 What we’re trying to do is help firms understand how to make every client relationship a profitable relationship. This is something that any firm that wants to grow needs to confront. An advisor can do an excellent job of serving every client they want to serve, we just want them to be more efficient.”Scott Slater, Managing Director of Business Consulting, Schwab |
Our Commentary
Some advisors bristle when considering client segmentation. Advisors at their core subscribe to the theory if I work harder and treat all my clients with the same respect, care and attention then success will surely follow. While this admirable outlook is likely what drew the advisor to the work they do, we need to work smart as well as hard. You can still live within the dogma of respect, care and attention and weave through efficiency and profitability. You client’s respect you as much as you respect them. They want you to be profitable so that your business is enduring.
