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Servicing clients profitably for below $3k

Recent industry research points to the fact it’s almost impossible to profitably service clients for less than $3,000 in fees, but as the cost burden on advisers rises, there are some planners who have managed to retain a successful low-cost fee model for suburban mums and dads.

In this episode, Future Financial Services principal planner Alex McKenzie joins host Sarah Kendell to discuss how he balances compliance pressures and affordability issues for his client base in Western Sydney.

Alex unpacks how he keeps his average fees below the “magic number” of $3,000 through a balance of outsourcing, leveraging technology and strong internal admin support. He also looks at some of the challenges and opportunities for advisers in the current difficult regulatory environment and how practitioners can look to reduce the time it takes to provide advice.

  

Servicing clients profitably for below $3k
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