Pricing Confidence

There is a long-standing assumption in the profession that a firm's pricing should be discussed only after the consultation. The reasoning, when stated, is that pricing varies by matter. The reality, more often, is that the firm is uncertain.

The Cost of Opacity

A prospect who cannot estimate cost will, in the absence of information, do one of two things. They will assume the firm is too expensive and leave. Or they will book a call solely to ask about cost — and become a low-intent appointment that wastes an hour.

In neither case is the firm well served.

The Range, Not the Quote

The honest firm publishes ranges. Initial consultation: complimentary. Simple will: a defined range. Uncontested matter: a defined range. Trial-bound matter: hourly, with a stated retainer.

A range is not a quote. It is a calibration. It tells the prospect whether they are in the firm's neighborhood. The prospects who book a call, knowing the range, are dramatically more likely to retain.

“A range is not a quote. It is a calibration.”

The Practitioners Who Hide

Practitioners who refuse to publish ranges most often do so because they have not done the math. They do not know what their average estate-planning matter actually bills.

The work of writing the range is also the work of running the firm with one's eyes open. Most partners, having done it once, find that their pricing was lower than it should have been. The transparency was free.