In conclusion, if you decide to put a minimum account size in place, don’t do so arbitrarily. Spend adequate time choosing a number that is right for you and figuring out how to effectively communicate it to clients and prospects. If you lay the groundwork properly, instituting a minimum account size may prove to be one of the best business decisions you’ve ever made!
Robert Sofia is COO of Platinum Advisor Strategies, a marketing firm that helps independent financial advisors attract and retain high-net-worth clients. www.platinumstrategies.com @robertsofia @platinumadvisor