Pricing Inquiry Scripts
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
!Quoting a flat fee before knowing the total investable assets (AUM).
!Failing to mention that you are a fiduciary, which justifies a higher fee than a broker.
!Sounding defensive when a prospect mentions a cheaper competitor or robo-advisor.
!Taking more than 2 hours to return a call from a high-net-worth prospect.
!Not having a clear 'starting at' price, which makes you seem disorganized or expensive.
