5min chapter

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Who To Hire First As Your Advisory Firm Grows (And Why Do You Even Want To?): Kitces & Carl Ep 111

Kitces and Carl - Real Talk for Real Financial Advisors

CHAPTER

How to Scale Your Business and Grow Larger

The average advisors hours worked every week was up 15 to 20%. If they got to five team members, their hours worked were up more than 30%. That is amazing. Almost all of the staff leverage that you get comes when you go from a one person team to a three person team. There's almost no increase in productivity from a four person team. And then it starts to go down when you get five plus. Talk like actual service team of like how many different people interact with you and your clients. The three person service team seems to be pretty robust. Your hours do go up a bit, but your income goes up a lot.

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