For some time, your bank or credit union has likely been urging you to change your business from transactional to fee-based. In fact, many of you are in that process or have completed the mission. Those who have resisted this change have a variety of reasons supporting their status quo position. However, at this point, conversion appears to be almost mandatory. Fortunately, the path to change might be easier than ever.
So why does your business remain stuck in a transactional format. Many would say, 'It's the way I have always done things. My clients like it and so do I so why mess up a good thing?' Others love the instant gratification of completing a transaction, seeing it on the next day's run, and getting paid that month. But here is the biggest concern most holdouts harbor: 'If I convert to fee-based, my income will drop for an extended period of time." Please understand that it doesn't have to be that way.
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