Debate: On the Merits of a “Free” vs. “Paid” First Consultation

Jun 10, 2016

It’s become fairly common for advisors who give Social Security workshops to offer prospects a free initial consultation on Social Security claiming. While most advisors agree that it’s good to use Social Security advice to follow up with workshop prospects, there was a spirited discussion on the merits of charging for it at our last Savvy Social Security 2-Day Intensive Workshop.

Those against charging point out that people are less likely to come in and see you if you expect them to pay for it, and that the charge—generally a few hundred dollars—is not worth the clients it could cost you. Proponents of charging for the consultation suggest people have become skeptical of “free” offers, and that charging creates a more honest context for a business conversation.

 

Comments


I have also gone back and forth on this topic as well. I will be trying a new strategy that kind of plays to both sides. Offer a "No cost" 1 hour consultation and then if they want a social security analysis done or any other services I will then charge a fee for it. I feel that if a prospect will not pay a few hundred dollars for my time and work to be done they probably will not be good clients.

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