Please join us at our first education meeting of the new year!
We will listen to Sean Clark's 2019 Economic Outlook and then hear Matthew Jackson present a practice management session on how you price your services.
11:45 PM - Registration
12:00-1:00 PM - Lunch
1:00-2:00 PM - "2019 Ecomonic Outlook" (1 hour of CFP® CE Approved, 1 Hour of PA Insurance CE Approved)
Sean Clark, Clark Capital Management
- Is Volatility Here to Stay?
- Will Interest Rates Continue to Rise?
- How Will Ongoing Trade Negotiations Impact My Portfolio?
When your clients have questions about what's in store, will you be ready with the answers?
"Pricing Your Services to Line Up with the Value You Deliver"
Matthew Jackson, CFA, Simon-Kucher & Partners
The AUM pricing model is prevalent in our industry but in many cases, the pricing is significantly disconnected from the real value being delivered.
Depending on your expertise and your client base, you might add value through tax management or estate planning advice. You might add value by fostering a positive attitude in your clients about investing, talking clients down from the ledge and helping them avoid a bad decision when volatility shakes the market. If you're working in the life-centered planning space, you might create value by forging life-long relationships that make you indispensable to your clients.
And that's the rub for our industry: we're pricing based on investing, and less so on the real value we're adding. Clients and prospects think they're paying for portfolio performance, so it's almost like we're giving away the planning and advice piece of the pie for free!
So how do we change this backwards structure? How do we price our value?
Matthew will discuss eight different pricing models and how to determine which one is right for you and your clients.
Matthew Jackson is a director in the financial services division of the pricing consultancy firm Simon Kucher & Partners. He specializes in the area of the psychology of value communications and digital presentment. He also has a Master of Arts degree in classics from Oxford University.