Determining the right price for your services is not a snap decision. It requires a deep understanding of your competitive environment, target clients, existing book of business and careful approach to any anticipated fee changes.

Pricing for asset management has historically been a function of business development, resulting in a fair amount of give and take on setting and adhering to fee schedules. Every asset management firm has a published fee schedule for fiduciary and asset management services. But providers and clients know those schedules are often just “a starting point”. In reality, most asset managers are willing to discount fees based on the expected size and duration of the relationship.

While there is nothing inherently wrong with discounting fees to acquire and retain assets under management, most top performing banks look at the practice as temporary, and they have long term plans in place to achieve optimal pricing for all accounts.

  • Discounted and waived fees bring down profitability and create a competitive disadvantage
  • Achieving and maintaining optimal pricing is a continuous process involving research, analysis, discipline, and monitoring.
  • The buying habits of high net worth individuals show they are willing to pay for quality services

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Wealth Management Consulting

Optimize the revenue potential of your wealth management services with the Wealth Management consulting practice from Fiserv. This service can help you maximize revenue sources, generate process efficiencies, realize expense reductions and better understand your market position.

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