E130 – Wes in the Hot Seat!
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In this episode of "From Busy to Rich," Justin interviews Wes with questions that have come in from our listeners and Transform Learning Series participants. They discuss transitioning to a fee-based planning model. Wes highlights the mental barriers advisors face when moving away from commission-based structures and emphasizes the value of charging for advice independently of assets managed. He underscores the importance of a structured planning process and the role of tax strategies in financial planning. Wes also shares insights on team dynamics, hiring practices, and the significance of clear communication. The episode aims to provide strategies for financial advisors to enhance client relationships and grow their businesses.
In today’s episode we will cover:
- Wes’ journey transitioning from commission-based to fee-based planning model.
- Overcoming mental barriers and limiting beliefs about the value of financial advice.
- Differentiating between charging for assets under management (AUM) and separate planning fees.
- The role of tax strategies in financial planning and opportunities for advisors to assist clients.
- Identifying client patterns to improve service delivery and client relationships.
- Strategies for managing difficult conversations, including employee terminations.
We hope you enjoy this episode, and we would love to hear your feedback by having you leave a review. Have a question for us to answer on the podcast? Let us know here!
If you’re an advisor and want to further explore these or other topics, you can learn more at www.wesyounglive.com. Maybe you’re interested in taking your own planning journey in a new direction, in that case we would love to have you join us in one of our coming Transform Learning Series.
