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Forward Thinking Magazine : April 2011
practice management 43 Looming regulatory changes mean pricing models are top of mind for most advisers at the moment. When it comes to working out a pricing structure for financial advice, it’s essential to develop a model that is profitable and sustainable, and to ensure clients recognise the value they receive when they pay for advice. Consider all options when reviewing pricing models Written by Alexandra Cain, Journalist It’s also important to remember that although switching pricing models can be daunting, it’s an opportunity to improve the profitability of the business. All pricing structures have benefits and limitations and no pricing model is inherently superior to another. The idea is to be fully informed of the pluses and minuses of each approach and how altering pricing will affect the business, before making any changes.