A new study from PriceMetrix, a software firm which assists financial advisors, shows that many financial advisors are under-pricing their fee-based business — to the tune of $20,000 in average fees lost.
In order to drum up new business, many advisors offer big discounts to new clients, then find it difficult to raise their fees later, according to the report.
Many advisors are offering significant discounts at the outset of their client relationships and then find it almost impossible to raise their fees afterwards.
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