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Can You Build a Higher Revenue Focus 50 Firm?

I regularly receive thoughtful and engaging questions from subscribers. Today’s question is from an advisor who lives in a high-cost West Coast city.

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Question:

I live in a higher cost area. I’m attracted to the idea of the Focus 50, but I’m concerned the numbers don’t work for me and my family’s financial needs. Is it possible to build a higher revenue focus 50 firm? - T.D.

Most financial advisors target a specific revenue number as they build their firm. In my experience, this leads to the Triple Whammy. As you add clients in pursuit of The Number, you say ‘yes’ to situations where you may not be the best advisor or the client may not be the right fit. As a result, many firms end up with too much work, too many clients, and too little pay per hour of work.

Focus 50 advisors target a more critical variable: the number of clients.