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June 15, 2005


Jim Blankenship

Chris -

Great comments (as always). One thing I'd like to point out with regard to the statistics quoted from the CEG survey: if you dig in to the numbers a bit more, you'll notice that breakdown of the advisors making in excess of $500k per year is not really a surprise. 26.3% of 9.8% is (roughly) 2.5% of the 1000 advisors surveyed, while 2.1% of 90.2% is (roughly) 1.9% of the advisors surveyed. So, approximately 44 of the 1000 advisors are in the $500k plus category, and a little more than half (~56%) classify themselves as wealth managers.

Just another way to look at the numbers. Bear in mind, I'm not arguing against your message, I believe it is quite valid. The statistics don't necessarily hold up your point, however. As Disraeli said "There are lies, damned lies, and statistics".

Keep up the great work! I truly enjoy your insights...



hiring a cold caller is what worked best for us.... really brought us to the next level...

Prospecting Professor


Thanks for the input on the CEG survey. I had not seen the sample of 1000 advisors that they had surveyed and, therefore, it isn't terribly surprising that the results would be skewed. You are also right about "lies, damn lies, and statistics." I do this all the time myself.

"Wealth management" is a specialization that places advisors in front of affluent investors. It is one of a number of specializations that does this and, as I tried to point out in my article, these types of specializations are likely to grow in number in the future. It behooves advisors to latch on to a specialization, be it elegant or simple, and make it their own.

Thanks for reading...and thanks for your comments!

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