Ep #129: Basing Fees on Complexity - The Career of PJ Wallin

129-pj-wallin.png

Deciding on your fee structure can be a challenge. In this episode, PJ Wallin fills us in on his method of payment structuring and gives some great insight into how to make it work for clients. He also shares the ups and downs of his career and his process of building a successful and unique financial planning business.

PJ goes into detail about the process that lead to him owning his own financial planning firm and why he thinks it worked out so well. He shares the sacrifices he and his family made and the wise financial decisions that helped them get to where they are. PJ discusses his experience using a coworking space and his transition to a unique and trendy office of his own which have shaped the development of his firm. Perfectionism as well as expectations vs. reality are also talked about and he provides some interesting insight on these topics that will be helpful to anyone interested in starting their own business.

Listen to the Full Interview:

 

Want more from XYPN Radio? Become a VIP to access our private community!

What You'll Learn from This Episode:

  • The complexity based fee structure and why it works so well with various types of clients.
  • Why you shouldn’t spend so much time naming your business.
  • The benefits to having an interesting and comfortable workspace.
  • How growth effects business in positive and negative ways and how to roll with it.
  • Why it can be good to have a side hustle but it’s important to not make your business a side hustle.
  • How PJ started a business with no clients and a $10,000 budget.
  • How he scored a side hustle to help out financially while building his business.
  • Why perfectionism slows you down and holds you back.
  • How small firms deal with custodian accounts and some choose the option to just not use one.
  • The importance of being able to sell your value proposition.

Featured on the Show:


 

subscribe-with-itunesSubscribe-with-stitcher

Ep #338: Scaling to 100 Clients in 3 Years & Working 3-Day Weeks: A Conversation with Ryan Greiser, CFP® Ep #338: Scaling to 100 Clients in 3 Years & Working 3-Day Weeks: A Conversation with Ryan Greiser, CFP®
Ep #337: Launching a Firm With Investment Management Experience & Serving Firefighters: A Conversation with Patrick Clark Ep #337: Launching a Firm With Investment Management Experience & Serving Firefighters: A Conversation with Patrick Clark
Ep #336: Finding Balance Building a Boutique Firm & Serving the Dentist Niche: A Conversation with Reese Harper Ep #336: Finding Balance Building a Boutique Firm & Serving the Dentist Niche: A Conversation with Reese Harper
Ep #335: Building a Fee-Only Lifestyle Firm Through Good Times and Bad: A Conversation with Danielle Harrison Ep #335: Building a Fee-Only Lifestyle Firm Through Good Times and Bad: A Conversation with Danielle Harrison
Ep #334: The Future of #XYPNRadio: A Conversation with Alan Moore and Maddy Roche Ep #334: The Future of #XYPNRadio: A Conversation with Alan Moore and Maddy Roche

Subscribe to Email Updates

Let's Connect

Interested in learning more about how XYPN can help you start, run, or grow a successful financial planning firm?

Schedule a Call