My guest today is Michael Kitces of The Nerd’s Eye View. Michael is a lifelong learner with a passion for sharing what he’s learned with others. Michael is a financial planner, commentator, speaker, blogger, and educator. He holds multiple certifications and designations, including MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, and CASL.

Our conversation with Michael covered so much ground that we decided to split it into two separate episodes.

In this Part 1, we discuss client acquisitions cost, and the steps an advisor can take to measure how much money he or she should be willing to pay for a client given the lifetime value of that client. We also discuss the importance of aligning your client experience and service level with your fees to ensure that you practice remains sustainable.

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