Outsourcing to Grow: Is a Virtual Administrative Assistant Right for Your Practice?
As competition for investor assets increases in intensity and advisory margins shrink, the imperative to grow a practice has never been so urgent. Yet, growth does not come without its costs as advisors hire staff and invest in technology to meet the service demands of an expanding client and asset base. What is a […]
To view the full article please register below:
Outsourcing to Grow: Is a Virtual Administrative Assistant Right for Your Practice?
As competition for investor assets increases in intensity and advisory margins shrink, the imperative to grow a practice has never been so urgent. Yet, growth does not come without its costs as advisors hire staff and invest in technology to meet the service demands of an expanding client and asset base.
What is a Virtual Administrative Assistant?
The reason for this paper’s focus on virtual administrative assistant services lies in the uniquely strong correlation of a financial practice’s growth to the volume of the labor-intensive functions of account paperwork, answering phones, and other operational and administrative functions.
The virtual administrative assistant’s responsibilities may vary with the service provider, but generally include scheduling appointments, responding to client requests for documents, basic client assistance on using technology and processing minor account updates. They may also assist with reviewing an advisor’s e-mail, asset transfer requests and effecting major account changes (e.g., beneficiaries).
Signs That You Should Be Considering a Virtual Administrative Assistant
In this white paper— Outsourcing to Grow: Is a Virtual Administrative Assistant Right for Your Practice?—we explore the unique advantages of the outsourcing alternative, focusing on the virtual administrative assistant option, how such a program works in practice and the right questions advisors need to ask of any potential virtual assistant service provider.
