Advisor.ca | Do You Manage Too Many Products?
Do you know the number of products you manage? Many advisors don’t.
Whenever I ask advisors how many positions they have, the answer’s usually, “I don’t know; a lot.”
Our research finds the average advisor’s book has more than 400 individual positions.
This number shocks most advisors. Often, the majority of their assets are with the top 50 names. On average, the 51st position in an advisor’s book is less than $225,000.
In other words, positions 51 through 400+ are smaller than a quarter of a million. (The 40-odd books we’ve reviewed each had an average of more than $80 million in assets.)
What’s more, advisors usually tell me they feel comfortable managing fewer than 30 positions.
Paring down gives you more time to concentrate on your best positions. Not only will you be more informed, you will be able to more effectively leverage your preparation time for client meetings.