Advisers expectant of 20 new clients each year: Natixis IM
Australian advisers are expecting to take on 20 new clients in the next 12 months, compared to 12 clients globally.
A global survey by Natixis Investment Managers which surveyed 16 countries and 2,700 participants found Australian firms reported fewer challenges acquiring new assets or new clients.
They were expecting to take on 20 new clients per year compared to 12 globally and had an 11% target for annual growth in assets under management.
The most-challenging growth levers for firms were enhancing productivity and operational performance at 54.7% and changing pricing structure/fees at 50.7%.
On the other hand, acquiring new assets was an easier challenge for Australian advisers compared to their global counterparts.
Only 28% said acquiring new assets from new clients was a problem and 34% for new assets from existing clients compared to 49% and 41% for global advisers respectively.
Firms were also acquiring a higher volume of clients from referrals by existing clients at 90% compared to 71% globally. A further 65% said they received referrals from other professionals, compared to 47.7% globally.
When it came to staffing, over half said they had been unaffected by the ‘Great Resignation’ but just over a quarter (26.7%) said they had struggled to find quality applicants and had seen increased staffing costs (26%), in line with global responses.
Access to technology was the biggest factor to strengthening businesses over the next year followed by demonstrating value for clients, both at 52%. In contrast, access to technology was cited as a factor by just 37% of respondents globally, indicating the higher fintech usage outside of Australia.
AUTHOR
Laura Dew
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