Sound Income Strategies Sees Record Growth as Advisors, Clients Seek Income-Generating Investment Strategies
Total Assets Under Management (AUM) Rockets by 32% to $3.5 Billion
FORT LAUDERDALE, Fla., Jan. 28, 2025 /PRNewswire/ -- Sound Income Strategies, an SEC-registered RIA, reports record growth in 2024, attracting advisors and clients alike with its exceptional strength and innovative income-generating investment strategies.
The firm's assets under management shot up 32% from the previous year to more than $3.5 billion. Strong recruiting efforts helped Sound Income Strategies achieve 7% advisor growth in 2024, allowing the firm to represent more than 100 advisors nationwide. The firm also increased home office staff by 25% to support its growing advisor team. The number of accounts grew by 22% to more than 23,000.
"More than 20 years ago, I saw the overlooked risks in the traditional 60/40 growth-oriented portfolio and took a bold step in a new direction," said David J. Scranton, founder and CEO of Sound Income Strategies. "I developed a philosophy centered on generating a reliable source of income in retirement while safeguarding principal, even amidst the uncertainties of the market and economy — a strategy that has not only empowered my clients but also inspired countless advisors to transform their practices with income-generating portfolios."
Scranton's income-generating focus uniquely prioritizes interest, dividends, and other income-generating investment vehicles, enabling clients to maximize their retirement income and total return on their investment dollars while minimizing unnecessary financial risks.
Attract & Grow
Scranton credits his "attract and grow" business strategy for the record numbers. His belief that wealth managers should attract, not chase, clients has successfully garnered his firm new advisors. It also inspired Scranton's fourth book, "Attract & Grow: The Financial Advisor's Blueprint for Attracting $50 Million in Annual Assets."
"I remember struggling in my early years as a financial advisor, as I pursued clients by knocking on office doors," Scranton said. "It wasn't an efficient, or effective, way of growing my firm. Everything changed once I adopted an attraction-based marketing strategy. I was able to grow enough to launch two other affiliated businesses."
About Sound Income Group
Sound Income Group comprises three full-service firms offering investment services, marketing, coaching, practice management, and franchise opportunities for the financial community. It operates Sound Income Strategies, LLC, an SEC registered RIA with more than $3.5 billion of total assets under management; Sound Income Academy, a recruiting and marketing firm; and Retirement Income Source®, a national network of Income Specialists who help clients establish steady streams of income. Learn more at www.soundincomegroup.com.
Investment advisory services are offered through Sound Income Strategies, LLC, an SEC Registered Investment Advisory firm. Sound Income Group, Sound Income Strategies, LLC, Sound Income Academy, and Retirement Income Source®, LLC, are associated entities.
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SOURCE Sound Income Group
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