Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here.

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Dear Bev,

My advisors are pushing back on our fees. They are frequently hearing from clients they believe they are paying too much for our services. We are largely an investment firm and we have an institutional-quality lineup of analysts and portfolio managers. Clients, in my view, get every ounce of their fee and more.

One of the pushes has been that we need to integrate more planning into what we’re doing. My contention is that clients hired us to fill a need – as their investment expert. Most are extremely wealthy individuals who have other providers and we are a sleeve of what they are managing. It’s a specific set of strategies we offer to fit in a well-rounded portfolio.

I think we should stick to our knitting and do what we’ve always done and not veer off track. However, I also think we should be selling value and not price. Most of our clients couldn’t get the expertise we’re giving them for twice the price and in many cases they couldn’t access it at all.

How do I get my advisors to see this as clearly as I do?

Y.N.