PA360 North: Smaller advice firms outshine as the most profitable

Speaking at PA360 North yesterday (4 October), Benchmark Capital senior business development consultant Dan Fairweather revealed that 95.5% of advisory firms with just one adviser are making a profit and 42.9% average profit as a percentage of revenue. Meanwhile, an advisory firm with between two and five advisers do not come far behind with 93.9% and a firm with six-50 advisers at 90.6%. That percentage amount drops when it comes to firms with over 50 advisers, with 72.2%. Additionally, the average profit as a percentage of revenue those firms make is -1.5%. Fairweather explained:...