Pricing Inquiry Response Scripts for Financial Advisors
In the world of wealth management, a prospect's first call is often a test of your professionalism and transparency. Handling pricing questions with confidence helps you filter for high-quality clients while demonstrating your value as a fiduciary advisor.
Standard "What are your fees?" Inquiry
Use this when a prospect calls and immediately asks about the cost of investment management.
I am happy to be transparent about that. For managing investments, our annual fee is 1% of the assets we manage for you, which covers all your portfolio rebalancing and tax-loss harvesting. For a standalone comprehensive financial plan, the cost is typically between $1,000 and $5,000 depending on how many accounts we are analyzing. To give you an exact quote, I need to understand your current tax situation and retirement goals. Do you have ten minutes later today for a quick discovery call?
Tips for this scenario
- -Always mention the 1% AUM standard as a benchmark.
- -Pivot the conversation from 'cost' to 'goals' as quickly as possible.
Common Mistakes to Avoid
Pro Tips
- 1.Always ask 'Why are you looking for a new advisor today?' before talking about price.
- 2.Use SkipCalls to ensure that even if you are in a client meeting, a prospect gets an immediate response and a booking link.
- 3.Record a custom voice greeting that sounds calm and professional to build immediate trust.
- 4.If a prospect has less than your minimum asset requirement, have a referral partner ready so you still provide value.
- 5.Mention 'tax-loss harvesting' and 'rebalancing' when explaining your 1% AUM fee to show active work.
Frequently Asked Questions
Should I put my 1% fee on my website or wait for the call?
It is best to mention a 'starting at' range. Transparency builds trust with high-net-worth individuals, but the phone call is where you prove the value behind that number.
How do I handle 'price shoppers' who just want the lowest fee?
Explain that in financial services, you get what you pay for. A 0.25% fee from a robo-advisor won't help them with estate taxes or complex inheritance issues.
What if I'm in a meeting when a big prospect calls?
Using an AI receptionist like SkipCalls ensures the caller is greeted, given your basic fee structure, and invited to book a time on your calendar immediately.
Is it okay to give an exact quote for a financial plan over the phone?
Only give a range ($1,000 - $5,000). Tell the prospect that the final quote depends on the complexity of their tax returns and number of investment accounts.
Don't let a missed call cost you a $1,000,000 portfolio.
Wealthy clients expect immediate service. SkipCalls uses AI to answer your phone, quote your basic fees, and book discovery calls while you focus on the market. Never lose a high-net-worth lead to a faster competitor again.
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