Outsourcing Lets Financial Advisors Shine

Posted by Freedom Advisors on Jun 19, 2020 7:30:00 AM

Many advisors struggle daily to get the support and materials they need, spend hours each day on back office operations, and wind up with less time for what they do best: provide advisory services and build relationships with their clients. An efficient way to lift the burden of back office operations and day-to-day grind is to partner with a turnkey asset management platform (TAMP) that provides these services.

A TAMP partner frees you from hours of dozens of operational processes, tech vendor management, money manager due diligence, portfolio management, and performance reporting. You save time and energy that you can spend developing your client relationships.

More and More Advisors Are Outsourcing to TAMPs

According to a recent report* from Tiburon Strategic Investors, the TAMP industry is clearly growing. According to Tiburon, in 2009, TAMPs had $586 billion in assets and 1.3 million accounts, but as of year-end 2018, TAMPs were a $7.4 trillion market.

Several industry trends are currently boosting demand further for outsourcing across the wealth management industry. Tiburon predicts there will be $13 trillion in assets on TAMP platforms by 2024 as the independent advisor channel grows and even wirehouses begin outsourcing technology.

What Can an Outsourced Partnership Provide?

  • Advisor-branded materials to put you front and center
  • Portfolio models designed to meet a variety of goals
  • Access to money managers that may otherwise be out of the investor’s reach
  • Built-in administrative and processing tools
  • Online advisor and client account portals
  • Timely market commentary, webinars, and additional resources
  • Dedicated business consultants and support teams

When you spend less time on back office operations and calculations to prepare for your portfolio oversight, you have the freedom to spend more time with clients advising, developing relationships and building your business.

Client Acquisition and Retention

More time to:

  • Develop prospective clients
  • Nurture and strengthen new client relationships
  • Expand existing relationship networks via family referrals and succession planning

Client Education

  • Use our brochures with your branding to help your clients understand risk and return, portfolio construction, investment maintenance, and more
  • You deliver useful information to your clients via Freedom Advisors-provided, quarterly market analyses

Building Trust

  • Implement models that address your clients’ unique situations, needs, and goals
  • When you spend less time on back office operations and portfolio management, you have the freedom to spend more time with clients advising, developing relationships and building your business

Reduce Staffing Costs and Save Money

  • Reduced need to hire in-house staff at additional expense. When you outsource, fluctuations in labor demand are absorbed by the company you hire.
  • Platform fees are passed through to the client.

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*Source: Investment News

Advisory services are offered through Freedom Investment Management, Inc. ("Freedom"), a registered investment advisor. Freedom does not provide tax or legal advice.

Topics: Business Outsourcing, Advisor Support, Practice Support

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