Skip navigation

Part 2: Expanding the client base is a win-win

Advisors prioritize both increasing and improving client satisfaction

As advisors develop their business plans for the coming year, most intend to continue to focus their efforts on client attraction and retention. The vast majority indicate they intend to grow profits in 2020 by driving higher assets under management and revenues, improving their marketing and prospecting efforts, and improving their clients’ satisfaction levels.

By contrast, relatively few advisors see improving business efficiencies as high priorities for their business in the coming year. Only one in four indicate interest in investing in new or existing technology to make their business activities more efficient. And fewer than 10% of respondents rank expense reduction as one of their top three priorities in 2020.