Secrets to success for RIAs
Marketing
Top-performing firms are more likely to have a marketing plan, according to the Schwab study. They’re also likely to spend more to execute their marketing plans.
Firms that have a documented marketing plan:
Top-performing firms: 56%
Firms over $250 million: 42%
Firms under $250 million: 27%
Average spending on marketing and business development as a percentage of revenue:
Top-performing firms: 2.3%
Firms over $250 million: 1.5%
Firms under $250 million: 1.8%