Outsourcing: More time and potential cost savings when it’s done for you
Outsourcing can give you more time in your day if you’re looking to grow and scale faster. 52% of advisors agree: The primary driver in their decision to outsource investment management is enhanced efficiency and productivity, allowing them to spend more time with clients.1
More time for clients
Delegating the time-consuming middle and back-office processes that accompany investment management – means more time to concentrate on client-facing activities and business development.
That means less time spent on investment research, manager due diligence, portfolio construction, reconciliation, performance reporting, tax optimization, statement preparation, and invoices – and more time gathering assets, acquiring new clients, and servicing existing accounts.
Better access to experts
Outsourcing providers can offer deep expertise to help you navigate the complexities of running your business, offer training in professional areas for your staff, and provide tailored service. They can assist with your day-to-day business operations and help you think strategically, help you grow your business, and potentially increase real income.
Some outsourcing providers also offer marketing programs, technology, practice management support, and other assistance to help with philanthropy, retirement distribution planning, asset protection, tax planning, and business succession — all aimed at helping you become more efficient and successful. Combine these services with access to a diversified range of model portfolios, and you could have a winning solution that best fits your clients’ risk profiles.
Potentially more efficient and cost-effective
Outsourcing can help you achieve greater operational efficiency and save time since you no longer must support redundant or commoditized operations, paperwork, running reports, rebalancing portfolios, and generating invoices.
It can be less costly since the overhead of hiring traders and operations talent or buying and maintaining technology, such as rebalancing and trading, is removed. In fact 58% of advisors say outsourcing reduced their operating costs.2