STUDY SAYS FEE-ONLY ADVISORS BOOSTING CLIENT REVENUEFee-only financial advisors are increasing client numbers, revenue and profits at impressive rates, according to a new benchmarking study issued by the National Association of Personal Financial Advisors and produced by CPA and business advisory firm Moss Adams LLP.

The study, representing 20 percent of NAPFA member firms, showed that between 2003 and 2005, both revenue and the number of clients per firm grew at an average annual rate of 21 percent. Median assets under management increased at a rate of 30 percent. As a percentage of revenue, direct expenses (compensation for professionals) declined, and overhead expenses remained in check over the 2003-2005 period. This resulted in an average operating profit growth for the surveyed firms of 46 percent.

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