What are all leading advisors doing?
From the research, we can conclude there’s no single best practice every leading advisor uses to improve and grow their business. However, we can affirm there are three major principles that drive advisors’ success: Business Management, Client Experience, and Marketing.
Learn more about the following principles and redefine what success looks like for you:
Structure, run and grow your business successfully through Business Management
Business management encompasses all of the processes you use to run the operations of your business and your team. 98% of advisors have implemented at least one business management practice, the most popular being performing annual reviews with clients with 79% actively doing so.
Build long-lasting, beneficial relationships with exceptional Client Experience
Client experience is how you connect with clients. 95% of advisors have implemented at least one client experience best practice. Most advisors would overwhelmingly agree that focusing on clients is crucial for their business, however the top proven practice of segmenting existing clients was only adopted by 69% of advisors.
Create trust and recognition with clients and prospects through effective Marketing
Marketing is how you build your brand and elevate your value. 94% of advisors have implemented at least one marketing best practice. 67% of advisors have created and can articulate their brand or value proposition, which is the most implemented marketing proven practice.
There are 23 other proven practices that are widely used amongst advisors. The average number of best practices implemented is 12, with advisors planning to incorporate three more best practices on average within the next two years.