The types of applications most commonly used by advisers
Th recent <i>IN</i>/Moss Adams Performance Study of Advisory Firms shows that 67% of new clients and new revenue come from either a client or center of influence referral. Yet despite this tried-and-true fact in the advisory industry, less than a third of advisers have a formalized process for cultivating referrals, according to the same study.
Several recent industry studies have found that advisers spend anywhere from 50% to 70% of their time actively managing and attempting to grow their practices, leaving precious little time to actually work with clients.
