If you’re shopping for a new cable provider, you expect to get a pricing rate sheet. Pay X, get these channels, pay Y, get these channels, and so on and so forth. No customization; just pick one of the packages – it may not have everything you want, and you’ll probably get stuck paying for some channels that you’ll never watch, but that’s how it’s done.
Some RIA vendors in the wealth management industry take a similar approach – if your firm is a specific size, and you run your business a certain way, your fees are a certain amount. You get a rate sheet, see where your business falls, and that’s the end of the conversation. We do things a little differently at TradePMR.
Instead of starting with the rate sheet, we start with your business. We want to understand who you are: your goals, how you are growing, and how you manage your client relationships. We look to find a pricing model that makes sense for our team and yours. A pricing model that will support your growth, not hinder it.
Pricing starts with a Conversation.
We believe that the role of a custodial service provider should be supporting the advisor. This means offering things like white-glove service and advanced technology, but it also means establishing a relationship that is designed to enable the advisor to succeed.
If your custodial service provider’s fees impact your firm’s ability to grow and reach the next stage of your business, you could have a big problem. Starting on the right footing with a custodial services provider, with pricing that makes sense for your unique business, can be a key to a successful relationship.
We start with a conversation to make sure TradePMR sets up contracts that make sense for each RIA. First, we learn about who you are, what you’re looking for from your next provider, and how we can help you get there. At TradePMR, we want to understand your pain points and how we can help solve them. We then dive into the metrics – your client breakdown, how you build portfolios, how your firm has been growing, and where you see your RIA in the coming years.
Once we have that information, we can more effectively develop a pricing proposal with your needs, challenges, and opportunities front-and-center.
The Pricing Proposal
The pricing proposal is just that – a recommendation. This is not an end-all-be-all; if we provide a proposal to work with your firm that you feel isn’t quite right, we want to have that conversation. We want to meet you where you are and build a relationship that works for your team and ours.
Every RIA is unique – what works for one firm may not work for another. TradePMR is 100% focused on serving RIAs, which means we’re 100% focused on offering the service and pricing that fits your unique firm, not any firm under the sun.
If your current custodial services relationship isn’t supporting your growth, or if you feel like a new approach to pricing could benefit your firm, we should talk. We can dive into your business, who you are, and if TradePMR could help you reach your next growth stage.