Client Segmentation Strategies to Improve Profitability (2020 Playbook #8) - NAPFA Credit Only
K-Marketing and Practice Management
Eighth in the 2020 Playbook Series
The longer an advisor is in business, the more clients they acquire and, as result, the more staff, overhead, and time is required to service clients. As a firm becomes more complex, a popular idea is that an advisor can “grow” their way out of problems, only to discover that the problems grow too. As success ensues, it breeds more demands and the need for additional revenue. When the balance to “keep it all together” gets out of alignment, the business continues, but with decreasing efficiency and effectiveness. This can result in friction that slows a firms’ development, impeding revenue, profitability and growth. Guest presenter Cameo Roberson, AAMS, shares how Client Model development enables firms to restore a healthy balance among client relationships and enhance the level and quality of services and profitability.
• How to evaluate the profitability of each client segment and create a service model for your A-B-C clients
• How to design a process to evaluate service capacity and better leverage your team to get maximum productivity
• How to establish service standards that align fees and account minimums with firm revenue and profitability goals
1 NAPFA CE in K – Marketing and Practice Management will be posted in your NAPFA CE record after downloading this recording.
This is a recorded webinar from October 6, 2020.