In the wealth management industry, production has always been where the rubber meets the road. But for years, the financial media and the industry itself have heavily focused on assets under management as a gauge of success.
Ranking advisors based on their AUM makes less sense as advisors generate more of their revenue from things other than managing client assets. Production now comes from referrals to other banking products like personal and commercial loans, underwriting and mortgages. Meanwhile, market forces are exerting downward pressure on many traditional sources of wealth management revenues.
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