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Streamlined Fee Adjustments Boost Value and Client Satisfaction for Cumbie

Implementing annual fee increases can be challenging for financial advisors, but it’s essential for long-term business sustainability. Cumbie Advisory Services, Inc. (CASI) demonstrates how a structured and transparent fee increase approach can align client satisfaction with firm growth. With AdvicePay’s automation, CASI has simplified annual fee escalations, enhancing both client understanding and operational efficiency.

The Challenge

CASI needed a consistent, predictable way to implement fee increases that would avoid negative surprises for clients while reflecting the rising cost of delivering high-quality financial planning. Without a structured fee increase plan, they risked alienating clients or undercharging for the service value delivered.

The Solution

CASI established a clear, upfront annual fee model that incorporates inflation and merit adjustments, all managed through AdvicePay’s automated billing and notification system. This approach ensures clients are informed well in advance and notified automatically, giving them time to review and approve each increase, ensuring transparency and ease.

START YOUR STORY

Guy M. Cumbie, President

"From a very broad economic perspective, financial planning fee increases through time, structured properly, enable service providers to maintain the nominal compensation stated in their original fee quote in real, inflation adjusted terms.  Additionally, properly designed, scheduled, and communicated fee increases allow providers to receive merit compensation for continually upping their game in terms of professional competence (talent) and organizational capabilities (systems & tools) to deliver value for clients."

The Results

Through structured annual fee increases, CASI maintains client satisfaction and long-term business growth.

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Client Experience

CASI delivers a predictable fee model, reducing client surprise and fostering trust

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Simplicity

Automated fee escalations through AdvicePay simplify the process for both CASI and clients

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Transparency

Clients are notified of fee changes and understand the value behind each adjustment

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Efficiency

Monthly billing and clear terms streamline client payment and reduce administrative work

Key Takeaways

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Transparency Fosters Trust

Clear communication of fee structures builds client confidence

Transparency Fosters Trust Clear communication of fee structures builds client confidence
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Automation Simplifies Operations

Automated billing helps firms manage fee adjustments efficiently

Automation Simplifies Operations Automated billing helps firms manage fee adjustments efficiently
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Clients Value Consistency

Regular, predictable fee increases are easier for clients to budget for

Clients Value Consistency Regular, predictable fee increases are easier for clients to budget for
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Structured Increases Reflect Service Quality

Clients understand and appreciate fee adjustments aligned with enhanced service quality

Structured Increases Reflect Service Quality Clients understand and appreciate fee adjustments aligned with enhanced service quality

CASI is a Fort Worth, Texas based, boutique professional services firm founded in 1988. The CASI team is dedicated to providing high touch, "real" personal financial planning, investment management consulting, and Heritage Design services in a manner tailored to fit discerning individual clients and their families' situations and preferences.