They say
“Our growth is all referrals.”
We say
Very possibly, and the report will prove it rather than assume it — and show which partners and which clients actually refer.
For Wealthbox
A client is ten years of fees. Which advert produced them is a shrug.
Export your clients and their fees, upload the enquiries beside them, and rank marketing on assets and revenue rather than on enquiries.
No API key Nothing to install in WealthboxNothing to install No card requiredNo card
CloseRev reads a Wealthbox export of clients and the fee or asset figures you hold alongside it — the contact's email or phone, the amount and the date — and matches it against the enquiries, calls and seminars that produced them. An advisory relationship is measured in years and fees recur, so the acquisition cost of a client is trivial against what they are worth and almost nobody knows which channel produces them. Clients with no traceable enquiry are reported as Direct / Unknown.
Last checked against Wealthbox's own documentation on September 24, 2026.
The gap
Growth comes from referrals, seminars and a website nobody measures. When you spend on marketing you have no way to tell whether it worked.
Wealthbox sees
What was sold, to whom, and for how much.
no shared row
Your ad account sees
The click, the keyword, the call, and what each one cost.
The file
What the export needs in it.
Three things carry the match: who, how much, and when. Anything else is optional and only changes how the report can be sliced.
- Needed
Contact email or phone
On the client record. Advisory enquiries arrive by phone and by form in roughly equal measure, and seminars capture whichever the sign-up sheet asked for.
- Needed
Fee or assets under management
Annual fee is the cleaner number because it is revenue; assets work if fees are not in the export, as long as it is consistent.
- Needed
Onboarding or first-fee date
When the relationship started or first billed. Either is fine; the gap from enquiry to onboarding is what matters and it is long.
- Optional
Service tier or segment
Whatever separates your client bands. A channel producing many small relationships and one producing few large ones need to be read apart.
Step by step
Getting the file out of Wealthbox.
Written for somebody with Wealthbox open in the next tab. Report names vary by edition, so each step says what to look for.
-
Export clients with a value
One row per client with a contact detail, the fee or asset figure and a date. Wealthbox holds the relationship; the value usually comes from your billing or portfolio system.
-
Use annual fee where you can
It is revenue and it is comparable across clients. Assets under management works but flatters a channel producing large, low-fee relationships.
-
Export every enquiry source
Website forms, call tracking, seminar and webinar sign-up sheets, referral logs, and any directory or matching service you pay for.
-
Go back two years at least
Advisory relationships form slowly. A family considers moving adviser for months or years, and a short file will attribute almost nothing correctly.
-
Upload both
The join is the email and the phone, normalised, and the report keeps referrals visible beside paid sources rather than lumping them into Direct / Unknown.
What comes back
The page Wealthbox cannot show you.
Revenue by channel, the count of sales behind each figure, and an honest bucket for the ones nobody could trace. Sample figures, from the worked example on the Wealth Management page — not from a Wealthbox account.
Traced to a channel$376,00047% of $800,000
Sales matched53 of 114high confidence only
Average sale$7,000per paid sale
| Channel | Share | Sales | Revenue |
|---|---|---|---|
| Google Ads | 24 | $168,000 | |
| Email marketing | 18 | $112,000 | |
| Events | 11 | $96,000 | |
| Direct / Unknown | 61 | $424,000 |
Unmatched sales stay in Direct / Unknown. They are never spread across the paid channels to make the total look better.
The argument
What changes when the client and the ad share a row.
Referrals are the largest channel and the least examined
Most advisory firms grow primarily on referrals from existing clients and from professional partners — accountants, solicitors, estate agents. It is the cheapest acquisition in the business and nobody measures it because no invoice arrives.
That absence distorts everything else. Paid channels get judged against a total that quietly includes all the referral growth, or against no baseline at all.
Logging referrals as a source and putting them in the same report is usually the first genuinely new information a firm gets from this. It also shows which professional partners actually send clients, as opposed to which ones get taken to lunch.
The cycle is measured in years, which defeats every reporting window
Moving adviser is a high-trust, low-frequency decision. Somebody attends a seminar, takes a brochure, thinks about it, and calls eighteen months later when a pension crystallises or a parent dies.
No advertising platform reports on that horizon, so the seminar and the search campaign that produced the enquiry are long since judged and switched off.
A client file going back two or three years, matched against enquiry records from the same period, is the only way to see it. In this category the correction is usually large enough to change what the firm does with its marketing budget entirely.
Client value is so skewed that averages are close to useless
One relationship can be worth more than thirty others. The distribution is not merely uneven, it is concentrated to the point where the mean describes nobody.
Cost per enquiry and cost per client therefore say very little. The question is which channel produced the relationships that matter, and that is answerable only with the fee figure attached.
Where the export carries a service tier or segment, the report splits on it, and channels that looked identical on client count routinely separate by a wide margin on revenue.
Seminars and events are marketing and are rarely reported as such
Seminars, workshops and client evenings are a substantial line in many firms' budgets, and their results are assessed by how the room felt and how many cards were collected.
A sign-up sheet with a name and an email is a lead file. Matched against clients onboarded over the following two years, an event becomes comparable with a search campaign on exactly the same terms.
Firms that do this usually find the ranking is not what they assumed, in one direction or the other, and either answer is worth the exercise.
Fair questions
“Wealthbox already does that.” Not quite.
They say
“Our compliance team will not allow client data anywhere.”
We say
A contact detail, a figure and a date. No portfolios, no holdings, no account numbers, no statements, no suitability notes.
They say
“Our cycle is far too long for this.”
We say
It is too long for advertising platforms. A file covering three years is not too long for a file covering three years.
No. It reads a file you exported; no credential to your account is held.
Clients with a contact detail, a fee or asset figure and a date.
Annual fee where you have it. Assets work consistently applied but flatter large, low-fee relationships.
Two to three years. This is one of the longest cycles in the catalogue.
Yes, if you log them as a source. For most firms that is the largest channel and the one never measured.
Yes. A sign-up sheet is a lead file, and matched over two years an event compares like for like with a campaign.
Yes, where the export carries one. Client value is skewed enough that averages describe nobody.
They are the denominator. A channel's conversion from enquiry to client is what separates it from the others.
Direct / Unknown — and in an advisory firm that bucket is usually referrals nobody logged, which is itself the finding.
Yes. The files are smaller and the question is identical.
A contact detail, a figure and a date, plus a segment if you include one. No portfolios, no holdings, no account numbers, no statements, no notes. Encrypted in transit and at rest, isolated to your firm's workspace, deleted with the import.
Revenue or assets by source, referrals beside paid channels rather than hidden in Direct / Unknown, and everything unmatched kept visible.
By trade
Trades that run Wealthbox.
What the report looks like once the export is in, written for each one.
Other systems
Also worth reading.
Running more than one system, or comparing? The method is the same and the columns are not.
Either file HubSpot Sales and marketing teams on HubSpot CRM Either file What to export Either file Salesforce Revenue teams with Salesforce as the system of record Either file What to export Lead and call file Calendly Teams whose first conversation is a booked meeting Lead and call file What to export
All 60 systems 
Wealthbox and the other product names and logos on this page belong to their owners and are shown to identify the software a file comes from. CloseRev is not affiliated with or endorsed by them, and connects to none of them: it reads a file you export.
Start today
Two exports, and you will know.
Nothing to install in Wealthbox, no API key, and no need to have been tracking anything until now. Last year works as well as this month.