This analysis measures client retention using average monthly churn rate — the percentage of active clients permanently lost each month, averaged over time. This normalizes for portfolio size and tenure, giving a fair comparison across managers.
Data covers 41 months of billing history (January 2023 – May 2026). June 2026 is excluded as an incomplete billing month.
Key Metrics
| Metric | Value |
|---|---|
| Total Active MRR | $321,230 |
| Active Clients | 225 |
| Avg Revenue per Client | $1,428 |
| Firm-Wide Monthly Churn (All-Time) | 1.6% |
| Firm-Wide Monthly Churn (Last 12mo) | 3.7% |
| Annualized Churn (All-Time) | 18% |
| Annualized Churn (Last 12mo) | 36% |
How to read: A 2% monthly churn rate means ~2% of active clients depart each month, compounding to roughly 22% annually. The SaaS industry benchmark for SMB services is typically 3–5% monthly; below 2% is strong.
Summary by Client Manager
| Client Manager | Active | Active MRR | Avg/Client | Mo. Churn (All) | Mo. Churn (12mo) | Mo. Churn (6mo) | Annualized |
|---|---|---|---|---|---|---|---|
| Nate Plating | 43 | $65,111 | $1,514 | 2.4% | 2.1% | 2.6% | 26% |
| Josh Eisenberg | 37 | $61,095 | $1,651 | 2.2% | 5.2% | 6.0% | 24% |
| Phil Zdanowski | 45 | $50,244 | $1,117 | 1.0% | 2.8% | 2.8% | 11% |
| Sam Kaplan | 27 | $47,150 | $1,746 | 1.5% | 5.0% | 5.4% | 16% |
| Viny Kaur | 27 | $40,730 | $1,509 | 6.8% | 6.8% | 8.2% | 57% |
| Abdelhak Jadallah | 22 | $31,650 | $1,439 | 1.9% | 4.1% | 4.8% | 21% |
| Alex Lugbill | 18 | $19,400 | $1,078 | 3.5% | 2.5% | 3.1% | 34% |
| Kendra Edelman-Smith | 5 | $4,600 | $920 | 2.9% | 6.2% | 7.3% | 30% |
| Jeff Abrams | 1 | $1,250 | $1,250 | 2.8% | 0.0% | 0.0% | 29% |
| FIRM-WIDE | 225 | $321,230 | $1,428 | 1.6% | 3.7% | 4.4% | 18% |
“All-Time” covers each manager’s full active period. “12mo” and “6mo” are trailing averages. Annualized = 1 − (1 − monthly rate)¹².
Monthly Churn Rate Over Time
3-month rolling average of monthly churn rate per client manager, with firm-wide rate (black line) from the IFM. Jul 2024 – May 2026.
Manager Profiles
Nate Plating
43 active clients (62 companies) | MRR: $65,111 | Avg: $1,514/client
Nate maintains solid retention at 2.4% average monthly churn (26% annualized). 9 total churn events over 30 active months. Recent 12-month average is 2.1%/month, which is improving relative to the all-time average — a strong signal for the firm’s largest revenue portfolio.
Josh Eisenberg
37 active clients (50 companies) | MRR: $61,095 | Avg: $1,651/client
Josh maintains solid retention at 2.2% average monthly churn (24% annualized). 18 total churn events over 36 active months. However, the recent 12-month rate has jumped to 5.2%/month — a worsening trend that warrants attention given his portfolio size.
Phil Zdanowski
45 active clients (66 companies) | MRR: $50,244 | Avg: $1,117/client
Phil demonstrates excellent retention with just 1.0% average monthly churn (11% annualized). Over 40 active months, only 16 clients churned across 11 months. His recent 12-month rate of 2.8%/month represents some acceleration but remains below the firm average. The best retention record on the team.
Sam Kaplan
27 active clients (36 companies) | MRR: $47,150 | Avg: $1,746/client
Sam demonstrates excellent retention with 1.5% average monthly churn (16% annualized). Over 37 active months, only 7 clients churned across 5 months. His recent 12-month rate of 5.0%/month is worsening relative to his strong baseline — worth monitoring.
Viny Kaur
27 active clients (30 companies) | MRR: $40,730 | Avg: $1,509/client
Viny shows the highest monthly churn at 6.8% (57% annualized), but context matters: with only 6 active months of data, the average is highly volatile. Her $40,730 MRR book is substantial. This rate needs several more months of data before drawing conclusions.
Abdelhak Jadallah
22 active clients (22 companies) | MRR: $31,650 | Avg: $1,439/client
Abdelhak demonstrates excellent retention with 1.9% average monthly churn (21% annualized). Over 36 active months, 14 clients churned across 11 months. Recent 12-month average is 4.1%/month — some acceleration but still a solid all-time track record.
