Just a quarter (26%) of advisers are tracking their ‘share of wallet’ when it comes to clients’ investable assets, with those that do not having been warned that they could be missing a growth opportunity.
Survey responses from more than 200 financial advice professionals, shared in Aegon and NextWealth's Organic Growth for Financial Advice Firms report, suggested that while only one in four are tracking the ‘share of wallet' metric, over a third (36%) are looking to boost the level of existing clients' asset under advice in growth bids. The benefits of 'share of wallet' tracking are not limited to growth goals, but could also help advisers to prepare and executed more tailored financial plans and improve client outcomes, according to report findings. Advisers who had a formally defined...
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