Are Your Efforts Futile? How to Judge the Success of Your Financial Planning Business

financial planning success

Do you know how to judge the success of your financial planning practice? Here are three tips from Summit Brokerage.

Ask 100 people what it means to be successful and you are sure to have 100 different answers. Because success means something different to almost everyone, measuring it can be tricky – though it can be done. In business, measuring the success of your tactics or whether or not a new program failed or succeeded may need to be altered as time goes on. Business strategies and tactics that worked for you a few years ago may not work the same today. So, how can someone in the financial planning industry accurately gauge if his or her methodologies and strategies are working? Here are a few of our top suggestions when it comes to measuring the performance of your business:

1. Study Client Feedback

Customer satisfaction can be one of the greatest indicators in determining the current status of your business. If a client is unhappy, he or she will most likely not plan on doing business with you in the future. First, determine if your clients have multiple channels in which they are prompted to review your business programs, services and tactics. This can be done via an email survey, online review on your website or social media page, or by asking during a face-to-face meeting.

Be sure to give clients an opportunity to also voice their opinions on what services can be improved, or what other programs or services they would be interested in. One of the best ways of improving the success of your business is offering solutions to your client’s pain points, and letting them know their voice is heard.

2. Assess Financial Statements and ROI

Are you up to speed on how much money is coming in and out of your financial planning practice? Are you purchasing software and programs to increase sales or clients but have not measured your return on investment? Examining the data for these two areas can give you an even better idea as to the success of your business and its tactics. Review your income statement to understand the profits and losses of your practice, as well as the balance sheet and cash flow statement.

Also, review what programs, services, software, or marketing tools you are spending money on but not using to the fullest.

3. Measure Customer Growth

Has your customer base grown since executing new services or a new investment strategies program? Measuring client growth is a good way to determine if efforts are successful and if more growth is expected. Also, apply a way to track new customers when offering an innovative service or package, such as a program or marketing code, helping you determine if your tactics are growing your customer base.

These are just a few ways to determine the success of your financial planning practice. To learn additional tips on how to judge the effectiveness of your marketing strategies, visit Summit Brokerage Services has been voted the #1 boutique independent broker dealer in the country. Let us show you why! To experience the Summit difference, learn more about our network of independent financial advisors, and begin creating your financial planning documents, visit or call us at (800) 354-5528.


About Summit Brokerage Services, Inc.

Summit Brokerage Services is part of Cetera Financial Group. Summit Brokerage provides a broad range of securities brokerage and investment services to primarily individual investors. Summit Brokerage also sells insurance products, predominantly fixed and variable annuities and life insurance through its subsidiary, SBS Insurance Agency of Florida. Summit Brokerage also provides asset management services through its investment advisor, Summit Financial Group, Inc.


About Cetera Financial Group

Cetera Financial Group® (“Cetera”) is a leading network of independent retail broker-dealers empowering the delivery of objective financial planning advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions.  Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations.  Independent financial advisor support resources offered through Cetera include award-winning wealth management and financial planning and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.  For more information, visit

*”Cetera Financial Group” refers to the network of retail independent broker-dealers encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services.


All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy.


Content created by Summit Brokerage Services, Inc.

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