Limra and McKinsey released a study that measured preferences and sentiments of experienced financial advisors and how they viewed their jobs. (Experienced advisors were defined as those with a tenure of three years or more.) It focused on things such as the aging advisor sales force, best practices to drive growth, a shift in product mix and new technology.
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We have duplicated charts (below) that show specific reasons why some advisors leave their firms, while others stay put. The third chart (bottom) shows four specific best practices that will increase productivity for an advisor.
