The cynic in me must ask how do financial planners make money from lifestyle planning?
The bottom line is lifestyle planning makes you money as it helps to:- attract more clients achieve higher value clients retain your most valuable clients engage your clients wholeheartedly create a unique competitive edge increase your referrals increase fees create greater client trust enjoy greater success make your work more rewarding Lifestyle financial planning should be looked at not to get a quick and easy sale, but rather many years of client’s loyal return business and referrals. Costing lifestyle planning into the service offering will vary from advisor to advisor. Some will provide it as either added value, built into the annual package price or charged as an add on. One approach we recommend is to provide initial introductory lifestyle planning as an added value differentiator and then as clients see the value and your expertise increases, move towards the fee for service model. Most people don’t know what they don’t know and may not realise the benefits of doing this sort
