RIA Trend Report: Distribution of Time Spent

RIA Trend Report: Distribution of Time Spent

Best Practices of Top RIAs

From the data collected on how RIAs spend their time each day we glean some interesting observations that illustrate differences in time allocation between advisors across the two defined groups. Activities are ranked on a 5-to-1 scale, with 5 the most time consuming and 1 the least. Most notably, it appears that advisors at top firms tend to spend more time on client service, portfolio management, and employee training. This is a logical result and likely indicates that the advisors at the top firms prioritize client relationships and leveraging their team of employees to operate their practice effectively. The other firms tend to spend more time on administrative activities of all kinds: general business needs, compliance, office tasks, and back office operations. This likely reflects their smaller scale and fewer in-house resources to which they can delegate these tasks. We also note that the other firms spend more time on online marketing, a finding consistent with the fact that this group of advisors is younger on average. 

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