The Advantages of Working with a Consultant

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Higher Revenue Growth – Financial advisors who work with consultants grow their revenue by 20% to 40% faster than those who don’t. (Source: Cerulli Associates, Kitces Research)

Increased Assets Under Management (AUM) – Advisors leveraging consulting services grow their AUM by an average of 25% more than those who don’t. (Source: Fidelity’s 2023 RIA Benchmarking Study)

Profitability Boost – Firms that use consultants see a 15% to 30% increase in net profits due to improved efficiency and strategic planning. (Source: Envestnet & Cerulli)

More Time with Clients – Advisors who optimize their practice with consulting spend 33% more time on client-facing activities than those bogged down by operations. (Source: Kitces Research)

Increased Team Efficiency – Consultants help firms streamline operations, reducing administrative work by 20% to 40% and allowing advisors to focus on growth and client relationships. (Source: FP Transitions & Fidelity)

Better Work-Life Balance – 72% of advisors who hired a consultant reported significantly improved work-life balance and reduced stress. (Source: CFA Institute)

Higher Client Retention – Practices using consulting services improve client retention rates by 5% to 10%, leading to 50% higher long-term profitability. (Source: Harvard Business Review & Vanguard Research)

Client Referrals Increase – Advisors who enhance their business model through consulting see 20% to 50% more client referrals. (Source: Spectrem Group)

Succession Planning Success – 78% of advisory firms successfully engage consultants for succession planning transition, compared to only 47% of those who don’t. (Source: FP Transitions & Cerulli Associates)

Valuation Increase – Firms that optimize operations and client engagement through consulting increase their valuation by 20% to 35% when preparing for a sale or merger. (Source: DeVoe & Company)

Marketing ROI – Advisors who use consulting to improve marketing strategies see a 30% to 60% improvement in lead conversion rates. (Source: Morningstar & FMG Suite)

Higher Digital Engagement – Advisors who refine their digital strategy with consultants see a 50% increase in website traffic and engagement, leading to more prospects. (Source: InvestmentNews & Broadridge)