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Interviews with Top Advisors for Top Advisors!
Top Advisor Podcast™
Ep. #83 – Rethinking Financial Planning Fees for Fee-Based Financial Advisors with Steven Kaplan CHFC® & Ben Skupp, CHFC®
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Let’s explore the growing shift in our industry from a reactive, product-driven approach to a proactive, advice-centric model that emphasizes holistic financial planning.
In this episode, Bill Cates interviews Steven Kaplan CHFC® & Ben Skupp, CHFC® about their journey from burnout to creating a more fulfilling practice. They reveal how their Mindshift Program has empowered over 500 advisors to enhance their services and charge appropriately for financial advice.
Steven and Ben discuss how fee based financial advisors can create more win-win situations.
They also discuss how regular client meetings, effective communication, and mindset shifts can reduce client anxiety and improve satisfaction. Plus, they dive into industry trends, like the increasing demand for comprehensive planning tools.
Throughout the episode, Steven and Ben explain how adopting a fee-based advisory model can foster healthier client relationships and present a sustainable career path for financial advisors.
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Ben and Steve discuss:
- (03:30) The transition to a fee-based model for financial advice.
- (09:27) The benefits both advisors and clients experience from the fee-for-advice model.
- (13:00) How to propose and execute this model with clients.
- (16:58) How to ensure clients perceive your value beyond product sales.
- (32:03) Tips for advisors interested in shifting their business model and how to find Mindshift financial coaching.
- (36:11) Real-life success stories from advisors who made the switch.
- …And more!
Sponsors:
- SHOW SPONSOR: ProudMouth
- EPISODE SPONSOR: IronClad Family | Holistic Advisor Guide
- EPISODE SPONSOR: Harbor Capital Advisors | LinkedIn: Harbor Capital Advisors
Resources:
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- BillCates@referralcoach.com
- Referral Coach Homepage
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Connect With Steven Kaplan and Ben Skupp
About Our Guests
Steven M. Kaplan, ChFC®, is a Senior Financial Planner. He is a graduate of Pennsylvania State University, is series 7, 63, and 66 licensed, and has his Accident and Health Insurance license along with his Property and Casualty Insurance license. At Holistic Financial Planners, Steven is completely dedicated to his client’s financial success. As a coach and planner, Steven helps clients bring clarity to their current financial picture and holds them accountable to make sure to help them achieve their financial goals. He is making sure they are living for the present without neglecting the future while being as efficient as possible.
Benjamin Skupp, ChFC® is a Financial Planner. He is a graduate of West Chester University, is Series 7, 63 securities licensed, and has his Life, Accident and Health insurance license. At Holistic Financial Planners, Benjamin is determined to providing his clients comfort and confidence in achieving their lifetime goals through financial coaching and planning. In doing so, his caring and focused approach helps him understand problems from all perspectives and find customized solutions to best serve his clientele.
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About Your Host
Bill Cates, CSP, CPAE, works with established financial advisors to speed up their growth without increasing their marketing budget. Advisors tap into Bill’s proven process to multiply their best clients through introductions from advocates and Centers of Influence (such as CPAs and attorneys), communicate their value proposition more effectively, and create a reputation in a profitable target market. Bill helps advisors move from push prospecting to magnetic marketing – to attract more Right Fit Clients™.
Bill is the author of four best-selling books, Get More Referrals Now, Don’t Keep Me a Secret, Beyond Referrals, and Radical Relevance. Bill is a highly sought-after international speaker and coach, as well as the founder of The Cates Academy for Relationship Marketing™.
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Contact Bill Cates directly: BillCates@ReferralCoach.com
