Harness the Power of Relationships 

Attempting to accomplish everything on your own is a daunting task. Eventually, it may become impractical or unfeasible since there is only one of you, and the workload can become overwhelming. As your business grows, your responsibilities increase proportionally.

Despite the expanding to-do list, it’s crucial to maintain up-to-date documentation and continuous improvement of the business’ procedures and protocols, such as those for internal operations, reporting, billing, investing, trading, etc. If you are a financial advisor looking to grow your business, a key consideration is to harness the power of a partnership with a back-office solutions provider. By leveraging the strength of a partner, you can achieve more together than alone. 

What’s most important to you? If you want to grow, it becomes impossible to oversee every aspect of your business at some point. No one can do it all. Are you ready to let go of some of your firm’s most time-consuming responsibilities yet want to avoid hiring and managing additional staff? Outsourcing to a trusted partner is a viable solution. 

If you answer “yes” to one or more of these questions, this could be a sign that you’re ready to outsource at least some area(s) of your business:

  • Are you interested in reducing your level of involvement in the day-to-day administrative responsibilities of your business?
  • Do you find meeting with clients and/or acquiring assets the most stimulating and invigorating activities?
  • Would having more free time allow you to attract clients you genuinely enjoy working with?
  • Are you interested in expanding the growth potential of your business without hiring additional staff?
  • Do you wish to provide your clients superior proficiency or expertise that you cannot deliver independently?
  • Have you tried staying current with the latest technology but still feel that your systems require modernization?
  • Do you want to reduce your focus on managing, recruiting, and training team members?
  • Do you want to spend more time growing your business and less on investment performance and research?
  • Even if you opt to outsource, would you still prefer to have some degree of involvement in your clients’ investments?

One of the most apparent advantages of outsourcing is that it gives you more time to concentrate on what you do best and enjoy the most. Moreover, outsourcing is a cost-effective solution when you evaluate the value of your time. By establishing a back-office solutions provider partnership, you can enhance your life’s efficiency and gratification, both inside and outside your business.

Partnering with a trusted provider can free up your time to primarily focus on being a business owner and trusted financial advisor to your clients; you and your business will have the best opportunity to succeed in the long run. Today more than ever, there are many options available to independent advisors. Once you decide which tasks you’d like to outsource to free up more of your time, identifying potential partners who are a good fit for your firm is essential to build successful partnerships.

Freeing up your time and energy is a great advantage when you choose to embark in a partnership, but transitioning your clients to new processes requires a significant decision. When considering outsourcing, selecting the appropriate partner is critical for you and your clients. Here are some of the viewpoints that several advisors who use FocusPoint Solutions share:

  • You want to remain in control of your client experience. We don’t dictate how you run your business. FocusPoint Solutions structures portfolios for you to use at your discretion. You can utilize existing models and investment philosophy, or we can implement yours. The majority of investment research and ongoing monitoring can be handled by our CFA-led investment team (which serves as an extension of your staff) so that you can make informed decisions while committing much less time to portfolio management.
  • You and your clients are unique. You’ll most likely need to build around existing assets and accommodate accounts of various types and sizes. That’s why FocusPoint Solutions can help design flexible portfolios to meet your specific needs. We want to help you do what’s best for you and your clients.
  • You are fiercely independent. FocusPoint Solutions is a true private-label solution, acting on your behalf behind the scenes. Your clients do not sign an agreement with us; we support and communicate with you, the advisor. Our systems are intentionally non-proprietary and can likely be incorporated into the financial planning process you already have in place. The client pieces you generate from our system display your unique logo, colors, and brand.

Created by advisors for advisors, FocusPoint Solutions services assist advisors seeking to make their businesses more profitable and efficient. Through developing and implementing a customized business and marketing plan that includes outsourcing, advisors supported by FocusPoint can focus on growth. As you plan for growth in 2023, embrace collaboration; let’s work together and unlock new opportunities to reach your full potential! 

Contact us today to discuss your unique situation and get a free demonstration.

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Read some real-life case studies involving advisors FocusPoint Solutions has helped to successfully transition to new business models, while supporting them with an experienced virtual team and integrated technology.

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If you'd like to schedule a 30-minute demo to learn more about FocusPoint Solutions' virtual support team and technology offering, contact us. Our goal is to customize a solution to address your unique needs.

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