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The traditional RIA business consists of four basic components: back-office functions, compliance, money management and sales. All of these functions can be outsourced to other firms. The best RIA firms spend 60-80% of their time in client-facing activities so they can drive growth. What RIAs need to decide is which functions to outsource to allow more time for client-facing work—and thus more opportunity for growth.

Mike Lover, Vice President of Process Improvement for Trust Company of America, reviewed some of the options in a recent Genius Session.

Back-office functions are easily outsourced, he says, but the cost of labor to do them is relatively low compared to the cost of outsourcing. Managing back-office functions in-house may be more cost effective, particularly if combined with effective technology systems that allow for greater scalability. Some RIAs choose to outsource compliance to vendors like RIA In...

Best Practices for Managing Small Accounts

Most RIAs have grappled with the question of how to manage small accounts in a way that is efficient and profitable. In its latest Trend Advisor paper, “Small Accounts, Big Opportunities,” Trust Company of America addresses some of the...

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There's an App for That

With more than 1 million apps in the Apple App Store and an equally staggering number of applications on the Android market, it’s...

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ETF Trading Options that Fit Your Needs

Advisors are using exchange-traded funds (ETFs) more than ever. RIAs’ use of ETFs rose 27% annually over the past five years,...

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Best Practices for Video Marketing

With more than 300,000 financial advisors in the US, independent advisors are increasingly challenged to differentiate themselves from the crowd.  

Video, produced professionally and executed with the care that you put into serving clients, provides a dynamic platform for engaging...

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