73- Interviews: What you changed after How To Charge LIVE

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We’re excited to share some valuable insights from my recent conversation with Jay Duffy, a financial advisor from Baltimore, Maryland. Jay attended our “How to Charge Live” event and has since implemented some significant changes in his approach to financial advisory services.

The Journey to Change

Jay and his team had already been charging for their advice, albeit on a smaller scale. Their average fee was around $2,000, which they viewed as a loss leader to get clients in the door. However, after attending our event, Jay implemented two specific changes that have revolutionized their approach.

Slowing Down the Prospect Process

The first change was to slow down their prospect process. Previously, they would quote fees in the first meeting, which often led to clients making a decision without having all the necessary information. Jay realized that they needed to gather more information and quantify the value they could bring to the client before discussing fees. This allowed them to provide more value and justify their fees in the second meeting.

Presenting Two Options

The second change Jay implemented was always presenting two options when presenting plans to clients. This gave clients a choice and allowed them to feel more involved in the decision-making process. Jay believes that offering two options shows respect for the client and avoids lowballing.

The Value of Quantifying Services

Leif emphasizes the importance of quantifying the value he provides to his clients and how it justifies his higher price point.

He also shares a story about a client who had a relationship with another advisor but was willing to pay for Jay’s planning services because he offered unique ideas and strategies that the other advisor had not discussed. Jay emphasizes that only a small percentage of clients raise objections about the planning fee, and he positions it as a valuable service that goes beyond just managing money.

The Importance of Practice and Preparation

In our conversation, Leif and I discussed the importance of practice and preparation in becoming an elite financial advisor. I personally set aside time to practice key concepts, such as the guaranteed lifetime withdrawal bonus, on a whiteboard. I believe that practicing is essential for refining skills and separating oneself from other advisors.


Thank you for being a part of our podcast community and I encourage you to attend our upcoming live event. I guarantee that the event will pay for itself with the first financial plan. You can visit http://www.HowToChargeLive.com to schedule a meeting with me or purchase your seats. Discounts are available for multiple attendees from the same office. I appreciate your continued support and look forward to helping you become an Elite Financial Advisor.
















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