Skip to main content

You are here

Advertisement

How Are Advisors Driving Growth?

While social media is all the buzz in financial services markets, making many advisors feel left out if they don’t have a strategy, investing in social media yields the lowest returns for gaining new clients. This is according to a recent survey of retail advisors from both RIAs and broker dealers from Russell Investments. Referrals from clients are the largest source of new business, even bigger than from centers of influence like CPAs.

Advisors are upbeat about their business and the markets, with 86% indicating that they have gained more clients in 2012 than they lost, and three-quarters are optimistic about the market. Only 32% of clients felt the same about the market, though that was the closest advisors and clients have been in Russell’s 11 quarterly studies.


Advertisement