5 Key Metrics Every Advisory Team Should Track to Work Smarter

Advisory firms are busier than ever. Client expectations keep rising while operations and compliance are only getting more complex. Between onboarding new clients, preparing reviews, assigning follow ups and tracking dozens of moving parts across different systems, it is easy for important work to slip through the cracks.

Growth does not happen from working longer hours. It comes from visibility, accountability and efficiency across your team. When advisors can see what needs attention, automate repetitive tasks and measure outcomes in real time, they are able to serve more clients and deliver a better experience without increasing workload.

Data tells the story behind that progress. According to Molly Pierce, CEO of Track That Advisor, five key metrics are crucial to driving growth. And she explained them in detail during our recent webinar, which you can watch here.

1. Stick Rate

Stick rate measures how many first appointments actually take place compared to how many are scheduled. The benchmark is around 70% which means seven out of ten prospects should show up for their first meeting.

If that number is lower your follow up system may need a boost. Timely reminders, clear next steps and accountability within your team can help increase show rates. Improving stick rate not only impacts conversion but also shows that your communication flow is working.

2. Close Rate

Close rate shows how many of those first meetings turn into clients. To calculate it, divide the number of kept appointments by the number of new clients during a given period. A healthy benchmark for most firms is about 30%.

Tracking close rate helps advisors understand if they are connecting with the right leads and delivering a clear value proposition. Reviewing this number by advisor or workflow type can reveal coaching opportunities and help you refine your firm’s client engagement strategy.

3. Average Case Size

Average case size measures the average new assets each household brings in. It shows whether your marketing and referral strategies are attracting your ideal client profile. Divide total new assets by the number of new clients to calculate it.

Watching this metric over time can highlight shifts in your client base and help you focus resources where they have the most impact. It is also a useful way to evaluate whether your onboarding capacity aligns with the type of clients you want to serve.

4. Cost Per Client

Cost per client represents how much it takes to bring on a new relationship. To calculate, divide your marketing spend by the number of new clients gained within that same period. The average across the industry is about $6,000 per client though that number depends on your mix of referrals, paid marketing and events.

This metric helps you identify where your acquisition spend is most effective. Tracking it regularly makes budgeting and forecasting easier and ensures you invest in the right outreach strategies.

5. Pending Leads

Pending leads track how long prospects stay in your pipeline. The goal is to maintain 10 to 15 days between meetings or major touchpoints. Anything longer risks losing momentum and as the saying goes time kills deals.

This number also gives you insight into your firm’s true capacity. If clients are waiting weeks for a follow up it may indicate that your team is overloaded or that your process needs automation to move prospects forward smoothly. Remember time kills deals.

Why These Metrics Matter

These numbers do more than show where your firm stands. They provide insight into how well your team is communicating, how consistent the client experience is and where inefficiencies may be hiding. When everyone can see progress, priorities and accountability in one place it becomes easier to make proactive decisions that improve performance and client satisfaction.

Firms that measure these metrics consistently can spot bottlenecks early, improve collaboration and make sure no client task gets overlooked. Data empowers your team to grow confidently while maintaining the personal touch clients value most.

Turning Metrics into Action

Hubly helps firms turn data into real operational improvements. With clear visibility into your team’s work, Hubly makes it easy to build automated workflows that are intuitive and flexible. Advisors start their day with clarity, knowing what needs attention without digging through spreadsheets or disconnected tools.

Hubly provides insights into team efficiency and capacity so you can see where time is spent and where it can be saved. Easy to set up automations ensure consistency and prevent client work from slipping through the cracks. The result is a more organized, proactive firm where every team member knows their priorities and every client receives a consistent experience.

Start tracking what matters most and see how Hubly can help your team save hours, grow capacity and stay focused on delivering great advice.

Try Hubly free for 30 days and experience the difference in your daily operations.