Referrals remain the primary source of growth for advisory firms. Not only are referrals a fantastic source of growth opportunity, but they also get you better clients. I would like to spend some time on referrals—how they originate and what we can do to make sure we capture their full potential.
How Much to Pay for a Client?
Many firms consider incentive compensation for business development. The carrots are there, but the bunnies don’t seem to be running. That warrants a discussion about whether the carrots work in the first place, and how bonuses ought to be structured.
Finding Chemistry For Rainmakers And Team Players
For a firm to thrive, it needs to intentionally balance the needs of star performers with those of the team.