How to Hand Off Clients to Junior Advisors

Wealth managers often run into problems when they approach 150 clients. Why is that? It can be explained by something called Dunbar’s number.

British anthropologist Robin Dunbar discovered the “magic number” of 150 social attachments any person can maintain. Dunbar became convinced that there was a ratio between brain sizes and group sizes through his studies of non-human primates.

His research bore out that humans prune their relationships to never count much beyond 150. 

So, if you’re going to maintain relationships with your close friends and family, it will become difficult for your practice to extend beyond 150 clients without help.

In the early days, this can look like an executive assistant who manages scheduling, documents, and other basic communications.

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