Digging Deeper with your Clients, Part 1 of 3 {PFP Section}

Jun 14, 2024

In this insightful discussion, financial planning expert Debra shares her expertise in managing high-net-worth clients. She emphasizes the importance of an annual service calendar to strengthen client relationships and set clear expectations. Debra explores various fee structures, advocating for flexibility based on clients' needs. She answers key questions about service delivery and charging for financial planning. Listeners will also discover valuable resources, including guides and tools to enhance client communications throughout the year.

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Building Client Relationships through Structured Service Calendars and Fee Strategies

00:00 • 23min

Closing Thoughts and Resource Highlights

22:53 • 2min

As a follow-up to Debra’s webcast Planning for Clients with $1-15M in Net Worth, she discusses some important practice management considerations. An annual financial planning service calendar structures the delivery of client services and communication and is the foundation for adding valuable client relationships. Debra advocates for a systematic approach to client service, ensuring transparency and predictability. She also discusses various fee structures, including AUM (Assets Under Management) fees and alternative payment arrangements, to ensure fair and flexible compensation for the services provided. Your fees reflect your professional value. Debra answers questions like:

How can an annual service calendar help your client relationships?
How can you charge for your planning services?
How do you adjust for clients of different asset levels or extensive projects?

Many of the PFP Section resources provide ideas on topics that can be discussed throughout the year including:

Debra Taylor’s video archive Planning for Clients with $1-15M in Net Worth
The Advisor's Guide to Financial and Estate Planning is a 4-volume guide that serves as a reference for many client questions and strategies.
The Personal Finance Scorecard is a great tool to get feedback from your clients on what is really important and can guide your conversations throughout the year

This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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