It seems that it takes a real time commitment to create the plans, whats the benefit to the advisor?
When you offer financial planning you collect data on all of your prospective clients’ assets and produce a realistic and tangible plan to allow them to reach their goals. Your will be looked at as a professional and will be judged on numerous things other than simply investment performance. Not to mention you should charge for the preparation of the plan. Typically, 98% of people who have engaged us to produce a financial plan have also joined on as wealth management clients and have requested we help implement the plan by providing the insurance and investment management of all of their assets. Each new client typically generates approximately $4,000 – $6,000 in the first year and at least $2,000/year each subsequent year (we expect our client relationships to endure 20 years+), and keep in mind at Wealth Strategies we invest everything front end at 0% commission (we are fee-based so we earn a 1% management fee with a minimum annual fee of $2,000). For advisors who use the DSC system
