The September 9 release of Russell Investments’ Financial Professional Outlook, a quarterly survey of U.S. financial advisors, indicates that advisors would like to slice their client load. Half the respondents to the survey said they would like a smaller client list.
Respondents’ average client base clocked in at 392. This is far more than they’d like to manage, citing their ideal base at between 210 and 240 – with the average desired size a svelte 211.
The 43% of advisors who indicated they wanted to grow their client base were operating with lists that averaged only 140 clients; these respondents wanted to bring the list up to an average of 238.