Bigger Is More Profitable, Finds FPA Survey

Tibergien, Mark C.; Pomering, Rebecca H.
September 2000
Journal of Financial Planning;Sep2000, Vol. 13 Issue 9, p58
Academic Journal
This article focuses on the survey "2000 FPA Financial Performance and Compensation Study," conducted by the Financial Planning Association which deals with the management practice of financial planning firms. Over 700 financial planning firms participated in the 2000 survey, including 284 solo practitioners and 419 ensemble firms, or "group" practices. By the nature of the profession, it appears that most practitioners have a nurturing approach to clients and put less emphasis on managing the relationships in a more productive way. The more productive firms in the study were also the more profitable firms, which allowed them to invest in the technology, staff and other resources to better serve a greater number of clients. Whether the firm is a solo practice or an ensemble firm, professional staff productivity is the most significant difference between high-profit and other practices. Looking at the ensemble firms in the study, they found that high-profit firms generated $54,366 more revenue per professional than all other firms.


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