This week’s ‘things a Millionaire Adviser does differently’ is one that often lands a little uncomfortably…

"They’re not afraid of their own charging structure"

Let us explain…

We often see firms with a clearly defined service proposition and ongoing fee say 0.75% - but when you dig into the client bank, the reality tells a completely different story.

0.6% here, 0.5% there, a long-standing client on a legacy rate, a discretionary discount that was never revisited.

Sometimes those decisions were made with good reason.But just as often, they weren’t.

They came from a moment of hesitation.

→ A quiet thought of “is this too much?”

→ What if they leave and work with someone else?

→ A doubt in the value being delivered.

→ A lack of confidence in backing themselves.

Over time, those small decisions compound.

And the challenge is, if you’re not fully confident in what you charge, it becomes much harder to invest in the next stage of your business - whether that’s people, systems or your own time back.

What’s interesting is that when advisers do pause and properly review this, the outcome is rarely what they fear.

We’ve been through this exercise with many firms now and we’ve yet to see clients leave because of a well-thought-through, value driven and confidently implemented fee structure.

Which says a lot.

So if your actual charging doesn’t quite match the one in your agreement, it’s probably worth a closer look.

It’s often one of the simplest things to fix and one of the most impactful.

Let Yoke help with my charging structure

And trust us, we get it, if there are cracks in your delivery, your operations or the service your clients receive, of course increasing fees feels uncomfortable.

But that’s where this really matters.

Reviewing those inconsistencies often unlocks the margin to invest in the engine behind your business - the people, the process, the delivery.

The result?

Your clients don’t pay more - they pay what they should have been paying all along.

And you finally have the capacity to grow, and improve their experience at the same time.

If you want a sounding board, a confidence check or a proper look at your current charging, our operations team are always happy to have an honest conversation.

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