Ep #129: Basing Fees on Complexity - The Career of PJ Wallin

December 06, 2017


Deciding on your fee structure can be a challenge. In this episode, PJ Wallin fills us in on his method of payment structuring and gives some great insight into how to make it work for clients. He also shares the ups and downs of his career and his process of building a successful and unique financial planning business.

PJ goes into detail about the process that lead to him owning his own financial planning firm and why he thinks it worked out so well. He shares the sacrifices he and his family made and the wise financial decisions that helped them get to where they are. PJ discusses his experience using a coworking space and his transition to a unique and trendy office of his own which have shaped the development of his firm. Perfectionism as well as expectations vs. reality are also talked about and he provides some interesting insight on these topics that will be helpful to anyone interested in starting their own business.

Listen to the Full Interview:


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What You'll Learn from This Episode:

  • The complexity based fee structure and why it works so well with various types of clients.
  • Why you shouldn’t spend so much time naming your business.
  • The benefits to having an interesting and comfortable workspace.
  • How growth effects business in positive and negative ways and how to roll with it.
  • Why it can be good to have a side hustle but it’s important to not make your business a side hustle.
  • How PJ started a business with no clients and a $10,000 budget.
  • How he scored a side hustle to help out financially while building his business.
  • Why perfectionism slows you down and holds you back.
  • How small firms deal with custodian accounts and some choose the option to just not use one.
  • The importance of being able to sell your value proposition.

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