Yesterday, The VIP Forum launched the first wave of its 2012 advisor benchmarking survey. Over 2,000 wealth advisors across the globe received the survey, with another couple thousand scheduled to receive it over the course of the month.
The survey examines the key drivers of advisor productivity and engagement in today’s environment, collecting key benchmarks including client loads, compensation levels, support staff ratios, time spend metrics, and intention to stay with their firm. The Forum last ran the survey in 2008, collecting 2006 and 2007 data, which will provide an interesting comparison to the post-crisis data.
Key findings from the 2008 survey, Boosting Advisor Productivity, included the following:
- How advisors spend their time with clients is more important than how much time they spend with clients
- Team support improves individual advisor productivity
- Targeted manager coaching improves advisor performance
We plan to analyze the data by key roles, including generalist relationship manager, business development officer, trust officer, private banker, and portfolio manager.
If you would like to learn more about the survey, please reach out to us at VIPResearch@executiveboard.com. All participating firms receive a custom benchmarking report comparing their firm to the overall industry and a self-selected peer group.
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