After such great feedback from last week's topic, this week I am speaking on net new asset growth in our businesses and why it's so difficult for advisors to bring on the amount of assets that they probably imagine bringing on year-after-year. The reality of our industry is that for many advisors who boast that their business is growing, much of that growth has come from their current book of business. Watch and listen to this video to learn how to capitalize on the opportunity to grow your business with new clients.
What are the takeaways?
- Make room in your book for the new assets and clients.
- Understand your business margins and scale; you’ll lose many of your lower-tier clients anyway.
- Generate recurring revenue off of clients who have a high net worth but don’t have assets.
- TAKE THE ASSETS FROM OTHER ADVISORS.
- Tell Gen X why you’re different.
Video is 10:00 long