A recent survey of advisors showed that 88% think such clients should be offered a more turnkey, limited model of service. Forty-two percent hand them off, either to other firms or to junior advisors.
Thirty-nine percent charge them higher fees. Currently, an advisor’s largest clients may be subsidizing the smaller ones. This can take away time spent with larger, more profitable clients and also erode quality of service to top clients.
Hiring a junior advisor to manage clients with less than $500,000 in assets is a pragmatic solution. It eliminates the time and quality drag from your most profitable clients without cutting revenues from the smaller ones.
It also provides a great training ground for advisors just starting out.
Creating a more turnkey model of service costs you less in terms of production, even for junior advisors, and frees up the time needed to answer questions and educate smaller clients.
You can leverage your business growth while upping the quality of service for each type of client.


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