The Progress Center Can Decrease Your Firm's Expenses The Progress Center can impact a Firm's bottom line by decreasing corporate expenses in two areas:    retention of productive advisors, and    providing cost-effective, perpetuating professional development programs.    1.   Retention of Productive Advisors As a financial services Firm, you are in the people business … people servicing and soliciting other people. Just as advisors are a Firm's most valuable asset-gathering component, they can also be the most costly, if lost or ineffective. It is no surprise that when an advisor leaves a Firm (whether of his own volition or not), some clients also leave with him. With this departure, managed assets and subsequent Firm revenues are lost. This loss is probably the most obvious. But what about the "soft-dollar" costs of training and cultivating a replacement? Capital expenditures must be made, but more valuable than monetary costs is management's time to locate, groom, train and retain a replacement advisor to the Firm's culture. Even after the initial training of a new advisor, the Firm's costs of attracting new clients is increased 3 to 10 times when compared to retaining existing clients. It is no wonder that The Progress Center strongly recommends that Firms concentrate on retaining and advancing its productive advisors. "But," you say, "we're always training new advisors, not necessarily as replacements, but as new additions to our Firm. So, training a replacement doesn't really cost any more." Unfortunately, it takes at least two years before a newly trained Advisor becomes profitable to the Firm. Personnel turnover may be viewed by existing clients as being disruptive and may create some discomfort as to why the "other advisor" left the Firm, whereas addition of personnel signifies the progressive growth of a strong, unified Firm. Remember, the Firm is what the client perceives it to be in his eyes, and this view is continually reinforced by advisors and support staff. The Progress Center emphatically advocates growth of a Firm's advisor base but only as it propagates productive growth. 2.   Cost-Effective, Perpetuating Professional Development Programs Unlike most professional development companies that offer "canned" programs to advisors, The Progress Center fosters programs that are especially suited to your Firm's culture. In these days of high market competition, The Progress Center can empower your most important marketing arm - your advisors - to distinguish themselves and the Firm from the rest of the "pack."    Previous Page   Contact Us   Next Page   To discover how The Progress Center can help your Firm, your Advisors and your Clients, simply complete our Request for Information form or e-mail us at Info@TheProgressCenter.com. (c) 2003 The Progress Center. If you should have any problems with this page, please e-mail us at seller@sellerdoor.com. Your satisfaction is of utmost importance to us!