Improving advisor productivity is always top of mind in the wealth management industry. It’s a logical focus for wealth management firms looking to attract and retain top talent and increase assets under management. Advisors that have more time to work on growing their book of business, are more likely to be satisfied and they’re bound to be more profitable. According to BCG, “The costs that affluent-focused players incur in producing business are far too high, and they could become even more profitable if they were to increase efficiency.” They go on to state that top performers need 5 fewer assistants than average performers showing the link between efficiency and assets under management.
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