How do you compare to your peers when it comes to the amount of time you spend creating financial plans and the fees you charge for your planning services?
Don’t miss the most recent data presented by the Financial Planning Association based on their October 2011 Financial Plan Development and Fee study.
The included exhibits provide insight on how much time, on average, advisors spent to create a financial plan, and how their practice generated revenue and fees based on assets under management, hourly rates, or flat fees.
Where do you fall? Does your financial planning software align with your practice’s service and fee structure?
If you are looking to spend less time creating financial plans, Silver Financial Planner is a great solution designed to allow for efficient planning. This software aligns well with advisors providing financial plans as part of overall asset management or charging an hourly fee.
If you are creating comprehensive plans and charging a flat fee, TOTAL Planning Suite, using either Easy Money (in depth planning for clients in thier accumulation years) or Golden Years (advanced cash flow planning for clients in their distribution years) reports, will provide the best solution to deliver highly detailed and complete planning.
Fees for Financial Planning Services: What Planners Charge
Practice Management Solutions Magazine
by Rebecca King