- December 2, 2019
- Posted by: admin
- Category: Uncategorized
Timing is not really an issue for advisors considering joining or establishing a team. PriceMetrix found that team advisors grow faster than solo advisors at all asset levels. There is, however, a sweet spot where team growth is most pronounced compared to solo practitioners. Advisors at or approaching $150 million to $200 million in assets will grow on average 9.3% as part of a team compared to 7.3% of advisors practicing alone.
“Teams grow faster than sole practitioners, not because of a division of labor or some magic of synergy, but because they do the fundamental things that drive growth,” said Trott. “They manage fewer accounts. They create deeper relationships and they are more likely to become the primary financial advisor for their clients.”