Prospects keep saying my financial planning fee is too high!

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Here’s how to handle a financial planning fee objection. Don’t get talked down – follow these steps!

Financial planning fees can be hard to justify

Question from a subscriber: “Prospects all say my financial planning fee is too high, and try to negotiate down.”

The issue here is most likely they have no idea what they are actually getting for the financial planning fee they are about to pay.

So you have to think out loud for them.

I can not be any clearer when I draw this distinction:

Not sell, but think, out loud.

Actions to take TODAY

Say this:

So it’s going to cost you $5k a year. That means you have to get $5k of value out of me for it to be worth it. Right?”

Heads nodding, they agree.

I can tell you that last year, one of my clients was unsure of the estate tax treatment of her IRA account. If she hadn’t had us, it would have cost her way more than $5K over her lifetime.”

Heads are still nodding.

Another client lacked knowledge of what counts as income for the IRMAA. If he hadn’t had us, the mistake would have cost him about $2k that year in IRMAA surcharges.”

Heads still nodding.

Now I don’t know all your specifics, but you mentioned there is an IRA basis transfer. Just helping you with the Form 8606 alone would amount to more than $1k of value.”

“?And, from our talk I got the feeling that you’ll need clarity on what should be included in your living trust, specifically your cremation expense, which is another 2-3 hours. There’s $3k right there.”

So we’re getting close to the $5k a year fee, no?


Do the calculation for them.

To make this work, you have to do a good job at getting information from them during the meeting about what their specific problems are – not just “goals.”

When you think through it with them, you show them:

  • That you thought about it for them, just like they would do.
  • You are willing to confront if the deal actually makes sense for them financially.
  • You’ve thought about it deeper than they ever could.

Are you ready to go close a ton of sales?

Alright that’s all for now.

Did you sign up for my daily newsletter?

Or if you want more…

Learn what to say to prospects on social media messenger apps without sounding like a washing machine salesperson. This e-book contains 47 financial advisor LinkedIn messages, sequences, and scripts, and they are all two sentences or less.

This is a book about financial advisor LinkedIn messages which contains scripts you can use to get new prospects.

You could also consider this LinkedIn training program which teaches financial advisors how to get new clients and leads from LinkedIn.

The Sara Grillo membership is a social media program for financial advisors - but only the cool ones.

Thanks for reading. See you in the next one!

-Sara G

Any questions? Send 'em in!