Our Community Voice

Business has virtually come to a stop and I ask myself daily, what can I control as a business leader during an environment of total unknowns, uncertainty and ambiguity? What can you control? How can we continue to add value to our valued clients during this period? How can we come out of this crisis as stronger leaders and create even stronger firms for years to come? How can we enhance our virtual productivity? Let’s stop there for now.

Asserting value is no longer enough. Provable, measurable results – showing that your real value is at a multiple to the cost of working with you – should be the new norm in wealth services.

In our previous whitepaper, we defined Pricing Integrity as a function of three factors: fairness, consistency and transparency. We discussed why pricing integrity eludes many financial advisors. In this second in the series, we present the Value Price Perception™ triangle, a simple construct that some of the most successful financial advisors in North America have used to set their pricing, and manage their value and pricing strategies.

Pusateri Consulting and Training has worked with investment advisors (IAs) throughout North America to answer the simple questions: What is your price? Have you priced your value fairly, fully and with integrity? How advisors discuss value and price with clients is one of the most important business skills they can develop. Some IAs do a remarkably good job of articulating both. However, most advisors still "wing" pricing discussions, which opens the door to a whole host of avoidable problems. It is has consequences on the profitability of IAs and, by extension, their firms.