the Second Best Way to Grow AUM

Some Advisors have an existing untapped source of AUM that they are not fully exploiting!

Are you the only Advisor your clients work with?

If not, then why not?

Why do clients feel the need to diversify across multiple Advisors, the answer to this is surprising simple, in few cases there’s a legitimate reason, but across the board it’s based on a perception issue.

Client’s believe that each Advisor has differing capabilities, but this is not always even relevant to the client’s situation.

Here’s something to ponder - Is it the Client or are Advisors causing confusion in their own marketing narrative.

In my career, I’ve found that the second best way to grow is to harvest more assets from your existing clients. Most Advisors would agree that a large number of their clients have significant assets with one or more other Advisors elsewhere. In some cases, the sum of these might even be far greater than what you manage.

One common reason why clients have multiple accounts with different firms is corporate sponsored retirement plans, differed stock or option plans, or other simi…