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The benefits business and the wealth management business are often on opposite sides of an argument.  Wealth management advisors seek a smaller number of high net worth (HNW) households with lots of assets.  The benefits business might mean having many individuals buying health insurance.  You may have one foot in each camp.  Are smaller accounts worth it?

1. Diversification.  Lets assume a wealth management advisor seeks $100 million in assets under management. This might be 100 clients averaging a million, or it might be only one client with $100 million.  The fewer the clients, the greater the hit to revenue when you lose a client.

 

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