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Hi all,
So I got my first client. Yay!! We talked last week and today he sent me all of his info to review. Everything will be done virtually. My question is would you charge for the time you spent reviewing all of his accounts? It took me about an hour and a half to review it all and I still need quite a bit more info. I feel like my time is worth something and don’t want to undervalue myself, but I also don’t want to overcharge. All of you that have clients, what is your normal course of action for something like this?
Thanks!
HeatherCongratulations Heather!
Great job getting your first client. I will defer to my AADMM colleagues who work virtually, as I do not. My answer to your question is “Yes” I would bill to review his accounts. During my initial meeting with a prospective client I discuss the services I offer and whether I will take them on as a client. I may look at a few bills and collect some information (5-10 mins) but I do not start working until we’ve established what the contract includes, and so I do not bill for that consultation.
Once the contract is signed, the clock starts and I bill for reviewing their accounts and doing whatever work will get me up to speed to handling their finances. This is explained in the contract.
In your question about what to bill, what was the client told prior to him sending you his account information? If you are reviewing his bills and other information, hopefully you have a contract (incl a confidentiality clause) in place which lays out how and when you expect payment for services. Wishing you all the best with your new client!
PS. I’m also happy to speak with you offline if you want to discuss issues related to how and what to charge for your services. It helps to find out what other DMMs and financial professionals are charging in your region.
Barbara Boustead
608-515-4083Yes, congratulations Heather!
The majority of my work is virtual, and I agree with Barbara that once the contract is signed I bill my clients for all the time spent on them. That includes reviewing past information and setting up the systems for their bills and mail and finances.
I would also be happy to chat offline if you want.
Cari
info@CarisCustomOrganizing.comI do some virtual work as well, and yes, clients will understand that it takes time to review & get organized, but you need a process for dealing with prospects that includes telling them upfront about what that process is and how you charge–even if you don’t know an exact amount before you see the workload.
A contract is essential to protect you and the client.I typically charge for the time as well, but I always tell clients when I first meet them that the first 2-3 months are likely to cost more because there will be additional time spent reviewing and doing clean up to get everything up to speed.
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