“Time Machine: How the Billable-Hours Business Model Works for Advisors and Clients” with Mark Berg - Episode #09 of NAPFA Nation

<p>In Episode #09 of NAPFA Nation, <a href= "https://timothyfinancial.com/team/#mark-berg" target="_blank" rel= "noopener">Mark Berg</a>, Founding Principal of <a href= "https://timothyfinancial.com/" target="_blank" rel= "noopener">Timothy Financial Counsel, Inc.</a>, talks with podcast host <a href="https://Marieswift.com" target="_blank" rel= "noopener">Marie Swift</a> about a new type of firm and a new potential audience for financial advice that is awaiting the financial planning profession. Berg, the Founding Principal of Timothy Financial Counsel, Inc., has proven how this business model can work for both financial advisors and clients – and says that it’s only a matter of time before we see much faster adoption.</p> <p><strong>Berg shares key concepts from his book, <a href= "https://www.amazon.com/Matter-Time-Principles-Methods-Financial/dp/B09L5CNH2T/ref=tmm_aud_swatch_0" target="_blank" rel="noopener">A Matter of Time: Principles, Myths and Methods for the Hourly Financial Advisor</a>, co-authored with Matthew Jackson, CFA®, including how financial advisors  can:</strong></p> <ul> <li>Price, position, and deliver hourly advice</li> <li>Segment their client base and prospect for an entirely new clientele</li> <li>Develop a relationship-based approach and avoid a “transactional” mindset</li> <li>Harness the potential of time-tracking to create a stable foundation for growth</li> </ul> <p><strong>Key points:</strong> Berg explains why he chose the hourly model for his firm after receiving calls from clients who didn’t fit the traditional models. He discusses the myths surrounding hourly financial planning and how his firm serves clients at different complexity levels. Berg shares the challenges he faced in building trust and convincing clients about his commitment to the hourly model. The firm has grown from Berg, as a sole practitioner, to a larger firm with multiple advisors. Understanding how they built their team, their hiring process, and the role of partners can provide insights into their success a