Most if not all owners of independent advisory firms focus on growing their businesses. Generally, that is a good thing: growth is usually a sign of a healthy business.
However, (you knew there would be a however) because most owners of independent firms have little or no formal business training, there’s a lot of confusion about just what “growth” is, and how it’s measured.
Rhe current trend among larger advisory firms is to reach $1 billion in client AUM. That’s a worthy goal, if it’s accompanied by reaching some other goals at the same time.
For instance, many firm owners who have set their sights on high AUM or revenue goals (which basically are the same thing), have been disappointed when they attain said goal. Usually, that’s because they find themselves making the same or even less money than when their business was smaller.