Cerulli Report: Coaching and Consulting for Advisors
Until recently, financial advisors were reluctant to admit they worked with coaches or consultants, fearing the stigma of weakness or underperformance. Today, however, the image of coaching and consulting has changed, driven by advisor word of mouth, and these services are becoming widely accepted by advisors in all channels.
This report, based on a recent survey, reveals that almost half of advisors have worked with a coach or consultant—and the overwhelming majority has realized positive benefits from the experience. Packed with detailed data and real-world examples, it’s a must-read for broker-dealer firms and advisors who want to improve their practices.
Key Insights:
- Coaches or consultants cannot bail out a failing advisor, but they will help motivated advisors improve their practices.
- While working with a coach or consultant improves profitability, the key benefit derived is greater operational efficiency.
- Broker/dealer firms offering coaching and consulting services find that the payoff more than justifies the cost.
