News | 09.01.21
Asset Growth, Client Numbers Up for Advisors in This Year's First Half
A survey by business management consulting firm The Ensemble Practice found financial advisor firms claim to be in growth mode, with many on track to meet or exceed targets. Respondent firms reported median growth in assets under management (AUM) of 13.7% and 6% growth in client relationships in the first half of the year. The fastest growing firms grew their AUM the third quartile by 17.6%. The average firm added a median of 41 new relationships, representing a 7.3% client growth rate, and lost an average seven clients, or 1.3% of their client base. Firms also have prioritized adding new services and markets to extend their reach and offer more capabilities to clients.
Read the full article on Financial Advisor.