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March 16, 2022 at 02:30 PM
What You Need to Know
- Ninety-eight percent of participants who outsource investment management said it allows them to deliver better investment solutions,
- Ninety-one percent said they have achieved accelerated growth in total assets as a result of outsourcing.
- Of participants who do not outsource, 65% cited concern over higher fees and 48% worried about loss of control.
Advisors say their main challenges are scaling their business for growth and spending time on business-building activities, such as financial planning with clients, practice management and new business development, according to a new study from AssetMark, a turnkey asset management platform.
Enter outsourced investment management, which enables advisors to serve more clients and spend time on other business activities.
Ninety-eight percent of study participants who outsource investment management said it allowed them to deliver better investment solutions, and 92% said they were happy with their decision to outsource, up from 83% in the original 2019 study.
Ninety-five percent reported a better work-life balance because of outsourcing, and 91% said they have achieved accelerated growth in total assets as a result of doing so.
“To achieve scale and growth, advisors need to prioritize their limited time on activities that drive the most value,” Matt Matrisian, AssetMark’s chief channel officer, said in a statement.
