News Item

Advisors Spend Less Than 20% of Their Time Meeting Clients, Study Claims

Posted on April 4, 2019

Financial advisors are spending less than 20% of their time in client meetings, a survey shows.

“If 80% of advisors’ time is consumed with back-office and administrative tasks, they may only see clients once or twice a year,” Michael Kitces, director of wealth management at $2 billion Pinnacle Advisory Group, says. It’s “hard to retain clients like that.”

And heavy administrative and back office burdens may be the cause of such meager contact time with clients, the survey of over 1000 FAs seems to indicate.

Full article on Financial Advisor IQ

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