RIAs looking to grow their businesses might want to consider opening their wallets — just a bit.
That's according to the 2014 Fidelity RIA Benchmarking Study from Fidelity Clearing and Custody, the division of Fidelity Investments that provides clearing and custody to registered investment advisors, retirement record keepers, broker-dealer firms, banks and insurance companies.
The study found that firms spending one percent more on marketing and business development can translate to a 20 percent increase in revenue growth. Giving marketing priority, and then devoting both time and money to it to make it work, could lead to returns that substantially outpace the investment
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