Transitioning from commission to fee based as well as moving firms. Don't want to bash old firm, but I could use some help with the language to express the improvements the new platform will provide

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Investments cost less. 0.11% versus 1% internal. No commission on rebalance. Broader diversification. No commission ever. I work for client only. You pay me 1% per year to prevent a big mistake. Most investors under perform the market by 7% every year - Dalbar. I will advise and counsel on the overall financial plan as needed. No sales. Advice.

likeuplifting

Hello mr and mrs client you're currently paying me .25% a year but I need a new vacation home so I'm going to go to a new firm where it's easier to charge you 1.5% a year.

likefunny

Tell it like it is. I have a lot of A share business that I have moved over and no one was against it. My business has grown and I want to continue to provide you the service I have, even outside of this account. But in order to do I have to move to a different fee structure. Then explain the benefits. (There better be more benefits) one huge benefit it just you working with them and Fielding questions. Half of the ashare clients wouldn't even have a retirement savings if it wasn't for you in the first place, regardless of fees. So if them having you in general is a benefit, then they should move over to the new structure. You have to make a living too, and it does them no good if you have to find another job. For those with their dumbass comments about you just price gouging and buying a vacation home, we know they aren't providing their clients with any planning benefits.

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Hello mr and mrs client I charged you 5.75% years ago and now I pretend that I’ve done you a favor because your paying .25% and are being ignored. Of course it’s still cheaper then paying 1.5% but sometimes paying less is more expensive in the long run.

Seriously explain to your clients you want to offer guidance beyond investment management. You are offering your clients the opportunity to leave things the way they are or if they want to include financial planning you can transition to an advice based fee structure.

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Yup, just for the money... And etf access and lower overall cost to the client, and access to managed accounts and an open annuity platform and that little issue of dol compliance

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Which firm you going to?

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Sounds like you moved just for the money?

Client and new firm/ADV setup put them on the same side of the table

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