A lack of investor confidence in the market has triggered advisors to work feverishly to strengthen client retention techniques over acquiring newer ones, according to a recent survey from SEI.
According to the survey, more than half of the advisors (51%) said their clients are still “extremely skeptical about the economy and very concerned with future growth.” As a result, advisors are heightening their focus on keeping their existing clients. Roughly 52% have chosen to rely on “bring a friend” events, which provides an “informal, non-threatening way for a client to meet someone,” said John Anderson, SEI’s managing director, practice management.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access