07.18.24
Branch Referral Flow Stabilizes, but Remains Low
by: Kehrer Group
Institutions referred 0.8% of their customers/members to advisors last year, the same household penetration as in 2022. The referral flow was buoyed by the referral performance in banks with at least 25 advisors. On average, they increased their referrals 10%, providing a counterweight to the drop of referrals in smaller bank firms, where referrals fell 33%.
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