“Firms that establish dashboards for key performance indicators (KPIs) and run regular leadership reviews see improved KPI scores over successive quarters, according to CEG Insights’ 2025 Building an Elite Advisory Force study. That’s because tracking numbers isn’t enough — what drives results is how you use them.
Tracking metrics like revenue or assets under management (AUM) is important — but it’s only half the story. The real value comes when you translate those numbers into real-time decisions that fuel growth. Moving from passive reporting to active planning allows you to spot patterns, anticipate issues and respond strategically — before performance slips.
“I don't know how you would gauge success without the metrics — and certainly you wouldn't be able to gauge progress to your goals without having access to good metrics, good data.”
— Nick DeCenso, Senior Director of Wealth Management Solutions at CAPTRUST
Leading firms use forward-looking metrics to power decision-making, align teams, and hold each other accountable. They don’t wait for results to slip — they define thresholds in advance and assign clear next-steps when metrics are missed or exceeded. Every number is connected to a business priority, and every dashboard is built to drive action.
Use the interactive tool in this lesson to:
- Choose KPIs that align with your business goals
- Set meaningful thresholds for each metric
- Assign actions and accountability when thresholds are met or missed
You’ll walk away with a metrics framework that transforms your dashboard into a decision engine — equipping your team to influence outcomes with greater clarity, confidence and consistency.
INSIGHTS
Identifying growth metrics
In this video, Nick DeCenso discusses how he’s used metrics to grow his own practice — from identifying key metrics to translating that data into action.
Nick DeCenso
Senior Director of Wealth Management Solutions, CAPTRUST
3MINVIDEO
Primer
Link KPIs to your goals
Are you an advisor who tracks your AUM, revenue growth or net new clients but still feels unsure how those numbers connect to the day-to-day decisions that drive your business forward? You’re not alone. It’s easy to measure results. It’s more difficult — but far more powerful — to use metrics to influence them.
That shift begins when you view every metric as a strategic lever, not just a performance report.
Let’s say your referral rate has dropped in the last two quarters. The number tells you something’s changed, but not what to do next. Now imagine if you had a plan that clearly outlined:
- What drives referral activity
- How to standardize and scale those behaviors
- What early indicators to monitor
- And exactly what steps to take if the metric dips
With that kind of clarity, your dashboard stops being a rearview mirror — and becomes a steering wheel.
It starts by anchoring each metric in a clear business goal. What are you trying to grow, improve or protect? It might be client retention, team productivity, wallet share or overall profitability. Once you define that goal, ask yourself: What are the behaviors or experiences that tend to lead to this outcome?
In the case of referrals, say 80% come from clients who attend your quarterly webinars. That insight becomes your lever. You now have something you can design around: a repeatable process to engage clients, invite feedback and ask for introductions in a timely way.
Next, identify the leading indicators — the early signs that your strategy is working. These are easier to influence than outcomes and give you time to course-correct. For referrals, it might be the number of clients attending events, follow-up conversations held or referral asks made.
The final step? Define your trigger points and responses. If attendance drops below a certain level, or if the referral rate dips under your target, what happens next? Who takes action? What changes?
This is the work that turns tracking into traction.
This lesson includes a guided tool to help you choose the KPIs that matter most to your business. You’ll be able to create a metric system that’s not only informative, but actionable too.
Because in a world-class practice, numbers don’t just sit in reports. They spark movement, shape priorities and drive meaningful change.