Ken Broaderip

Background

About Ken Broaderip

Without doubt our industry has reached a mature phase. Mature in several ways, including an average advisor age of between 50-60, average client age of between 60-70, and most importantly, an affluent client acquisition rate of less than 5 households annually. That's affluent households plus) not HNW households ($1 million plus)! Its not however bad new in the short run! Pre-tax income of most advisors is very respectable if not enviable. The options for monetizing the value of a client base at or near retirement of the advisor are many and lucrative. In the long run however, a stagnating growth rate is neither positive for the advisor nor for the industry. It would be too simple to suggest that the cause of stagnating growth is contentment or complacency on the part of advisors. Some advisors get involved with practice management to regain control over their business and to enjoy the benefits of a well run practice. Others go a step further and recover capacity to reallocate to business development. THE OECHSLI INSTITUTE It's this group of "Elite Advisors"​ we study closely and base our coaching programs on. The Elite Advisor or team is one that opens 10 or more $1 million accounts annually and with regularity. Less than 5% of North American advisors operate at this level. Each year we study this group to find out what they DO and DON'T DO to bring in this level of business. The great news is that there are highly consistent patterns and behaviours. What is clear is that in most cases "What got you here, may not get you there"​ to quote Marshall Goldsmith. In short, we can introduce new habits and move you toward "Elite Advisor" status!