Closing the Back Door: Driving Growth by Stemming Advisor Attrition



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 bolt 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.

Additional information

Number of Advisors

Fewer than 25 Advisors, 25-100 Advisors, More than 100 Advisors