As an asset manager, your challenges loom large. Throughout your day, the competition for investor funds pushes you to broaden your portfolio across multiple asset classes, currencies and regions — but managing these complexities can overwhelm your back office.
You also know that in the industry, the broader trend of fee compression is shifting priorities, along with charging based on asset points. Wealth managers now need to be focused on strategy or style of investments, while gaining efficiencies in their operation. Now, you can do both.
Asset managers are trying constantly to keep up with changing industry regulations and shifting priorities. This can create gaps and inefficiencies. Asset management outsourcing may be the answer.
Up to 50% of financial advisors today outsource some or all of their investment management. Here are some key benefits of outsourcing your asset management:
The resources required to support advisors’ management activities are time-consuming and costly. Offloading those tasks can save your staff for other activities like client engagement and networking.
Surveys say 82% of advisors say they wish they could spend more time with clients and growing their business. Some advisors also say they want to concentrate on activities with greater value to the client, such as financial planning, tax planning and estate planning. By outsourcing some asset management, that’s a reachable goal.
According to another study, advisors who have more time to nurture clients and prospects bring in $1 million more in revenue over 10 years. That study also indicated that advisors who outsource add $14.5 million to their assets annually, double what in-house investment managers add.
A recent study indicates that 84% of firms and advisors who outsourced operations to specialists reported that they’d had a successful experience. They reported that outsourcing:
Empaxis offers you a proven asset management outsourcing solution with TAMP1. This platform provides wealth managers with comprehensive, cost-effective middle-office and back-office outsourcing that aligns with your specific processing, allowing you to scale with efficiency and ease.
Now, you don’t have to worry about technology with a partner in operation management. TAMP1 will give you cost savings and time savings. We’re experts at resolving reconciliation breaks, dealing with more complex reporting requirements, including separately managed accounts, and more. We do the work in the off hours so you can have a better result.
We work with data feeds from over 2,200 custodians and financial firms, including Goldman Sachs, Morgan Stanley and Merrill Lynch.
Empaxis can offer your money management firm: