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The Financial Advisor's Success Manual by Craig CMIEL, David Leo

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Chapter | Four

But What’s the Cost of Loyalty?

What is a cynic? A man who knows the price of everything and the value of nothing. —Oscar Wilde

How do you balance the cost of the services to be delivered in support of client retention and loyalty with the value of the client?

Many FAs feel they are too busy keeping their clients happy and managing problems to grow their businesses. That could be true or untrue but for the most part, advisors have not had a way to “know” where they were spending their time and whether that time was being appropriately invested in the “right” clients. Instead of advisors guessing where bottlenecks to growth are, this chapter proposes a methodology for estimating the time and cost of delivering services to client ...

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