A wealth management firm's organizational structure can have a big impact on how well it can serve clients and expand. Wealth Management IQ in partnership with BNY Mellon | Pershing, conducted a survey of advisors to examine how different types of businesses and practices are structured.
This latest research from Wealth Management IQ allows you to explore the different organizational structures, including solo practitioners, ensemble practices, and team-based models, and understand their implications for serving clients and driving growth. Valuable takeaways from the research and suggestions to enhance business success include:
- Insights into the impact of organizational design on serving clients and fostering growth
- Understanding the benefits and considerations of solo practitioners, ensemble practices, and team-based models
- Knowledge of the correlation between teaming, higher AUM, and serving affluent clients
- Considerations for transitioning to a team-based approach and the investment required
- Recognition of the enhanced enterprise value and wealth-building potential associated with team-based structures, particularly in the RIA and hybrid channels
Download the report to learn more.