3-8% for mass-affluent advice, 8-18% for specialist niches (DB transfer, equity release), 1-4% for HNW wealth management. Measure over 90+ days.
Benchmarks
- Mass-affluent: 3-8% - Specialist (DB, ER, BTL, IHT): 8-18% - HNW wealth: 1-4% (but LTV 10x+) - Protection: 18-35% (shorter cycle)
Levers
Speed-to-contact, qualification quality, adviser-to-lead fit, offline conversion feedback.