire you or a competitor (5:41)
-
How offering "free consultations" hurts your prospect-to-client pipeline and devours your time and energy for almost no return (7:16)
-
2 studies that prove that price doesn't just change what people believe, it changes what actually happens to them (8:34)
-
Why charging lower rates actively harms your clients' results (this means you're doing them a service by charging as high as possible!) (9:32)
-
The "fee is part of the product" mindset shift that can dramatically transform your business, your clients' results, and your bank account by the end of this year (12:08)
-
How quantifying the costs of your prospects' problems before dropping your fees can help you charge twice as much (and turn more prospects into paying clients) (14:34)
-
Why uttering this one sentence does more for perceived value than some fancy office ever will (the main reason it works? it feeds the brain the exact heuristic it uses to judge quality) (19:47)
-
3 big problems financial advisors face when trying to use premium pricing that backfires on them (20:47)
Since you listen to this podcast, I want to give you a gift:
If you subscribe to the Inner Circle Newsletter, I'll send you a collection of seven "objection busting" and copyright free emails, personally written by me, that you can use right away to begin getting more clients. Sign up here: https://TheAdvisorCoach.com/Coaching. Then, let me know you subscribed, and I will reply back with a link where you can download them for free.