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In partnership with Janus Henderson, the Financial Planning Association® (FPA) conducted a study to determine what factors aid – or inhibit – an advisory firm’s growth prospects in today’s dynamic environment.
Have you ever wondered what sets the fastest-growing financial professionals apart?
Six Keys to Growth for Today’s Adviser – a new whitepaper based on research by the Financial Planning Association (FPA) and Janus Henderson – examines that question and provides action steps to help advisors revitalize their growth efforts.
The survey, conducted in October 2022, found that 46% of advisors are comfortable with their current growth rate, but only 12% would strongly agree with this statement. And while 71% of advisors reported that they are motivated to grow their business, the degree to which they have been successful in achieving a comfortable growth rate varies widely.
Based on the data gathered from the fastest-growing firms – defined as those that had onboarded 10 or more clients in the previous 12 months – FPA and JHI identified six key factors that contribute to growth: