Most RIA firms know they should be tracking their client acquisition cost. Far fewer have built a system that actually tells them which channels are working and which are not. Gregory CEO Joe Anthony has a clear perspective on what it takes to change that.
In a Financial Planning article, Anthony explains that the path to a meaningful client acquisition strategy starts with two commitments: tracking where every new client comes from and counting the full cost of advisor time. "A great marketing plan isn't a low customer acquisition cost. It's a good return on the cost," he told Financial Planning. The article also highlights that referrals and centers-of-influence relationships remain among the lowest-cost and highest-converting acquisition channels available to advisors.
The stakes are rising. Kitces Research data cited in the article shows that average organic RIA growth has slipped from 9% to 3% since 2017. As that gap narrows, firms are increasingly at what researchers called a crossroads: the cost of winning new clients through marketing can eventually surpass the cost of simply acquiring other firms through M&A. That reality makes channel-level tracking not just a useful exercise, but a strategic imperative for any firm serious about sustainable growth.