financial advisor with happy clients

How do advisors want to spend their time? Survey says…

Advisors love their clients and want to focus on serving new and existing clients! A recent survey from fintech company Broadridge Financial Solutions revealed that most advisors really want to focus on serving clients and business development.

    • 62% want to spend more time on client-facing activities
    • 43% want to spend more time on comprehensive financial planning
    • 42% want to spend more time on client acquisition

This doesn’t surprise me one bit. Most advisors I know, including our fantastic team at Beacon Wealth Consultants, want to help their clients find success and peace of mind about their finances. A desire to help people is why many advisors get into financial planning in the first place.

If you are an advisor and wish you could focus more on your clients or grow your business, then you can do one of two things:

    1. Work more
    2. Work more efficiently

As far as working more, we all wish we had more hours in the day! The reality is that we only have so much time each day to work and it is rarely enough to accomplish everything we want. Working more hours is not the answer.

If you want to spend more time with your clients and you are already maxed out on your time, then your best bet is to work more efficiently. Thankfully there are many processes, products and services that can help you work more efficiently in order to focus on what you love.

One of the best ways to work more efficiently is to outsource investment management. There is a science and an art to portfolio construction and management that requires time, expertise, and wisdom to do well. Do you have the time and expertise to be a portfolio manager along with all the other hats you wear?

As Matt Schiffman, principal at Broadridge Financial Solutions, remarked in the Financial Advisor article[1],

“The use of investing models is becoming more prevalent rather than customized accounts. Especially with all that is going on now in the world and the markets, advisors are engaging clients on a holistic level and delegating the investment piece of the service to a third party, which they are overseeing.”

Advisors are finding that outsourcing portfolio management and using model portfolios is one of the best ways to work more efficiently and uphold fiduciary responsibilities.

If you’re considering outsourcing investment management to a third-party, consider our LightPoint™ Portfolios. We have a full-time team focused solely on managing our LightPoint™ Portfolios. Our team has the depth of education and experience to understand the nuances of the financial markets. We are independent and able to seek out the best investments and investment managers for our portfolios. Our faith-based approach to investing is advantageous for clients who seek to align their investments with their faith values.

What would your business be like if you could spend more time focusing on your clients and growing your business? We’d love to help you find out! Learn more here or schedule a call to talk about our advisor services!