Consistent with last year’s survey, the top initiatives for RIAs this year are aimed at driving organic growth, improving client satisfaction, better business planning, and investment in technology. The two top initiatives, with 31% response rates for both, are 1) increasing profits via higher AUM and revenues; and 2) improving marketing and business development. And, approximately 20% of advisors list one of these two initiatives as their second highest priority, indicating that a majority of advisors are focused on actions and investment in resources required to drive robust organic growth. The next tier of responses includes improving client satisfaction, improving strategic business planning, and investing in technology, all of which garnered total response rates of one-third or more. In contrast, very few advisors report as a top-three initiative either expense reduction or selling their firm. Based on this hierarchy of goals, advisors are clearly more focused on investing in their business to drive sustainable growth.
Next Part 2 of 9: Top Initiatives Compared to Last Year