Taking Over an Advisors Book: 101

As a financial advisor, your clients are your main priority. Your clients require your undivided attention. To give them what they need, you need to ensure that you have your systems and processes in place.


When taking over another advisor’s investor book, you need to be able to consolidate large amounts of data quickly and effectively. Specifically total asset amounts in each account that give you an indication of the total fees you can earn as well as any upselling opportunities. We recommend that you invest in high-quality software that can help you make data-driven decisions.


  1. Research, research, and more research


Buying an investor's book is a process that needs to be respected. The seller is probably retiring from the industry and their clients have been with them for years or decades. As the buyer, you have the responsibility to research the portfolio to determine that the purchase is worth the investment. We have designed software to help buyers identify potential investors' books that may be viable options for them to purchase.


2. Use technology to your advantage


When taking over another advisor’s investors book, you need to be able to consolidate large amounts of data quickly and effectively. Specifically total asset amounts in each account that give in you an indication of the total fees you can earn as well as any upselling opportunities. We recommend that you invest in high-quality software that can help you make data-driven decisions.


3. Keep it personal


Consider that there is a risk of all these acquired investors leaving within the first two years of being onboarded. Your new clients have not yet built rapport with you and are looking for professionalism and individual attention. Make sure you use all the tools at your disposal to optimise your service offering and link it to your brand. A human connection is great but when it comes time to hand over the book you'll want your clients connected to a brand rather than the advisor themselves.


Contact us for a demo of our software and discover how Seed Analytics can reduce the complexity of buying investors' books and managing your new clients.