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Go beyond a million-dollar practice

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To go beyond a million-dollar practice you should aim to bring in $50 million in new assets each year, according to David Mullen, Jr., author of “The Million-Dollar Financial Services Practice.” To do this, he says, you should bring in 12 new $1 million relationships each year.

You can reach 25 percent of your $50 million goal through existing clients. Most clients hold between 50 and 100 percent of their assets in an institution other than the one with which they have their primary relationship. Referrals and a strong CPA network can both provide another 25 percent, leaving only 25 percent of your new assets to come from marketing and networking.