CFP Firms Lead in Revenues
A CFP certificate and an aggressive strategy for recruiting new clients are among the traits that are helping financial advisors grow their businesses, according to a new study.
“This year’s results call attention to the importance of continuing education within the financial planning arena,” says Mark Tibergien of Moss Adams LLP, a management consulting firm in Seattle.
“The results also suggest that firms will need to find ways in which to accelerate their revenue growth in order to combat rising costs.”
“The results also suggest that firms will need to find ways in which to accelerate their revenue growth in order to combat rising costs.”
The study—issued by Moss Adams, the Financial Planning Association (FPA) and SEI Investments—found that advisor firms with a CFP® certificant on staff had, on average, exceeded the annual revenue of non-CFP firms by more than $300,000 in 2003.
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