What Actually Separates a 30% Close Rate From a 60% Close Rate?

Close rate receives significant attention, but it is difficult to compare without a consistent definition of a qualified appointment, a shown appointment, and a completed sale. In Ashby & Vane’s internal observations, several process patterns appeared across production tiers.

The pattern by tier

Within the advisor conversations and account reviews available to us, some advisors reporting $3 million to $10 million in annual production also reported close rates of roughly 40% to 60% on qualified, shown appointments. Some advisors near the lower end of that production range reported rates closer to 30% to 40%. These are directional internal observations, not industry benchmarks, and differences in definitions, products, markets, lead sources, and reporting periods can materially change the result.

Look at the process behind the rate

Close rate is a lagging indicator affected by many factors. Earlier measures can add useful context: the share of scheduled appointments that attend, the share of sufficiently documented and appropriate conversations that receive a recommendation, and whether discovery supports an individualized recommendation. Product fit, pricing, market conditions, lead source, client circumstances, and differences in measurement also matter.

Review the leading indicators before assuming the closing conversation is the problem.

The math worth doing before you worry about your pitch

If an advisor rarely presents a recommendation after a conversation that meets the firm’s documented qualification and suitability standards, it may be useful to review the discovery and recommendation process. That does not mean every prospect should receive an offer: a recommendation should be made only when appropriate, supported by the available information, and permitted by applicable licensing, best-interest, suitability, carrier, and firm requirements.