Advisors are constantly chasing efficiency. Between client onboarding, new account paperwork, compliance and planning updates, it’s easy to lose sight of what actually moves the needle. Growth isn’t just about adding clients, it’s about understanding the story behind your numbers.
Tracking the right data can uncover where your firm’s process shines and where it slows down. From lead conversions to follow-up timing, metrics show you how well your client experience really performs. The right insights can help you build a more responsive, scalable business that keeps both your clients and your team happy.
According to Molly Pierce, CEO of Track That Advisor, five key metrics are crucial to driving growth.
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1. Stick Rate
Stick rate measures how many of your first appointments actually show up compared to how many were scheduled. The benchmark is around 70%.
Referrals usually perform higher but this number gives you a baseline for the strength of your lead sources. If you can only start tracking one metric, start here. Stick rate tells you if your outreach and follow ups are doing their job.
2. Close Rate
Close rate shows how many kept appointments actually become clients. To find it, divide the number of first meetings by the number of new clients signed within that same time period.
A healthy close rate for most advisors is about 30%. If yours is lower, you may need to tighten your prospect qualification process or refine your client presentation.
3. Average Case Size
Average case size shows how much new business each client brings to your firm. Divide your total new assets by the number of clients you closed during a given period.
This metric helps you understand if your marketing and referral efforts are attracting your ideal clients. Comparing quarter-over-quarter results can reveal whether your growth strategy is moving in the right direction.
4. Cost Per Client
Cost per client reveals how much it costs to convert one lead into a paying client. Take your total marketing spend and divide it by the number of new clients you gained in that same period.
The current industry average is around $6,000 per client, but that number depends heavily on your acquisition channels. Referrals cost the least, while media campaigns are typically more expensive.
Tracking this number helps you identify which channels produce the best return on investment and which ones are burning through your budget.
5. Pending Leads
Pending leads measure how long prospects remain in your pipeline before becoming clients or losing interest. The benchmark is 10 to 15 days between each appointment.
Long gaps can signal that your process is stretched too thin or that your follow up system is not strong enough. Consistent timing keeps momentum high and prevents deals from slipping away. Remember time often kills deals.
Why These Metrics Matter
Numbers do not just show where you stand; they help you plan where to go next. When you track these key indicators regularly, you will uncover patterns that drive better forecasting, smarter hiring and more efficient client service.
Advisors who track data effectively are also better positioned to scale. By using insights from stick rates, conversion data and client engagement metrics, they can spot bottlenecks early and focus on high value work that drives revenue.
Taking the Next Step
PreciseFP makes it easier to turn these metrics into action. With automated data gathering, real time client engagement and more than 30 powerful integrations, you can collect information once and reuse it across every system. Advisors use PreciseFP for risk tolerance questionnaires, onboarding, client surveys, document delivery, eSignatures and more, all while keeping their data clean and consistent.
Start measuring what matters most and give your firm the tools to grow faster, stay compliant and offer an elite client experience.
Try PreciseFP free for 14 days and see how effortless great data can be.
