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Practice Management > Building Your Business

Fidelity Launches Organic Growth Hub for Advisors

By John Manganaro

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Fidelity Investments on Monday announced the launch of a centralized advisor growth hub created to help firms sharpen their approach to acquiring business and expand existing client relationships.

The new hub provides strategic insights via how-to guides and on-demand courses to propel advisors through each stage of growth, according to the announcement. The platform also seeks to help advisors improve lead generation and introduce client segmentation strategies that can help firms improve profitability.

“Providing these on-demand resources allows advisors to take action in a way that best meets their unique goals, fueling their business’ long-term success regardless of market uncertainty,” said Rohit Mahna, head of client growth at Fidelity Institutional Wealth Management Services.

Mahna said focusing on these “controllable practices” can boost success regardless of external factors, noting that the hub launch coincides with the publication of a white paper called “Gaining Traction with GrowthTech.” The analysis outlines opportunities for firms to drive scale, improve lead acquisition and future-proof their business.

Fidelity’s announcement includes proprietary survey data showing that 42% of firms report marketing and business development growth as a top priority, but there is a wide dispersion across firms on how and if they achieve this goal. Some acknowledge that they are failing to grow assets outside of market appreciation, while others are seeing significant growth due to strong organic growth strategies, according to Fidelity.

Other findings show that, even as they say organic growth is a top priority, more than 50% of advisors see client acquisition as a big challenge. Firms also commonly note that existing clients remain a major source of generating leads, accounting for 56% of qualified leads in the past 12 months. Further, only 46% of advisors believe that their firm has fairly strong or advanced business development capabilities to support the client lifecycle.

Gwendaline Mazzara, vice president, senior business consultant at Fidelity Institutional, said the new hub can be a “game changer for organic growth,” as it helps advisors become less reliant on client referrals and to create more personalized interactions.

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John Manganaro

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