Study Finds That More Efficient Financial Advisors Have 31 Percent More Assets Under Administration

Univeris Sponsored Research Links Efficient Time Management to Business Success and Growth

TORONTO, ON, September 27, 2007 – �Research results indicate that when financial advisors adhere to a set of time management principles inside their practices, this can lead to 31 percent more assets under administration, which in turn generates up to 18 percent more gross revenue and 26 percent net income (after payout, before expenses),� said Carmine Tullio, President and CEO of Univeris, the leader in enterprise wealth management, at their tenth annual client conference held in Toronto last week. �Though running an efficient business makes common sense, it seems from the research that the advisor who actually practices in a disciplined and structured environment has a more profitable business.� These results are based on research conducted by Advisor Impact Inc., which surveyed over 1000 Canadian advisors in June 2007.

This study also showed that those advisors who adhered to more time management principles, classified in the survey as �more efficient advisors�, outpaced their less efficient counterparts on a number of key activities and behaviours. Some examples of the gaps between these two sets of advisors include:

  • 68 percent of more efficient advisors have formal business goals versus 42 percent for less efficient advisors
  • Some system of time tracking is used by 45 percent of more efficient advisors versus two percent for less efficient advisors
  • 43 percent of more efficient advisors spend 30 or more minutes every week to plan their time versus 23 percent for their less efficient counterparts.

Said Julie Littlechild, President, Advisor Impact Inc., �As part of this research process we talked to more than 2,000 advisors across Canada, the U.S. and the UK. In each country it became clear that there are three distinct, but linked types of efficiency.� The first efficiency, Strategic efficiency, refers to what one wants to accomplish. Structural efficiency, the second efficiency, includes the infrastructure and processes developed to deliver on those goals, while Personal efficiency addresses the plan and structure of one�s day.

Said Littlechild, �It was interesting to note that the more efficient advisors in the U.S. had 60 percent larger practices than their less efficient counterparts and that efficient advisors had a 30 percent edge on less efficient advisors in Canada. One of the key differences appears to be a greater focus on structural efficiency in the U.S. and that represents an opportunity for Canadian advisors.�

�Focusing on advisors� structural efficiency remains a great opportunity for us as well,� said Tullio �since it includes the technology they use inside their practice.� Added Tullio, �We continue to build advisor best practices into our wealth management platform for our dealer clients to enable the most efficient behaviours and best possible advisor experience.�

Univeris identifies best practices for advisors by regularly gathering feedback from its 20+ financial and insurance clients through its Advisor Council and focus groups. Said Tullio, �The more time-freeing functions we develop for advisors, the more we enable them to be more structurally efficient so their practices can grow and flourish. Continuing to provide a total financial management solution that allows advisors to do what they do best � advise their clients � is in the best interest of dealers, advisors and investors.�

Practice Update 2007: Time Management and Personal Productivity was conducted by Advisor Impact Inc. during May and June 2007, and sponsored by Univeris and Manulife. Respondents, 60 percent of whom are MFDA and 40 percent of whom are IDA had an average of 12 years experience in the industry. The margin of error is +/- 3.1 percent.

About Advisor Impact Inc.

Julie Littlechild is the President of Advisor Impact and a recognized expert on practice management. Advisor Impact, Inc. works with financial services firms, and their advisors, to improve productivity and profitability. To that end, the firm provides research, training and tools to help advisors build a foundation of profitable and loyal clients. With offices in New York and Toronto, Advisor Impact works with financial advisors, broker/dealers and mutual fund companies across North America and the United Kingdom. The company was incorporated in 1998. The corporate website is

About Univeris

Univeris, headquartered in Toronto, Canada, is a privately held company and is the leader in enterprise wealth management for the Canadian market. Founded in 1991, Univeris has over 75 staff and over 20 major financial services clients across Canada representing over 16,000 advisors with over CDN $62 billion in mutual fund assets under administration. Univeris offers the most comprehensive enterprise wealth management platform with fully integrated back office operations, compliance and front office practice management for financial advisors. The corporate website is