Planner Pulse 027: [Pricing series] Gary Lucas — Pricing values and outcomes based advice (plus bonus portfolio strategy chat)

Today I’m joined by Gary Lucas who is a financial planner and director at DMG Financial in Sale — a regional town in Victoria of about 14,000 people.

DMG Financial is a mature business. It has accounting and audit divisions, and employs around 40 staff.

The chat I had with Gary was recorded back in April 2015, not long after the Trowbridge report was released. 

Listen and learn

In this episode, we talk about:

  • How DMG Financial — which is a mature financial planning business with a lot of legacy clients — is transitioning away from commissions and funds under management, to dollar-based fees

  • The process Gary uses with clients, and where the fee discussion fits within that process

  • How Gary has managed to get the team on board and involved in the transition process

  • What DMG recently changed around how they manage investment portfolios, so they are able to deliver better outcomes for clients

Engage the whole team.
— Gary Lucas

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