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Biggest Challenges for Advisors
Survey of 31,000 Financial Advisors

3522 Respondents asked:

"Please rank the problems or challenges in your business from the most significant to least significant,
(1 is most significant, 13 is the least significant).
Method of Generating Business
Problem
1
2
3
4
5
6
7
8
9
10
11
12
13
Prospecting for New Clients 1276 846 355 246 190 133 116 82 59 66 35 83 35
Too Little Time 822 333 279 263 253 247 294 232 174 160 135 111 219
Obtaining referrals 232 441 480 415 409 337 532 230 161 122 90 44 29
Closing sales 171 302 286 310 468 289 247 250 297 305 252 228 117
Breaking your production plateau 169 204 226 366 341 351 325 324 327 463 218 141 67
Creating alliances 160 274 269 327 311 280 281 269 275 246 269 442 119
Managing your clients portfolios 149 134 139 139 198 242 234 286 324 300 326 368 683
Focusing on one aspect of business 126 305 446 590 354 324 273 233 237 209 200 151 74
Filling seminars 121 206 231 260 268 307 322 494 274 230 279 253 277
Finding, hiring, good assistants 104 204 438 192 183 189 225 238 210 256 304 404 575
Low personal motivation 95 78 100 106 191 209 215 283 503 356 350 410 626
Limitations your firm creates 66 99 138 119 148 169 199 282 307 373 627 497 498
Retaining clients 41 98 135 190 206 444 255 315 371 434 441 388 204

Summary: The predominant challenge of financial advisors is client acquisition. To meet new clients everyday, click here.

obtaining more clients   27.4%

obtaining better clients   51.3%

getting appointments   21.3%

"Too little time" was defined by 68% of advisors as "too much busywork, not enough time for revenue generating activities."

Questions? Call 866-952-4065