Optimal Client Household Count for RIAs
Finding the right number of clients is crucial for a profitable business without overextending a financial advisor's capacity.
Newer registered investment advisory firms must balance this amid the pressure of building a new business that relies on strong customer relationships.
Experts point out that the right client headcount varies widely across firms and depends on factors like the RIA's client niche, menu of services, fees and assets per household.
The availability of support staff and internal or external resources also plays a role.
Experienced advisors and other experts note that the optimal client count depends on various factors.Author's summary: RIAs must balance client count and capacity.
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