Advisors who want to boost firm profitability shouldn't shy away from reconsidering -- and raising -- the fees they charge existing clients. Giles Kavanagh, managing director of Pusateri Consulting and Training, says it's fair to tell clients that prices are being "corrected" to a fair level that matches the current cost of providing services. "Clients value trust and performance more than price within the overall advisory experience," Giles told participants at the Financial Services Institute's Financial Advisor Summit.

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