You’re doing what?

The latest Kitces Research study reveals that the typical financial advisor spends no more than about 50% on direct client activity-related tasks, and barely 20% of their time actually meeting with clients!

In fact, the typical financial advisor spends as much time searching for the next new client (i.e., prospecting and marketing for business development) as he/she does meeting with all their existing clients from week to week.

Is the limitation on a financial advisor’s time and client-facing activities a matter of technology and staff efficiency or a limitation on how many relationships any one one advisor can manage.

The rise of technology has not resulted in more clients per advisor, but it did improve the level and quality of services to clients. Ongoing technology efficiencies may not increase advisor productivity, and instead may simply bring down the cost of financial advice.

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How Do Financial Advisors Actually Spend Their Time And The Limitations Of Productivity?

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