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A million-dollar equation

By Staff Writer

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What hard numbers are needed to build a million-dollar business? According to David Mullen, author of “The Million-Dollar Financial Services Practice,” you should have at least one $1 million-plus client ratio for every three in the $250,000 range.

You should have 75 relationships with each having at least $250,000 in assets, but with an average of $600,000 to $700,000 in assets. Another 25 relationships should have at least $1 million in assets, preferably with an average of $2.5 million in assets.

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