We have been talking to advisers on a daily basis. Every conversation leads us to more insight about what advisers are seeking. Since we solved the problem of creating a repeatable, systemic advice delivery system for your clients, the main two questions we receive are:
1) How much should I charge for the service?
2) How do I market this service?
I have found the first question is a difficult one to answer. You as the adviser know your clients and your markets much better than we do.
However, I have found that advisers usually set their pricing based off of one or two strategies.
The first one is to create three different pricing options based off of the services being offered. Usually a Silver, Gold, Platinum strategy. More services are included with each model. The pricing is set off of the “compromise pricing strategy”. Uber uses this strategy after you a complete a trip and they ask if you would like to include a tip and offer you choices of $1, $3 or $8.
The more popular strategy is to set a pricing tier based off of the balance of your client’s assets in their plan. Normally, advisers have told us they charge three different prices based off of the 401k values. A normal strategy would be pricing set with “buckets” such as, under $100k, over $500k and in between.
You have the option to set the price for each one of your clients between $25 per month to $250 per month. Then we collect the recurring fee through Stripe, take our $12 per month and remit your firm the rest.
The second most popular question we hear is about how to market the service. We have just created a new section on our website and are in the process of uploading materials for you to review, edit and use (obviously you would need to send them through your compliance department prior to use). So please check out that section under the “Financial Professional” section or CLICK HERE.
Currently we have uploaded a brochure, language for an email and social media and a Power Point presentation for you to use. The Power Point also has sample language for each slide and is an excellent tool to use in a group setting. Many advisers have found success in scheduling “lunch and learns” using the Power Point and getting in front of multiple prospects at one time.
If you have any questions about pricing and/or marketing materials, schedule a call with our CEO, CCO and Co-Founder Kevin. CLICK HERE to schedule a call that’s most convenient for you today!