According to Cogent Research, 48 percent of a financial professional’s time is spent retaining current clients.* If you’re an advisor, you’re clearly focused on your clients — but can that time be spent more efficiently?
As new research shows, you may be missing an opportunity to address what matters most to them: a clear understanding of their ultimate investment goals and a plan for achieving those goals.*
If your email inbox is overflowing with white papers, survey results, industry articles, and loads and loads of data, you’re not alone. (I could include statistics supporting this claim, but then I’d be contributing to the problem.)
Don’t get me wrong. Research is invaluable, helping businesses adapt and thrive in a fast-changing world; and without it we risk losing touch in a highly competitive landscape. But nobody knows your business like you do — or could apply your particular brand of business intelligence to the research intelligence coming across your desk.
Did you know that nearly one in three affluent investors uses more than one financial professional?1 And, while many of these investors have specific reasons for doing so, many more do not. Instead, they tell us “it just worked out that way.”
Recently, Principal Funds teamed up with Cogent Research to explore the reasons why investors are using multiple financial professionals — and how they might benefit by consolidating their assets with a sole or primary financial professional.