About 60% of an advisor’s time is spent on non-revenue producing activity.
It was one data point of many shared at last week’s Wealth Management EDGE. It reflects a shift in leadership expectations in the RIA world. New clients come with heightened expectations, pushing the need for organic growth to deliver the service they want. In order to keep driving growth, more advisors are willing to put their work under a microscope.
Intentionality in organic growth
Intentionality came through clearly in the “Driving Organic Growth” panel.
Shannon Spotswood, CEO of RFG Advisory, featured on the panel, as well as James Bogart, CEO and Founder of Bogart Wealth, and Nate Biddick, Head of Advisor Growth Solutions at Cetera Financial Group. Moderated by Gregory FCA’s Joe Anthony, the group focused on freeing an advisor to refocus more of their workday on activity that, one way or another, will spark organic growth.
There are no quick fixes here. Delegating or automating lower-value activities helps create space for more revenue-driving work. The panelists encouraged advisors to invest in marketing and growth functions. The results are not immediate, they agreed. But firms that make these investments, and stick to them, already demonstrate stronger momentum as businesses.
Marketing is most effective when viewed as an enabler of growth, not an isolated initiative. To make it work, firms need to:
- Align marketing strategies with overall growth goals
- Work with leadership to create accountability for marketing performance
- Help firms see marketing as an active contributor to their personal business success, not just a corporate function
Adapting to the generational shift
The ongoing transfer of generational wealth, and the sea change in client expectations, loomed behind discussions of capturing more organic growth. The “next generation” is no longer hypothetical.
There are two areas where this change is especially relevant.
First, firms must consider how they are engaging the next generation of clients. Gen X and Millennials are gaining financial influence. Their expectations differ from those of older clients. Marketing teams need to tailor messaging, channels, and content to connect with these audiences. Legacy marketing built around Baby Boomer preferences will not achieve the same outcomes.
Second, firms need to prepare for leadership succession internally. Many advisory firms are seeing G2 leaders take on greater responsibility. These leaders bring new perspectives on growth, marketing, and technology. Marketing teams have an opportunity to collaborate with new leadership voices to evolve firm positioning and storytelling in ways that connect with today’s and tomorrow’s clients.
Firms that anticipate these shifts and build marketing strategies to support them will maintain stronger connections with both clients and advisors.
Leadership, growth, and generational change are not new topics in wealth management, but they carry renewed urgency. For marketing and communications teams, this is a moment to help shape the future of the firm with intentionality.