Roof Advisory Group a "Top Performing Firm"
Sunday October 14, 2012
Written by Liz Skinner
Various excerpts from article...
Even though the S&P 500 climbed nearly 13%
during the two-year period through 2011, median assets
under management per client among advisory firms rose
just 3% to $600,840, according to the 2012 InvestmentNews/Moss
Adams Financial Performance Study of Advisory Firms.
Despite difficulties in increasing assets, firms were
successful in boosting their revenue and profits between
2009 and 2011, the survey found.
The improvements in business fundamentals are the
result of better productivity, controls on costs, and fee hikes.
Sixty-six percent of survey respondents cited
referrals from clients, or such outside professionals
as lawyers or accountants, as a top source
of new clients and revenue.
The Roof Advisory Group Inc. of Harrisburg, Pa., which the
survey has identified as one of the top-performing advisory
firms last year and in 2009, also has a formal process of
reaching out to both clients and other professionals for referrals.
Jeff Roof, founder of the firm, said that most new clients
come from referrals from attorneys.
"Last year, we saw about a 20% increase in AUM and revenue," he said.