Adding Project-Based Planning to Your Advisory Business

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The landscape of the financial advice industry continues to evolve. As more clients seek financial planning over investment management services, advisors must adjust their fees and offerings to keep up.

Traditionally, most fee-only and fee-based advisors charged clients based on assets under management. But to serve the mass affluent or early wealth accumulators, advisors are experimenting with alternative fee models, such as flat fees, hourly fees, and subscription or retainer fees.

One newer model that many traditional fee-only planners might not be familiar with is project-based financial planning. It’s a useful addition to a practice that can help broaden your reach.

Groups like the Alliance of Comprehensive Planners and the XY Planning Network have made the ongoing fee-for-service financial planning model a popular option. While there are many benefits to a…

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