The ability to raise fees is another critical consideration for growing a firm's bottom line. Garrett is planning to raise her $180 hourly fee to between $210 and $240 in the near future and says that most of the 150 planners in her network have some plan in the works to do the same.

Houston-based planner Suzanne Fails is one of those planners. She launched her business, Roberts and Fails, P.C., with partner Leah Roberts in October 2001. The interdisciplinary firm, which provides planning, tax preparation and accounting services to middle-income clients, has been part of The Garrett Planning Network Inc. since its inception.

To maximize profits, the partners plan to increase their hourly planning fee from $125 to $150 by year's end. To increase volume and free up the partners, the firm has been using a virtual paraplanner and is in the process of increasing her hours to do planning and accounting work.

That may not solve all their staffing needs, however, thanks to the rising number of clients. The number of tax clients grew from seven to 40 last year and will likely increase significantly again this year. "Both our planning and tax business is growing as a result of referrals," says Fails, who will hold a strategic planning retreat with Roberts in the coming months to decide the best and most cost-effective way to staff the firm. "It may mean taking on an accountant. We may also look for some other professionals on a virtual or project basis. We'd like to use seasoned people and still create a profit margin," says Fails.

Despite the type of growing pains smart firms like Fails' are experiencing, the long-time CPA says she is happy to be building a real firm with going concern value that serves 75 middle- and upper-middle income clients.

She's not alone in considering outsourcing and the use of virtual paraplanners as a workable and profitable way for senior planners to create more billable hours. New Hampshire-based Hull also subcontracts some of his firm's less arduous financial planning work to virtual planners he's vetted. That gives him more face time with clients and to market his services.

Bryan Clintsman, a Southlakes, Texas-based advisor, spent 14 years as a financial planner for wealthy clients at two of the former Big Eight accounting firms before launching a firm that caters to both middle- and upper-income clients. He decided he enjoyed working with the middle market after spending part of his time conducting educational seminars for 401(k) participants at corporate clients.

In his second year of business, the advisor is seeking to add a paraplanner-ASAP. His one regret is that he waited so long to do the hiring. "I think it doesn't make sense for advisors to use their time to do photocopying and set up meetings. Days should be filled with client meetings," says Clintsman, who foresees hiring two to three paraplanners and one or two other full-time planners with niche experience in insurance and estate planning over the next three years.

"I think working with middle-income folks can be profitable, but you have to be careful," the planner says. "Solo, you can make a good living, but you won't get rich. That's why I'm on my way to building a multi-person firm," he says.

Clintsman is also toying with the idea of raising his $180 hourly fee, maybe in the next year. "I haven't found fee resistance," he says. "Clients control the relationship. I explain it as being similar to selecting food in a cafeteria line. They can take as much or as little as they like now, and come back through the line when they want to."