How to grow assets under management?

Growing Assets Under Management (AUM) is the primary goal for most financial advisors and firms. As someone who's built a successful practice, here's what works:

Client service and retention come first - happy clients refer and maintain assets. Provide exceptional service, regular communication, and transparent performance reporting. Existing clients are your best source of growth through additional assets and referrals.

Develop a clear niche or specialization that differentiates you. Whether it's a specific client type (doctors, retirees) or strategy (ESG, options), specialization makes marketing more effective.

Leverage centers of influence - build relationships with accountants, attorneys, and other professionals who can refer clients. Educational seminars and content marketing establish expertise.

CFP Board practice management has professional resources. Sustainable AUM growth comes from delivering real value, not just salesmanship!

As the director of a growing RIA, here's our strategy for AUM growth:

We focus on three pillars: organic growth from existing clients, strategic acquisitions of smaller practices, and new client acquisition through targeted marketing. The key metric we watch is net new assets rather than just total AUM.

For existing clients, we conduct regular "financial check-ups" that often uncover additional assets we can manage. We've systematized our referral process - we don't just hope clients refer, we have a process for asking and making it easy.

On the acquisition side, we look for advisors nearing retirement who want an exit strategy. This provides immediate AUM growth with established client relationships.

The most important lesson: AUM follows performance and service. You can't market your way out of poor performance or service. Focus on delivering exceptional value and the growth follows.