Advice Conversion Rate
Percentage of financial advice consultations that result in a product sale or mandate
What is Advice Conversion Rate?
Advice conversion rate is the percentage of client consultations that result in a sale. It shows how well advisers turn conversations into business.
For financial services, where advice is the main sales route, it shows adviser effectiveness and the value of each meeting.
How this KPI is measured
- Function
- Sales
- Sub-function
- Sales Conversion
- Industry
- Financial Services
- Type
- Lagging
- Impact
- Risk
- Unit
- %
- Measurement frequency
- Monthly / Quarterly
- Formula
- (Consultations resulting in sale / Total consultations conducted) × 100
How to calculate it
Divide consultations resulting in a sale by total consultations conducted, and multiply by 100.
For example, if advisers held 200 consultations and 70 led to a sale, the rate is 35%.
Split by adviser, client type and source, and record advice given in line with regulatory requirements.
Where it is used
Improving adviser performance
Compare and coach.
Judging lead quality
See which sources give buyers.
Planning capacity
Estimate sales from consultations.
How to improve it
Tips and common mistakes
- Regulated advice must be suitable. Never push conversion at the client's expense.
- Look at client outcomes and satisfaction too.
- Compare advisers on similar client types.
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