Outsourced Paraplanning Fees
I've been going for around three years now (wow is it really that long?!?!), and I've not yet increased my fees.
I'm considering doing this now, and I'm wondering what other peoples' approach is to this?
Do you increase each year, and by how much do you increase? I'm thinking about increasing by 5%, which is well below the rate of inflation, and then this leads on to the next question: does it matter if previously 'round' numbers turn into pounds and pence? It doesn't work well with my OCD!!
I'd appreciate your views 
Comments
Misread questions. Apologies.
I think you should do a cost analysis and work out your base cost to fulfil all costs, then consider the amount you need to develop your business and grow, and add margin to that.
I think it safe to say everyone will be increasing their rates with inflation at 9+% soon.
Are you freelance or do you employ? It’s a whole different ballgame if you employ.
(And an expensive one)
Michelle x
Hi Andy
We review ours every couple of years but on the advice of our NED we moved to much simplified charging structure to save any complication.
Like Michelle we know roughly what it costs us to write a report and add a margin on top of that, we also review our prices against others in the market. Most will give you an indication of what they charge if you are open and honest about why you are asking. The way I see it, there is enough work for all us to exist.
I will send you over our price list, so you have have a look.
Nathan
Hi Nathan,
I would be really interested in your fee structure as a direct comparison - I charge £50 per hour (no VAT) and it's a real rollercoaster sometimes, especially when quoting fixed fees for new business.
Hi all, we use an outsourcing Paraplanning team and they used to harge £50 + VAT per hour. now they have increased it slightly to £55 + VAT per hour and £70 + VAT per hour for a chartered paraplanner.
Drop me an email
nathan@plan-works.co.uk