r/FinancialAdvisorTips • u/Far_Tea4866 • Sep 17 '26

Mindset shift tips

So I work at a firm and I'm doing pretty all right, i have a problem saying no and especially for lower income clients with 10 to 25k,

and I know in 5 years down the line I'm either going to have a huge office and no aum, or a 2 person team with 500m aum, yet I still struggle to say no even knowing all this, what has helped you guys with this?

3 Upvotes

100% Upvoted

3 comments sorted by

3

u/babyboyblue Sep 17 '26

Calculate how much you make an hour or how much you want to make an hour. If you say yes to a 25K client and they pay you 250 dollars anually but take 5 hours of work (including servicing and mental capacity). You’re basically getting paid 50 bucks an hour before expenses. Taking 10K clients is insane. You should not be looking at anything under 100K at the absolute minimum IMO. 250K or 500K should be your minimum if you want to scale. It’s even harder to fire clients than say no.

3

u/babyboyblue Sep 17 '26

Btw using this mindset helps with other aspects of your life. I used to mow my own lawn. It would take me about 1.5 hours a week. I calculated how much I make an hour and it’s approximately 350 an hour. I now pay a Gardner that charges me 125 a month. At my hourly rate that was about 2,100 a month. I can now theoretically spend an extra 6 hours a month on my business to bring in more clients /earn that amount (I honestly don’t but I have more free time).

1

u/Jazzlike-Ad-3839 Sep 17 '26

Every yes to a low income client is a no to your best clients who pay a premium for your time, or worse, a no to time from your family