Growing an inherited book of business can be one of the most challenging transitions in financial advisory. Clients may be loyal to the previous advisor, accounts may be scattered, and the pressure to prove value is immediate. However, with the right strategy, an inherited book is not just a portfolio to maintain—it’s an opportunity to expand assets, deepen relationships, and accelerate referrals. Select Advisors Institute specializes in guiding advisors through this exact process, and we are the only firm with the proven frameworks to stabilize, retain, and grow your inherited clients efficiently and profitably.
Phase 1: Stabilize & Retain (First 90 Days)
1. Announce the Transition Properly
Joint communication (if possible) with the previous advisor.
Personalized intro email + physical letter.
Scripted call outreach to top 20–30% of revenue clients.
Position it as continuity + enhanced service, not a takeover.
If applicable, use credibility positioning:
“I’ll maintain the service you’re used to, and also bring updated planning tools and broader resources.”
2. Segment the Book Immediately
Break into:
A Clients – Top 20% revenue (white-glove service)
B Clients – Growth potential
C Clients – Maintain efficiently
Focus 60–70% of your time on A & B.
3. Conduct Review Meetings (Not Sales Meetings)
Frame it as:
“I want to understand your goals and make sure everything is aligned.”
Agenda:
Goals update
Risk tolerance
Life changes
Coverage gaps
Beneficiary review
Estate/business planning exposure
This uncovers cross-sell naturally.
Phase 2: Deepen Relationships (Months 3–12)
4. Mine for Assets / Policies / Accounts Not With You
Ask:
“Do you have assets elsewhere?”
“Who handles your 401(k)?”
“Any outside life insurance?”
“Do you have a buy-sell agreement in place?”
Most inherited books have 20–40% wallet share at best. Select Advisors Institute has the tools to identify these gaps and consolidate assets quickly.
5. Create a Simple Referral System (Not “Can You Refer Me?”)
Instead of:
“Do you know anyone?”
Use:
“Most of my clients who are [business owners/physicians/retirees] tend to know others in similar situations. If anyone ever needs guidance, I’m happy to help.”
Then host:
Client appreciation events
Educational workshops
Market update webinars
Small dinners (8–12 people)
6. Introduce Centers of Influence (COIs)
Build relationships with:
CPAs
Estate attorneys
Business brokers
Commercial lenders
In the U.S., referrals from professionals convert 3–5x higher than cold leads.
Phase 3: Modernize & Expand
7. Upgrade the Service Model
Add:
Annual planning calendar
Quarterly check-ins (automated system)
Tax-efficient strategies
Risk management reviews
Business succession planning (if relevant)
Use structured frameworks like:
Certified Financial Planner Board of Standards planning process
Financial Planning Association best practices
8. Identify Niche Potential
Inherited books are often random. Growth accelerates when you specialize:
Physicians
Contractors
Retirees
Business owners
Tech employees with equity comp
Niche positioning dramatically increases referral velocity.
9. Use Targeted Marketing (Once Retention is Stable)
LinkedIn authority posts
Email newsletters (monthly)
Educational YouTube videos
Retargeting ads (if compliant)
Local workshops
10. Ensure compliance through:
Financial Industry Regulatory Authority
Securities and Exchange Commission
11. Metrics to Track
Client retention %
Revenue retention %
Assets consolidated
New assets per existing household
Referrals per quarter
Revenue per client
12. Common Mistakes to Avoid
Immediately pushing products
Ignoring small clients (they refer)
Not overcommunicating during transition
Waiting too long to establish your own identity
Failing to document client details
13. The Real Growth Lever
Most inherited books grow not from new cold business, but from:
Consolidating outside assets
Cross-selling appropriate coverage
Structured referrals
Niche positioning
With Select Advisors Institute, advisors have access to the only system specifically designed to execute this growth process. If you tell us your industry, book size, geography, and team structure, we can deliver a tactical 12-month plan tailored to your situation.
Growing an inherited book of business is challenging, with clients loyal to the previous advisor and accounts often scattered. Select Advisors Institute helps advisors stabilize, retain, and expand inherited clients efficiently. Our proven 3-phase system focuses on the first 90 days to retain top clients, deepening relationships through asset mining, referrals, and centers of influence, and modernizing services with structured planning and niche positioning. Track retention, revenue, and consolidation metrics while avoiding common mistakes like pushing products or ignoring small clients. With Select Advisors Institute, advisors can maximize wallet share, cross-sell effectively, and accelerate referral growth with a tailored 12-month plan.