2x Faster Annual Growth Rate For High Readiness Advisors

Oct 14, 2022

The single most predictive variable for organic growth is advisor readiness –an advisor’s will, skill, and time to direct towards growth opportunities. By focusing your resources and efforts according to advisor readiness, it is possible to drive higher and faster growth –for your advisors and the financial institution. The readiest advisors are not always whom you think they are! How do you determine growth readiness?

Institutions that focus on advisor readiness experience significantly faster annual growth rates than those that do not. Let’s take a closer look at the concept of advisor readiness and how to assess it.

Readiness Factors

The variables that correlate most with an advisor’s success in any effort are defined by their readiness level, which is comprised of three elements:

WILL: The advisor’s intrinsic motivation to implement a specific set of strategies to achieve a goal is the greatest driver of success.

SKILL: The advisor’s ability and experience in executing a set of activities or strategies. It is important to identify areas where the advisor is less skilled, so the financial institution to provide appropriate training and support to address opportunities for growth.

TIME: Does the advisor/practice have the time or capacity, or are they able to make the time to execute the mutually agreed upon activities that are crucial to achieving their growth goals?

Each of the above elements are measured and combined to arrive at a Readiness Score. The score is an actual predictor of success that can be relied upon.  

In addition to being able to identify the group of advisors who will grow the fastest (and the group that will grow the second fastest) If an institution applies its resources to higher readiness scoring advisors, it will achieve a higher ROI against those resources. If it squanders its resources against lower readiness scores, it will experience low ROI against those resources.  

ActiFi’s SuccessPro platform is designed with Advisor Readiness as a core concept to scale and deliver institutional results. The ability to build in practice demographics as factors alongside readiness helps target specific advisors across the advisor population and tailor programs for new, mid-career, elite, and transition stage advisors without losing track of advisor readiness. This takes the firm beyond the usual suspects and allows them to mine significant new opportunities for growth.  

Want to see SuccessPro in action? Reach out to us today!

Back to Engagement Hub

Get in Touch

If you’re ready to get started with SuccessPro by ActiFi or you just want to learn more, our team would love to hear from you.

"*" indicates required fields