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June 06, 2019 at 11:14 AM
How do some registered investment advisors outperform their peers when it comes to growing their client base and assets?
That’s what TD Ameritrade Institutional looked at recently, combing through the past few years’ worth of data, which it had collected through interviews of several hundred advisors.
Its review zoomed in on “large standout firms,” meaning those with at least $4 million a year in sales (or fees and commissions) as well as RIAs in the top quartile of revenue growth and profit margins.
According to the firm — which held its annual Elite LINC conference for about 200 RIAs in Southern California this week — these firms generally work with over $1 billion in client assets.
“The data reinforce what we’ve long believed to be best practices: Well-managed firms are investing in themselves, their people and platforms to build a foundation for a larger, more scalable and successful future,” according to Vanessa Oligino, director of Business Performance Solutions.
Overall, rigorous planning and analysis also seem to have an impact on positive results.
“Standout performance is the product of sound strategic planning, an intense focus on operations,” Oligino explained. “And, just as important, top-tier firms show they have the discipline to follow through on those plans over time, through thick and thin.”
Check out the gallery above to see what sets billion-dollar RIAs apart.
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