Alex Lugbill
18 active clients (29 companies) | MRR: $19,400 | Avg: $1,078/client
Alex shows moderate churn at 3.5% monthly average (34% annualized) across 18 active months. However, his recent 12-month rate of 2.5% shows improvement, and his 6-month trend at 3.1% is stable. The all-time rate may reflect earlier portfolio composition challenges.
Kendra Edelman-Smith
5 active clients (5 companies) | MRR: $4,600 | Avg: $920/client
Kendra has 2.9% average monthly churn (30% annualized) with 7 clients lost over 36 months. The recent trend at 6.2% (12-month) is worsening. Her small remaining portfolio and low average revenue suggest reviewing client fit and service model for her accounts.
Jeff Abrams
1 active client (6 companies) | MRR: $1,250 | Avg: $1,250/client
Jeff’s 2.8% all-time monthly churn reflects a small, legacy portfolio. With 0% churn over the last 12 months and only 1 active client, the rate is statistically less meaningful. His role appears to have evolved beyond direct client management.
Top 15 Non-Active Clients by Lifetime Revenue
These are the highest-value client relationships no longer active. Lifetime revenue from IFM billing history.
| Client | Manager | Started | Ended | Peak MRR | Lifetime Rev |
|---|---|---|---|---|---|
| Amino | Phil Zdanowski | Apr-23 | Jul-25 | $17,050 | $298,220 |
| Dean Wynn Financial | Phil Zdanowski | Jan-23 | May-26 | $15,000 | $242,772 |
| SHK Financial | Sam Kaplan | Jan-23 | May-26 | $15,000 | $242,772 |
| Aplos. Inc. | Abdelhak Jadallah | May-23 | Apr-26 | $7,500 | $195,500 |
| TubeScience | Kendra Edelman-Smith | May-23 | Jan-25 | $15,000 | $172,725 |
| Artium Technologies | Kendra Edelman-Smith | Oct-23 | Feb-25 | $15,000 | $151,500 |
| Wardrobe LLC | Alex Lugbill | Jul-25 | Oct-25 | $15,000 | $55,000 |
| Gardencup LLC | Abdelhak Jadallah | Oct-23 | Sep-25 | $5,000 | $51,000 |
| Ark Hospitality | Phil Zdanowski | Oct-23 | Mar-26 | $1,750 | $47,500 |
| AOI Advisors LLC | Josh Eisenberg | Jan-25 | May-26 | $2,500 | $46,250 |
| ParkIt | Abdelhak Jadallah | May-23 | Oct-25 | $1,500 | $43,500 |
| Pipeliners Cloud LLC | Josh Eisenberg | Jan-25 | Mar-26 | $2,600 | $40,900 |
| Embrace Life, Inc. | Phil Zdanowski | Jan-25 | May-26 | $3,200 | $33,200 |
| Stinger Sports - Payroll | Alex Lugbill | Feb-25 | May-26 | $1,960 | $31,360 |
| Hammerhead Pools LLC | Nate Plating | Apr-25 | May-26 | $2,150 | $30,100 |
Key Findings
Retention Leaders
Phil Zdanowski leads retention with just 1.0% average monthly churn across 45 active clients. Sam Kaplan (1.5%) and Abdelhak Jadallah (1.9%) also perform well below the firm average. These managers demonstrate that large portfolios can be managed with low churn.
Accelerating Churn
The firm-wide trend shows churn accelerating: 1.6% all-time average vs 3.7% over the last 12 months. Josh Eisenberg’s recent 12-month rate (5.2%) is notably higher than his all-time average, despite managing the second-largest revenue portfolio. Kendra Edelman-Smith shows a similar pattern. This firm-wide acceleration warrants attention — is it a market shift, pricing issue, or service delivery challenge?
Viny Kaur Anomaly
Viny Kaur shows the highest monthly churn (6.8%), but with only 6 months of data, the average is highly volatile. Her $40,730 MRR book is substantial. Worth monitoring over the next several months to see if the rate stabilizes.
Revenue at Risk
At the current firm-wide monthly churn rate (3.7%), the firm is losing approximately $11,885 in MRR each month. Over a year, that compounds to 36% of the client base, requiring significant new business just to maintain flat revenue. Reducing monthly churn by even 1 percentage point would preserve ~$38,548/year in MRR.
Methodology
- Monthly churn rate = (clients with revenue last month but not this month, and never again) ÷ (clients with revenue last month)
- Temporary billing gaps are not counted as churn — only permanent departures
- June 2026 excluded (incomplete billing month: $96K from 78 lines vs ~$330K/200+ normally)
- Active MRR and client counts from Client Admin View workbook (contracted billing amounts)
- Historical billing from IFM Rev_Src (accounts 4010, 4025, 4110, 4160)
- Annualized churn = 1 − (1 − monthly rate)¹²
Prepared by Phaedrus — June 6, 2026