{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"The Art of Charging For Advice","description":" \ud83d\udd0d Episode Summary: In this powerful episode, Adam Figura sits down with Erin Botsford\u2014a 31-year career financial advisor, Barron\u2019s Top 100 alum, and founder of the Elite Advisor Success System\u2014to explore how financial advisors can confidently charge for their expertise. Erin shares her journey from working with mass affluent clients to serving high net worth individuals, offering actionable insights on pricing strategy, uncovering client vulnerabilities, and positioning yourself as a true expert. From \u201cdisturbing tracks\u201d to annual fee renewals, this episode is packed with strategies for transforming how advisors deliver and price value. \u23f1\ufe0f Time-Stamped Show Notes: 00:00 \u2013 Introduction \u25cf        Adam introduces Erin and her extensive background in the advisory industry. 01:14 \u2013 Starting Out & Early Influences \u25cf        Erin's transition from wirehouse to semi-independent and her early exposure to charging planning fees. 02:53 \u2013 A Game-Changing Coaching Encounter \u25cf        How meeting a top-producing peer reshaped Erin\u2019s perspective on scaling her practice. 05:13 \u2013 Learning the Needs of High Net Worth Clients \u25cf        Erin invested in herself, learning the legal and financial intricacies of affluent client needs. 07:24 \u2013 What High Net Worth Clients Want \u25cf        Focusing on the risk side of the balance sheet to stand out and offer true value. 09:40 \u2013 \u201cDisturbing Tracks\u201d and Emotional Triggers \u25cf        Using vivid, relatable stories to uncover client fears and motivate action. 14:12 \u2013 Overcoming Objections & One-Meeting Policy \u25cf        Erin\u2019s no-chase policy: if they don\u2019t commit in the first meeting, she moves on. 17:40 \u2013 Moving Upmarket Successfully \u25cf        Advisors must be prepared to engage high net worth clients with confidence and relevance. 20:07 \u2013 Confidence, Language, and Credibility \u25cf        How one advisor used Erin\u2019s training to close a $44,500 planning fee with a $40M prospect. 23:15 \u2013 Positioning Yourself as a Trusted Professional \u25cf        Why charging nothing devalues your expertise\u2014be on par with attorneys and CPAs. 24:29 \u2013 Establishing & Renewing Annual Fees \u25cf        Define your model and clients will follow; ongoing fees are part of the process when value is clear. 26:16 \u2013 Comprehensive Planning Extends Beyond the Client \u25cf        Advisors should consider generational impacts, not just the couple in front of them. 29:19 \u2013 Closing & Resources \u25cf        Erin directs listeners to www.erinbotsford.com; Adam thanks Erin for her insights   \ud83d\udca1 Key Takeaways: \u25cf        High net worth clients value expertise and will pay for peace of mind. \u25cf        Storytelling and risk-side planning are essential to demonstrating value. \u25cf        Positioning, confidence, and clearly defined fee structures are critical for success. \u25cf        Advisors must treat financial planning as a business with real pricing power. \u25cf        . \ud83d\udcac Notable Quotes: \u25cf        "Getting paid for your expertise." \u25cf        "Stories sell, let's just face it." \u25cf        "You have to paint that picture for them." \u25cf        "Birds of a feather flock together." \u25cf        "You get to set the rules of your business." \u25cf        "You need to put other legs on your stool." \u25cf        "They don\u2019t want to feel vulnerable\u2014they\u2019ll pay to avoid it." \u25cf        "Free planning? That kills your credibility." \ud83d\udcde Contact Host: Adam Figura, Director of Advisor Growth \ud83d\udce7afigura@horizonfg.com \ud83d\udcde (225) 612-3820\ud83c\udf10www.horizonadvisornetwork.com Registered Administrative Assistant with Cetera Advisors LLC, member FINRA\/SIPC. Cetera is under separate ownership from any other named entity. Located at 15015 Jamestown Blvd, Suite 100, Baton Rouge, LA 70810     ","author_name":"The Confident Advisor Practice Podcast","author_url":"http:\/\/confidentadvisorpractice.libsyn.com\/website","html":"