“What do you charge” for aged care advice were the words of the caller. I explained the price of advice depends on what you “need us to do” and what you’re willing to do to help to keep costs down. Effectively, it’s possible to determine our fee!
The next question was “what if we did X”? I explained “X” had potential to cause major problems from a fee perspective. The outcome would be worse if they did “X” than if we were allowed to position Mum’s assets in the most efficient and effective manner so that fees could be reduced.
When I heard her say “I want the best advice at the cheapest price” I shuddered. I’ve had to help people try to fix very expensive long term mistakes they made by trying to “do” aged care themselves.
We’re price sensitive to a degree and yet it’s important to remember, when it comes to aged care, the contract you’re about to enter is for life! A simple mistake could end up costing tens of thousands of dollars in increased fees and lost aged pension entitlements.
The last client I helped with aged care saved almost the exact amount of my fee by asking the provider a single question I’d encouraged her to ask. That’s a true measure of the value of advice, it can save you thousands!