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A recent LIMRA/McKinsey study identified four strategies that increase advisor productivity by more than 30 percent.

The study found that the most productive advisors use one or more of these four strategies:

1. Teaming (regularly partnering with other advisors for specialized needs): The percentage of advisors teaming with others has increased eight percentage points since 2008. Today, 1 in 5 advisors team with at least one other advisor and share more than 20 percent of their revenue.
2. Client Specialization (targeting specific client segments): Forty-three percent of advisors specialized in a client segment, typically by affluence or occupation.
3. Retirement Planning for Pre-Retirees (Creating formal retirement plans for 30 percent additional clients): While most advisors have not provided their clients with formal retirement plans, the study found those who do are 15 percent more productive.
4. Knowledge of Life Events (Increasing awareness from 5 to 8 life events per client): The study found that knowledge of life events (getting married, buying a home, changing a job) correlates to higher productivity. 

Member companies can learn more about the findings of this survey by reading Highlights from the 2012 LIMRA-McKinsey Experienced Financial Advisor Study (2012).

Non-members/press may contact LIMRA Public Relations for more information.