If someone says, “Your fees are too high” it is either because, 1) hey don’t know what you are really doing; or 2) You aren’t doing enough to clarify what you do. (I’m making the assumption that you DO provide significant value).
The solution to either problem is simple.
You first have to ask yourself the honest question: Are your fees too high? If the answer is NO, then you have a great opportunity to share your “Value Conversation.”
I believe that most advisors provide value beyond the assets under management fee structure.
Have you ever heard a client say, ‘I don’t know anyone’ when you made mention of referring? Do you think that’s true – that they actually don’t know anyone who may benefit from your services? Chances are they know lots of people – they’re just not motivated to give you names right now.
Successful new business development may require having a better website. In fact, it may require having a great website. But what defines a great website? It is simple – the site should help you reach your goals. So, what are your goals and is your site working? Take this quick assessment to evaluate how your site is working for your firm.
