Financial advisors don't believe they are completely in control of their time and business, according to a survey by the FPA Research and Practice Institute.

The greatest obstacles advisors face when it comes to productivity and profitability are trying to do too much, increased administrative burden and procrastination, the survey found.

Out of the 750 professionals surveyed for the 2014 Time Management and Productivity Study, the ones who had clearly defined business goals (68 percent) and personal goals (59 percent) were more likely to have more control. The advisors who felt they were in control also tended to rate their plan as effective compared to 44 percent who rated themselves not in control.

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