Twenty-nine percent of advisors reported that their business grew by more than 25 percent in 2018, when compared to the previous year. In fact, all of the advisors we spoke with reported growth of at least 10 percent last year.
Looking forward, 54 percent of advisors expect their business to grow by at least 25 percent in the next five years. An additional 17 percent expect their business to grow by 20 percent.
One advisor tells us they had to bring in new talent in order to maintain their growth. “We added two advisors,” they said. “Our business has grown substantially, and we have been unable to keep up. With the extra advisors, we are increasing sales and not turning away business.”
Another advisor says the growth has helped them be more selective about clients, which has also helped them aim for higher revenue per booking.