10 Pieces of Free Advice to Share With Clients

People still use taxis in major cities. The meter starts running when you get in and keeps running, even when you are stuck in traffic. If you call your accountant or lawyer with a question, you might get a bill at the end of the month based on the length of your conversation. Financial advisors are often lumped into this category for a different reason: "You only call when you want to sell me something." Another version is: "Every time I talk to you, it ends up costing me money." The job of a financial advisor involves delivering a service and getting paid for it. One of the messages you want to communicate is "Knowledge has value." This can make sense from the other extreme as well. You have heard the expression: "Free advice is worth what you paid for it." Imagine having conversations when the client learns something valuable but does not get a bill for the experience. As a writer, I remember an editor mentioning "Only a blockhead works for free," so you do not want to make a habit of it. But giving away knowledge now and then can make a great impression. Do you think the client will tell others? You know the answer. Here are 10 instances where you might share knowledge, deliver value to the client and not send them a bill. Most deal with different aspects of financial planning. In many of these situations, your client should be thrilled by the advice. The cost is zero in most cases. You deliver value. This is a win-win.