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Calculate the cost of client acquisition

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Advisors who are busy acquiring new clients need to pay attention to two key factors: the cost associated with gaining a new client and the time it takes to turn a prospect/lead into a client. Ed Friedman of Dynasty Financial Partners describes how to calculate these metrics and explains their importance in a column at Financial Planning. See the link below. Also, recent research from Vanguard finds that while eight in 10 investors give their advisors a “high” trust rating, about one-quarter of those investors have had that trust undermined by an experience with a current/past advisor, reports ThinkAdvisor. The research paper, titled “Trust and Financial Advice,” assessed 32 attributes regarding advisor skills, practices, and behaviors as drivers of trust. Read the full story below.

The science of client acquisition

By Ed Friedman

Source: Financial Planning

The lifeblood of every wealth management business and firm is growth in assets and in the number of clients. Very often, advisors become so focused on these goals that they pay little attention to the process, time and costs in acquiring those new clients. Two concepts that advisors should pay attention to are client acquisition cost and client acquisition time.


2 Biggest Reasons Clients Trust Their Advisors

By Emily Zulz

Source: ThinkAdvisor

Vanguard recently published a research paper – Trust and Financial Advice – that examines trust in the advisor-client relationship. The research finds that a predominant number of investors trust their current financial advisors, with eight in 10 giving their advisors a high trust rating. However, nearly one-quarter had an experience that undermined their trust in their current or previous advisor.


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