Without a budget, middle market clients are less likely to have AUM. This means that planners who charge for AUM or commissions alone might struggle to remain profitable working in this market niche. Planner responses suggest that a two-tiered approach to the middle market could be a more lucrative and successful model. Stage one includes budgeting, financial education, and goal development. Middle market clients at this stage could be provided with a standardized approach with common heuristics and coaching. This would require flexibility in the practice model, because a planner would likely need to charge a retainer, hourly fee, or a flat fee at this stage of the process. At some point, clients could graduate to stage two when they have enough assets and financial complexity to justify a commission, AUM, or continue on a fee-based model.