Is merging/acquiring the best way to grow your client base? Or can you get the numbers through organic growth?
KEY POINTS
- Growth is tough.
- You can’t force culture on people – it takes time.
- Staff recruitment is key for growth.
- Industry awards are a good recruitment tool.
- “Baking” a good adviser in-house takes 5-7 years.
- Technology is not a “Nice to have” when growing rapidly.
- You have to learn to say “No” as early as possible in a deal that doesn’t feel right.
- Need advisers that are hunters and farmers.
FOUR KEY GROWTH STRATEGIES
- Increase fee income per client.
- More clients, same number of advisers.
- Increase number of advisers
- Non-organic growth – acquisitions.
Expert: Keith Hare – Benchmark Capital
Facilitator: John Chapman – Orion Consultancy
