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Many advisors neglect growth plans

Although 85 percent of firms reported having a strategic plan, only 17 percent said that their plan was key to their recent growth.

By Marlene Y. Satter | Updated on August 05, 2014
Last year was “(b)y any measure ... the best on record for the six-year tenure of annual FA Insight studies.” Photo: AP

Financial advisory firms are growing, with almost 75 percent reporting “significant” advances in size in a new study by FA Insight. However, only a third of firms have achieved “sustainable growth” that hasn’t contributed more than its share of growing pains. 

According to the study, growth by design is the most desired method of achieving that sustainable growth. And that’s not as easy as 2013’s numbers may imply. 

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