Closing the Back Door: Driving Growth by Stemming Advisor Attrition

Closing the Back Door: Driving Growth by Stemming Advisor Attrition (August 2016)

The scarcity of successful financial advisors has pushed advisor recruitment to the top of the “to-do” lists of investment services sales managers in banks and credit unions.  But many firms report losing an advisor for every one they recruit.


This study examines the experience of 36 financial institutions to:

  • Describe their attrition rate – how many advisors did they lose and where did they go?
  • Calculate the cost of “regretted” attrition – advisors who leave for another firm.
  • Identify best practices in advisor retention tactics.


The analysis provides a convincing case for the outsized cost of losing a good advisor, and why the firm should devote more resources to keeping the keepers.



Fewer than 25 Advisors:          $450

25 to 100 Advisors:                   $750

More than 100 Advisors:         $1,500

*Licenses available to distribute complimentary copies of the study; contact Ken Kehrer for more information. 


Participants in the Kehrer Bielan Survey of Recruiting and Retaining Advisors in Financial Institutions receive a 33% discount.


List of Participating Institutions:

Alliant Credit Union

Associated Investment Services

BB&T Investment Services

BMO Harris Financial Advisors

BOK Financial

Capital One Investing


Centra Financial Services

CommunityAmerica Financial Solutions

Credit Union Financial Network

Denali Alaskan FCU

Desert Schools Financial Services

Elevations Credit Union

First Bank

First Citizens Investor Services

FirstMerit Bank

First Tech Investment Services

Fulton Financial Advisors

Golden 1 Credit Union

Heartland Financial USA

Key Investment Services

Navy Federal Financial Group

Old National Investments

Patelco Credit Union

People’s Securties, Inc.

Popular Investments

Premier America Credit Union

Prosperity Bank

Santander Investments

Space Coast CU

South State Bank

Synovus Securities

United Federal Credit Union

VyStar Investment Services

Webster Bank

WSECU Investment Management