Wirehouse Enlists the Kelley Group to Conduct Four Month Study, Provide Structured
Client Acquisition Processes Designed for Current Economic Environment
Los Angeles — August 26, 2021 — The Kelley Group announces today the results of a four-month study, The Coaching and Training Impact Study on Advisor’s Client Acquisitions (August 2021), to ascertain if seasoned financial advisors, those with 10 plus years of experience and robust client roster, could experience measurable growth with the short-term addition of training, coaching and peer accountability. The results of the study were conclusive as participants averaged double-digit percentage growth in client acquisition and subsequent new assets for management.
The study was commissioned by a major Wall Street firm. With limitations for in-person interaction resulting from the pandemic, and the continued increase in technology designed to screen or block cold communication as well as opt into a do-not-call, -email or -market list, the need for innovation in client acquisition has become critical for service-based professionals, specifically the financial services industry.
“When posed with a new challenge to overcome, innovation and application are key,” said Brooke Kelley, co-founder of the Kelley Group and co-organizer of the study. “We brought the innovation to the group, along with the training and coaching to help participants apply this innovation in a structured way, and their results were truly astounding.”
In the study, 15 seasoned financial advisors were sampled from the 270 who qualified. Qualification criteria included 10 years or more of experience in their current role and oversees a mature book of business. Metrics tied to advisor-rankings for new client acquisition and growth in assets under management were evaluated in December 2020, and again in April 2021. On average, the sample group experienced a 47-position increase in rankings for net acquired asset growth during that period. Other key findings included:
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- 303% average increase in their own request for introductions to prospects from existing relationships
- 329% average increase in referral introductions received from existing relationships
- 198% average increase in assets received
“Being amongst ‘the top’ can be lonely for a lot of professionals, and to stay at the top one must possess the mindset and ability to respond and adapt to the continuously changing economic environment and their clients’ needs,” stated Sarano Kelley, co-founder of the Kelley Group and co-organizer of the study. “Where most people fail is not sticking to their plan. Accountability is the key to reaching and, more importantly, maintaining, top levels of success across any industry, financial included.”
In response to this accountability challenge, and as part of the structured training and coaching offered through this study, The Kelley Group employed its 5x Accountability System and integrated it throughout the four-month period. The 5x Accountability System applied included:
- Personal accountability through statistical tracking and reporting
- Weekly coaching sessions with Sarano and/or Brooke Kelley
- Weekly team interactions and reporting
- Daily interactions with an accountability partner
- Accountability to stakeholders – sharing goals with family, friends, clients and team members at the beginning of the training and sharing results at the end.
“The firm’s managers found this increase to be superior when compared to the larger population of advisors,” shared Sarano Kelley. “This really does illustrate, no matter where an individual is in the course of their career, even at the top, training and coaching can be effective. But what really makes the difference is pairing it with a formalized system of accountability. This ensures advisors work to incorporate the new processes and procedures they’ve learned into their daily routines and remain focused and committed to reach the personal and professional goals they have set.”
The Coaching and Training Impact Study on Advisors’ Client Acquisitions study is the first to be released in a series of subject-specific studies for the financial industry that The Kelley Group has performed over the course of 2021. Upcoming studies scheduled to be released include subjects such as: Financial advisors growing their COI network and referrals; Managers increasing their recruiting effectiveness; Insurance agents boosting sales; Minority advisors driving record growth during the pandemic, and similar.
To request a complimentary whitepaper detailing the process and results of “The Coaching and Training Impact Study on Advisors’ Client Acquisitions,” or to attend a webinar on September 21 to hear a synopsis of the study, CLICK HERE or visit: https://thekelleygroup.net/2021-09-21-record-client-acquisition/
About The Kelley Group
The Kelley Group is the financial services industry’s leading provider of speaking, top-ranked coaching, and world-class training to elite advisers and senior managers throughout the premier North American financial institutions and independent channels. The Kelley Group is known for its breakthrough processes for producing tangible business-growth results, many of which they regularly speak upon via webinars, trainings and platform presentations, where Sarano Kelley is consistently rated as a top speaker. Founded in 1996, the Kelleys have trained more than 250,000 advisors, with Brooke Kelley serving as a long-time coach to many of the top Barron’s and Forbes listed advisors, including some of nation’s most influential and accomplished female advisors. They have authored three books together, including: Reversing the Deal Flow: The Secret to Prospects Calling You to Become Clients; The Game: Winning Your Life in 90 Days; and industry “how to” book on recruiting, A Guide to the Recruiting Conundrum. The firm is also committed to ‘Stand Up for Financial Literacy,’ an industry-wide campaign promoting economic education for all of America’s youth. For more information, visit https://www.thekelleygroup.net.
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