Why Outsource for Your Advisory Practice Rather Than Hire?

Posted by Freedom Advisors on Oct 22, 2021 2:22:03 PM

It is often said that great businesses have great teams. They work together in harmony toward a common goal and can achieve great things, together.

Increasingly, members of a successful team are not direct employees of an advisor’s practice. Let’s face it – managing personnel is not the primary reason any advisor wants to run their own business. Yes, it can certainly be rewarding, especially when mentoring a junior associate or seeing professionals grow before your very eyes. But to be an effective recruiter and manager of top talent requires a unique skill set, as well as constant training and understanding of how the labor force is moving and changing, because it most certainly does.Finding local talent with the elusive mix of industry skills and experiences can be challenging. What if your business experiences a major growth surge or the need for a particular expertise? Are you able to quickly and easily increase your level of expert resources to meet the increased demands?

As a trusted advisor, don’t you want to spend your time doing what you do best, not to mention how you really want to spend your limited hours? Ultimately, your clients are your primary focus and anything that detracts from that is a missed opportunity.

All of this helps to explain why outsourcing is an increasingly popular, proven way to make your business more efficient and scalable to grow without having to dedicate so much of your own personal time and resources to managing this time-consuming task.

Cost effectiveness

Employing full-time personnel costs a lot of money and is often the second-highest expense in any advisory firm, including salary, incentive compensation, benefits, workspace and technology. And these expenses are not going down any time soon.

An outsource partner should be one specifically built to remove this burden, to know your business and to service it as effectively and professionally as an internal employee around the clock 24/7 with a dedication that is unmatched.


The Freedom Advisors platform gives you access to a staff with experts in many different areas that directly impact your practice, and they are there when YOU need them. You can call upon any member of our service and consulting teams to help with a wide range of issues including portfolio construction and trading, ongoing monitoring and rebalancing, performance tracking, cash management, account opening, transfers and maintenance, billing, custodial account processing, client service, and many others.

Let’s say your practice experiences a growth spike of 20-30% in a short period of time. While that seems to be an incredibly positive challenge to have, it is a circumstance that creates a whole new set of issues. And one of your toughest will be how to handle that growth with more personnel and resources. Do you have the flexibility to change your priorities and gear up quickly, not only for the short term but also potentially for longer-term growth?

Outsourcing provides you with tremendous flexibility and the ability to focus on what you do best – maximizing the time you spend with your clients and making them as successful as possible in meeting their financial goals.

Experience and Expertise

Outsourcing makes a lot of sense when it is to a truly turnkey, advisor-centric, high-touch expert. That experience provides invaluable insight into bringing real-world solutions to your practice. Experience alone, however, is not enough without having the expertise to avoid common pitfalls. Our professionals are trained rigorously and continuously to ensure they are up-to-date on industry trends, including markets, investment products, operational processing, regulation, and a myriad of other important ways to support your practice. Portfolio construction, for example, is an ever-changing, ever-evolving landscape and it pays to know people whose job is to track the latest technology developments and best practices.

The Freedom Advisors team can help you identify which areas need the most support, and then quickly focus on those areas so your business doesn’t skip a beat.

Contact us today for a free consultation and let us show you the ease, efficiency, and power of outsourcing for your practice.

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Topics: Advisor Support

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