Now that Lou Dobbs and other T.V. talking heads have mellowed on the outsourcing hysteria circa 2004, a sober look at the strategy, especially when it comes to the broker-dealer back office, is yielding positive results in efficiencies and cost containment.
TrustFort, a Woburn, Mass.-based provider of technology and back office solutions, is one company taking full advantage of the phenomenon. Founded in 2003, it specializes in working with independent broker-dealers to provide turnkey portfolio accounting systems and service teams.
TrustFort’s competitive advantage in an increasingly crowded space is its flexibility and customization capabilities, Atindra Barua (left) told AdvisorOne in a phone interview on Tuesday.
“Most of our competitors offer a standardized solution, rather than what we call a focused solution,” Barua said. “They bundle their offerings; we break out different pieces to fit a particular firm’s needs.”
And because of their offshore back-office operations, they cost less than competitors, he adds, savings they pass on to customers.