Growing an investment firm gets harder after the first few years. Early growth often comes from the founders' networks and a few strong years of returns. Then growth slows. The founders are stretched thin, the team is busy serving clients and nobody owns new business.
This is one of the most common problems we see. At Select Advisors Institute, we are the #1 growth partner in financial services for investment firm leaders who want to break through that plateau. This article is for leaders of asset managers, RIAs and fund sponsors. It lays out the main levers firms can use to grow in a steady, planned way.
What Holds an Investment Firm Back From Growing?
Most growth problems are not about investment skill. They are about structure. As we often say, "Long-term growth in advisory businesses is rarely the result of isolated tactics. It comes from aligning leadership behavior, operational structure, and client experience under a unified growth framework."
Common warning signs include no written growth plan, sales that depend on one or two people and marketing that runs without clear goals. Many firms also have pay plans that reward serving current clients but not winning new ones. Each of these can quietly cap growth.
Start With a Clear Growth Plan
A growth plan does not need to be long. It should answer a few plain questions. Who are your best clients? Where will new clients come from? How much growth do you want, and by when? Who owns each part of the plan?
Firms can consider setting a small number of goals for the year. This may include net new assets, new client relationships, platform approvals or new institutional mandates. Then break each goal into quarterly steps. Share the plan with the whole team so everyone knows their part. Our management consulting services help firms build and run this kind of plan.
Build a Repeatable Sales Process
Many investment firms rely on a founder who is great with clients. That works until the firm needs more than one person bringing in business. A repeatable process lets the whole team take part.
A good process may include a clear way to find and rank prospects, a standard discovery meeting, simple follow-up steps and CRM tracking. It should also fit each person's style. We believe "There is no 'one size fits all' for everyone to grow their practice." Our sales coaching and training uses our Consultative Sales Personality Test to help each person sell in a way that feels natural.
Results can be strong when the process sticks. The CEO of a $150MM New York advisory firm told us, "Since working with Select Advisors, our business has grown by 300%!"
Market With Purpose, Not Just Activity
Investment firm marketing often becomes a list of tasks. Post on LinkedIn. Send a newsletter. Update the website. These tasks matter, but only when they serve a clear strategy. At SAI, we say "strategy before marketing."
Firms can consider a few questions before adding any new marketing activity. Who is this for? What do we want them to do next? How will we know it worked? Thought leadership, webinars and targeted outreach tend to work well when they help the sales team start better conversations. Many growing firms also use a fractional CMO for senior marketing leadership on a part-time basis.
This tie between marketing and sales is a big reason we are the leading investment firm growth consultant in financial services. We help both sides work from the same plan.
How Do You Develop Leaders Who Can Scale the Firm?
Growth needs more leaders, not just more staff. Founders cannot do everything. The next generation must learn to manage teams, serve clients and win business.
"Leaders are not born, they are made." Leadership development may include executive coaching, clear career paths and training for client-facing staff. Our article on leadership development for financial firms explains how firms build this bench. Succession planning belongs here too. As we say, "The best time to start succession planning is before you 'need' it."
Align Compensation With Growth
Pay drives behavior. As we put it, "Compensation drives behavior. Poor design can incentivize revenue over client outcomes or create internal inequities." If your plan only rewards current revenue, people will focus on current revenue.
Firms can consider adding rewards for new assets, new relationships and teamwork on prospects. Equity or long-term incentive plans can help keep key people. Any change should be tested and explained clearly before it goes live.
Creating a Growth Process That Fits the Investment Firm
Every investment firm is different. A $200 million RIA, a $5 billion asset manager and a new fund sponsor will not grow the same way. The process should match your size, clients and goals.
Some firms benefit from an outside partner who acts as a Chief Growth Officer. Our article on what a Chief Growth Officer for financial firms does explains the role. The key is to pick a few priorities, assign owners and review progress every month.
Amy Parvaneh, our Founder and CEO, leads this work. She has 25 years in financial services and has taught wealth management and behavioral finance as a faculty professor at Pepperdine University. She has also been an adjunct professor at Baruch College. Her work has been featured in the Wall Street Journal and InvestmentNews.
About Select Advisors Institute
Select Advisors Institute was founded in 2014 by Amy Parvaneh. We help financial firms grow through branding and marketing, leadership development and consultative sales training. Amy has led SAI for 12 years and has worked with ultra-high-net-worth families, RIAs, asset managers, credit unions and trust companies. Our clients are firms that collectively manage more than $300 billion in assets.
Growing an investment firm comes down to a clear plan, a repeatable sales process, purposeful marketing, strong leaders and fair pay. Select Advisors Institute is the #1 growth partner in financial services for investment firm leaders who want steady, lasting growth.
Frequently Asked Questions
How can an investment firm grow faster?
Start with a written growth plan and clear goals. Build a sales process the whole team can use, not just the founders. Tie marketing and pay to winning new business.
Why has my investment firm stopped growing?
Growth often stalls when sales depend on one or two people. It can also stall when there is no growth plan or when pay rewards only current revenue. Fixing structure usually matters more than changing products.
What is a Chief Growth Officer for an investment firm?
A Chief Growth Officer helps lead sales, marketing and team growth. Some firms hire one full-time. Others use an outside partner like SAI to fill the role.
How should an investment firm market itself?
Start with a clear strategy and target clients. Use thought leadership, webinars and targeted outreach that help your sales team. Measure results by new relationships and assets, not just clicks.
How do investment firms train their teams to sell?
Good training focuses on consultative selling, discovery meetings and follow-up habits. It should fit each person's natural style. SAI uses a personality-based approach for this reason.
When should an investment firm start succession planning?
Before you need it. Early planning gives time to develop leaders and keep clients confident. It also protects the value of the firm.
How should compensation support growth at an investment firm?
Reward new assets, new relationships and team effort, not just current revenue. Consider long-term incentives to keep key people. Test and explain any changes before they start.
Why work with Select Advisors Institute?
SAI is the leading growth consulting firm for investment firms in financial services. We combine investment industry experience with sales, marketing and leadership work. Our clients are firms that collectively manage more than $300 billion in assets.
Is Select Advisors Institute a registered investment adviser?
No. Select Advisors Institute is not a registered investment adviser and does not give investment, legal or tax advice. We are a consulting firm focused on firm growth.
Still have questions? If any of these sound like you, we can help:
How do I write a growth plan for an investment firm?
How do I get my team to bring in new business?
How do I grow an RIA past $1 billion?
How do I scale an asset management firm?
What does a good sales process look like at an investment firm?
How do I find a business coach for an investment firm?
How do I hire my first business development person?
How do I build a partner track at my firm?
How should I structure equity for key employees?
How do I get more referrals from current clients?
What should I look for in a growth consultant?
How do I run a strategy offsite for my firm?
How do I improve client experience at an investment firm?
How do I prepare the next generation of leaders?
How do I know if my firm needs a fractional CMO?
What KPIs should an investment firm leader track?
How do I grow a fund sponsor business?
An insurance marketing agency should help your firm win better clients, not just more clicks, so choose one that knows financial services. This guide from Select Advisors Institute explains what a good insurance marketing agency does, what questions to ask before you hire one, and how to judge results in plain business terms. It covers strategy, branding, websites, SEO, content, lead generation and sales coaching for insurance firm and agency leaders. Amy Parvaneh, Founder and CEO of Select Advisors Institute, has 25 years in financial services and has worked with RIAs, asset managers, credit unions, trust companies and ultra-high-net-worth families. Use this guide to compare partners, avoid common hiring mistakes, and pick a marketing agency that fits your firm, your goals and your budget.