For this installment of Accounting Today and Cetera Financial Specialists' Seeking Success project, we looked at the ways different firms with wealth management practices approach one of their most valuable assets: their current clients.
[IMGCAP(1)]This built-in audience for new services often goes untapped: Less than 10 percent of all firms reported marketing wealth management to more than half of their clients.
Contrast that with the 33 percent of our "Pacesetter" group of firms -- those whose wealth management practice is outstripping the growth of the firm as a whole -- who were targeting more than half of their clients.
They were also much more likely to be in frequent contact with the clients they were already serving with their wealth management offerings, with over a fifth seeing them at least once every two months.
Created in partnership with Cetera Financial Specialists LLC.
Visit www.ceterafinancialspecialists.com/expansion/ for our whitepaper, "The Road to Expansion," prepared by Accounting Today and Cetera Financial Specialists.
All data from an October 2013 survey.
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