PP 036: PRICING SERIES – Rick Horvat – Pricing for sustainability and longevity in a pure fee for advice, independent financial planning practice

In this episode we’re joined by Rick Horvat from Horvat Financial Advisors

Horvats is a family-based, self-licensed, independent financial planning business in Melbourne, about 10 years old.

It's small - with 5 staff and just over 100 clients - and wants to stay small. The business decisions their team have made around size, have influenced not only how they run their business, but the types of clients they look after and how they price their services.

Rick will be part of a panel talking about pricing as an independent adviser, at the IFAAA Symposium on 30 October in Melbourne. The panel will be diving into some pricing examples and sharing their experiences with fee structures and decisions, so you can learn from their mistakes and successes. 
If you’re interested in learning more about the event, head on over to IFAAA.com.au and check it out. You don’t have to be a member to attend.

Listen and learn

In this episode, we talk about:

  • What big business decisions have been made at Horvats that have influenced how Rick and the team have priced their services, so their business remains sustainable and enjoyable over the long term
  • What pricing mistakes they made (including not having clients sign Terms of Engagement near the start of the process)
  • Why Horvats don’t put their fees (even just a range) on their website
  • What it’s like working with family