From a cost perspective, it's typically more expensive to acquire a new client than it is to retain a current one. When you're marketing your financial advisor firm to prospects, you're essentially starting with a blank slate, and you may need to do some wooing with your marketing to capture and hold their attention.
Your firm's retention rate can have a direct impact on your overall success. An investor who becomes your client and remains your client can generate a steady stream of revenue, as well as help you grow your book of business through referrals.
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