The document summarizes findings from a study on what defines success for financial advisors. Key findings include: - Client satisfaction, reaching client goals, and client retention were the top factors advisors used to define professional success, more so than metrics like assets or revenue. - Advisors saw their mindset and client relationships as the most important drivers of success, but reported gaps in their performance in these areas. - Larger advisors placed more importance on client and team engagement than smaller advisors. Mentors and education programs were also cited as significantly impacting advisors' success.

1. Foundations of Success
Success through the eyes of advisors
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2. The Participants
• A broad range of advisors
participated in the study. Results
are broken down based on AUM to
highlight key differences based on
the size of the business.
• While the results demonstrate that
assets and revenue are not the
only way to define success, we are
seeking to understand the common
characteristics among the largest
businesses.
• 82% of respondents were male
and 18% were female.
• 65% of respondents were 50
years of age or over
58%
29%
14%
0%
20%
40%
60%
80%
<$100m $100 - $249m $250m+
Percentageofrespondents
Assets Under Administration
Source: Julie Littlechild, Foundations of Success, 2014
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3. Personal Success: Who’s Got It?
47% 44% 46%
44%
55%
49%
0%
20%
40%
60%
80%
100%
<$100m $100 - $249m $250m+
Somewhat Successful Very Successful
Q: Today, how would you describe your level of personal success?
A higher percentage of advisors (63%) consider personal success “critical” than consider
professional success critical (40%) Fewer advisors rate their personal success as highly as their
professional success.
3
Source: Julie Littlechild, Foundations of Success, 2014

4. Professional Success: Who’s Got It?
64%
42%
32%
30%
58% 68%
0%
20%
40%
60%
80%
100%
<$100m $100 - $249m $250m+
Somewhat Successful Very Successful
Q: Today, how would you describe your level of professional success ?
100% of advisors with $100m or more in AUM consider themselves somewhat or very successful,
however at $250m+ they are more likely to consider themselves very successful. Clearly AUM
has a significant impact on our definition of success (although it was not rated as the most
important aspect of success. 40% of advisors say professional success is “critical”.
4
Source: Julie Littlechild, Foundations of Success, 2014

5. I Know When I’ve Made It When…..
<$100m $100m-
$249m
$250m+
Client satisfaction/engagement 89% 92% 95%
Extent to which clients reach their financial goals 79% 85% 87%
Client retention 75% 83% 86%
How much I enjoy my work 88% 92% 85%
Team satisfaction/engagement 46% 77% 83%
Business growth (e.g. assets or revenue) 60% 69% 67%
Personal income 69% 69% 52%
Business revenue 51% 58% 51%
Assets under management 52% 52% 44%
Client investment performance 41% 46% 41%
Time off 56% 53% 37%
Community or industry profile 28% 31% 35%
Number of client relationships 20% 16% 16%
Size of team 6% 8% 7%
When asked how they define professional success, advisors selected a number of factors, dominated by
the success of their clients and their enjoyment of their own work.
5
Source: Julie Littlechild, Foundations of Success, 2014Q: Which, if any, of the following define professional success for you?

6. The “Success Experiment
• Mindset: Your personal outlook or characteristics (e.g. optimism,
determination, drive)
• Physical Health: The quality of your health, energy level etc.
• Planning/Goal Setting: The extent to which you set clear goals and plan
for your business.
• Client Engagement. The extent to which you build engaged/satisfied
client relationships
• Team Engagement. The extent to which build a team that actively
engaged in driving the business forward
• Business Efficiency. The extent to which you run an efficient business,
including workflow, automation and effective use of technology.
• Personal Efficiency. The extent to which you are personally productive,
including time management, effective scheduling etc.
The list below was developed as a starting point in understanding how advisors think about and prioritize the
drivers of success. Each participant was asked about the relative importance of each factor in driving
success and then to rate his or her performance on each.
6

7. Perceived Drivers of Success
.
87%
76%
54% 52% 49% 47% 47% 45%45% 44%
28% 25%
16% 17%
12%
18%
0%
20%
40%
60%
80%
100%
Percentageratinga5outof5
Critical To Success Very Successful Today
Q: Consider the list of items below, each of which is a potential contributor to, or driver of, overall professional success. Please rank
each based on its importance in driving your success. Q: Now I’d like to ask about your perceived level of success in each of these
areas. Please rate each potential driver of success from ‘not at all successful’ to ‘very successful’
The graph below shows the percentage of advisors rating the importance of each attribute a 5 out of 5 and
their performance at the same level. Using this high standard (we don’t often give ourselves top marks on
anything) two things are clear. Advisors consider mindset and client relationships the most important drivers
of success and there are significant gaps across the board
7
Source: Julie Littlechild, Foundations of Success, 2014

8. Advisor Segments
• Women rate certain things as more important in driving success than
their male counterparts:
• Advisors who run larger businesses tend to rate the importance of
client and team engagement as higher than advisors with smaller
businesses.
8
Source: Julie Littlechild, Foundations of Success, 2014
Percentage rating very important
Men Women
Physical health 41% 63%
Planning/Goal setting 42% 55%
Personal efficiency 45% 63%

9. The Differentiators
1. Mindset (perseverance)
2. Client relationships
3. Team
4. Hard work
5. Focus on best interests of client
6. Client service
7. Education/learning
8. Offer
9. Goal setting
10. Coaching/mentoring
Q: Is there one thing you have done that you feel strongly contributed to your professional success? If
yes, please tell us what that was. Based on comments from advisors with $100+ in AUM.
Advisors were asked to describe the one thing that most contributed to success. The responses can be
categorized as follows. In future analysis we’ll be breaking these down to get more granular on exactly what
they mean. The key, based on our reading of the data, is that while the concepts sound very ‘high level’
execution may be the fundamental difference for top producing advisors.
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Source: Julie Littlechild, Foundations of Success, 2014

10. You’re Not Alone
40%
33%
29% 28%
25%
18%
0%
20%
40%
60%
Mentor Ed. Program Other Professional Coach None of above Conference
Q: Is there someone or something that you feel has had a significant impact on your
success? Please select any categories that apply?
In both their responses to his question and in the open-ended question regarding the things that had
driven their success, support from others is a key theme. In particular, mentors played an important role
for many successful advisors.
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Source: Julie Littlechild, Foundations of Success, 2014

11. Let’s Connect
You can stay up to date on the Success Project and other
research by registering your email at
www.julielittlechild.com
or following on Twitter @jlittlechild