Why an LPL Advisor and His Virtual Admin Are Celebrating

“We connected and work well together,” DiStefano said. “And every day, we learn how to communicate better.”

As someone “who knows LPL … I came in and did the transactional work, so  Rick didn’t have to worry about any backlog” of paperwork, Thurston said.

“The beauty of this approach is that I am in the background, doing the busy work,” she explained. “Ultimately, this business is about [advisors] growing the practice, not focusing on the operational side of things.”

Working with virtual admins, who don’t have to be hired or paid by advisors, is pretty much “a no brainer,” she added.

Client Issues

For DiStefano, having a virtual admin means “having a business partner who frees up my time.”

After all, he explained, “Advisors can’t waste time pushing paper, or they will lose 65% of the time they need for bringing in referrals and clients.”

But how do advisors and clients feel about Thruston not being in the office? “I know Rick, in the beginning, was hesitant to give all the paperwork over to someone to do and to monitor,” she said.

But after seeing how he could boost his productivity, “He is now an advocate of the program,” Thruston explained. In fact, the duo will be sharing their story at a regional advisor event later this week.

“I don’t really need to have an admin meet in person with my clients, who are like my best friends and family,” DiStefano said. “She is part of this, too, now. And the clients love communicating with her.”

The advisor, who’s been in the business for 35 years, says the two have a “no drama” relationship. “And clients reach out to her directly and vice-versa …,” he said. “It’s an open door … and a win win.”