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Reviewed by Asher Syed for Readers' Favorite
In Attract & Grow: The Financial Advisor’s Blueprint for Attracting $50 Million in Annual Assets, David J. Scranton outlines his journey in the financial services industry, leaning into the importance of client attraction and income-oriented strategies over aggressive sales tactics. He speaks on differentiation and specialization, championing retirement planning as a niche. Scranton critiques traditional growth strategies and supports income-focused approaches, such as annuities, bonds, and REITs, to reduce financial risks in retirement. He talks about the value of branding for financial advisors, noting its role in trust-building and lead generation. Scranton also introduces a four-person team structure for business growth with highly specialized roles. He presents a five-stage entrepreneurial framework to guide advisors from sales to strategic leadership, asserting the importance of goal-setting, delegation, and continuous improvement for long-term success.
David J. Scranton’s Attract & Grow is a thoughtful guide for financial advisors looking to build sustainable businesses outside of traditional growth metrics. Scranton’s writing is straightforward, clear, and extremely accessible, with a conversationally authoritative voice that underscores his success and experience. His strategies are surprisingly practical and, most importantly, realistic. I liked that in addition to the big picture and how to overhaul to get there, the strategies come down to reversing mistakes most advisors make. The standouts to me were with regard to non-compete agreements and hiring overly independent advisors; his advice here is so different from what I've ever been given but makes so much more sense. Overall, Attract & Grow is a fantastic guide that's loaded with actionable insights and grounded in real-world examples, making it an invaluable resource for financial advisors at any stage of their career.
