There is a lot to be said for running your own business. Whether you are starting out as an entrepreneur or seeking independence after being with a firm for an extended period, it is worth the effort.
Fortunately for financial advisors seeking independence, it can be an easier transition if you are open to partnering with a firm who can provide technical resources and infrastructural support. Such an arrangement can allow you to benefit from the resources of a large firm at scale, while maintaining or establishing your independence. A win-win situation that can help you grow your business.
As an independent advisor or someone running a practice of advisors, we know there are necessary, yet less productive, responsibilities to maintaining your business such as portfolio research, operational functions and marketing. Virtual assistant services for Financial Advisors can be utilised to manage these assignments. But can you accomplish your desired growth while being bogged down with those tasks? With a comprehensive partner, you can focus on clients, vision and growth with the support of additional resources and consulting available to you. Such an arrangement can provide support in the areas of:
- Technology Systems
- Portfolio Management
- Operational Processes
- Compliance Oversight/Procedures
- Marketing
Your independence is important and plugging into an associated advisor model as just described should help you grow as an advisor, but it also needs to be a cultural fit. The resources listed here, and more, are offered through Fragasso Financial Advisor’s associated model, Fragasso Partners. They include a vast list of resources and ongoing support to their partners, as well as a committed effort to making the transition and onboarding experience as seamless as possible. There are dozens of options when it comes to selecting a partner like this, but not all arrangements are the same. Be sure to evaluate more than just the cost/fee arrangement.
A Tested, Proven Model
What took Mr. Fragasso decades to build, can now be accessible to those willing to partner with the firm. A model like this allows independent advisors to provide value to their clients in the marketplace. It also gives advisors peace of mind when support is needed for complex financial planning situations.
This year marks 25 years of independence for Fragasso Financial Advisors’ founder, president and CEO, Robert Fragasso. He started as a sole practitioner in 1972 and eventually became a registered investment advisor in 1996. Currently, the firm employs nearly fifty professionals and has over $1.8 billion in under management and non-advisory assets combined.
To recognize this 25th anniversary, the firm is producing a monthly short-form video synopsis on how the firm was built and evolved into the award-winning company it is today. Look for these monthly segments on Fragasso Financial Advisor’s LinkedIn page and in their video library.
For all financial advisors, whether independent or considering that path, the most effective use of your time is helping your clients realize their short and long-term strategies and to create a path to work toward their goals. Through the right partnership, the support and necessary resources are completely accessible.
