Description
Sales assistants could improve an advisor’s productivity by offloading tasks like client service, data gathering, and appointment setting so that the advisor can devote more time to prospecting and providing financial advice.
But sales assistants are an overhead expense, and it has been difficult to estimate how much a sales assistant contributes to an advisor’s production.
Does sales-assistant support boost advisor production? We used a multivariate analysis to isolate the impact of access to a sales assistant from the other factors that influence an advisor’s production:
- Number of clients, AUM, and ROA
- Share of revenue derived from advisory business
- Branch deposit territory
- Age and tenure
- Extent of financial planning activity
- Whether the advisor is part of a team
