We are not bringing these clients on hoping they are going to graduate into something else. If they do, great."
Scott Hanson, principal, Hanson McClain Advisors
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Summary: Financial advisers sometimes ask how they can serve clients with relatively little to invest and still make a profit. Scott Hanson has an answer. His wealth-management firm in Sacramento, Calif., decided to expand "downstream" in 2009, when it lowered its minimum account size to $50,000 from $250,000. In the years since, it has added around $100 million in assets under management from almost 800 clients who wouldn't have met the previous minimum.
We are not bringing these clients on hoping they are going to graduate into something else. If they do, great."
Scott Hanson, principal, Hanson McClain Advisors
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