Ep 333: Scaling A Small-Business-Owner Boutique To A $31M Retainer-Based Valuation With Jim Dew
Financial Advisor Success
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The Importance of Retention in the Economy
The firm's retention is more like 85%. So we're clearly a lot less sticky, but still pretty sticky because of what we do. With business owners, they're much more volatile than let's say you have a practice that's using retirees,. They don't have volatility of their life and of their income the way a business owner does. And if that goes on too long, often we're the ones that go to the entrepreneur and say, hey, let's press pause until we find out if you're going to make it.
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