Grow with Happier Clients by Outsourcing

by | Mar 4, 2019

Nearly half of advisors outsource select business functions, according to a new study by Fidelity. The No. 1 reason was to create more value for clients, finding that successful outsourcing of functions like investment management, legal and compliance, and marketing / communications allowed advisors to focus on deepening client relationships. Outsourcing of investment management also allowed for a “seamless” experience for clients.

Advisors that committed to outsourcing reported higher growth too, allowing them to manage more assets resulting in greater compensation. Firms agreed that outsourcing is essential to achieving scale in growing a firm or practice.

“We believe the future’s most successful financial advisors won’t allocate their time and energy the same way they do today. We’re asking wealth management firms to take a hard look at their firm’s functions and ask themselves, ‘Is this driving value?’ Advisors shouldn’t be afraid to consider letting go of the areas outside their core competencies. Outsourcing helps free up time and mindshare. Advisors are able to focus on building deeper relationships with their clients by focusing on what matters most to investors which, increasingly, is planning-centric and goals-based financial advice,”

Todd Roadman

Senior Vice President, Fidelity Clearing & Custody Solutions

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