Only a third of advisors have a marketing plan and only a third of that group actively implements it, according to Quantuvis, a Redlands, Calif.-based practice-management consulting firm owned by Genworth.
Advisors tend to fall into one of two categories, according to Natalie Doss, research manager at Quantuvis: The majority does too little; a proactive minority does too much. In fact, half of advisors say they’re solely—and passively— reliant on their firms referring business, while a further 25% say they’re highly dependent.
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