Top-Earning Advisors Are Holding Firm On Fees

July 5, 2018 by Cyril Tuohy

Top-flight advisors, many of whom saw assets and revenue hit record highs last year, share several characteristics, new research discovered.

According to the State of Retail Wealth Management published by McKinsey’s PriceMetrix division, successful advisors:

• Held the line on fees and refrained from lowering them.
• Generated a higher percentage of their revenue from fees as opposed to commissions and have more discretion over accounts.
• Added more household relationships in 2017 than less successful advisors and deepened relationships with current households.
• Attracted more younger investors.
• Worked with a team as opposed to by themselves.

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Originally Posted at InsuranceNewsNet on June 27, 2018 by Cyril Tuohy.