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Functions Outsourced by Advisors
Functions Outsourced by Advisors

RIA Trend Report: Functions Outsourced by Advisors

Taxes remain the most commonly outsourced function by advisors.

Taxes remain the most commonly outsourced function by advisors. Given the expertise and professional requirements for tax preparation and filing, it comes as no surprise that 43% of respondents always outsource it and another 14% farm it out most of the time. Other functions more likely to be outsourced include compliance and bookkeeping, both of which tend to be necessary, but behind-the-scene activities, with less direct linkage to the customer experience. Marketing, research, and trading are outsourced by only a small percentage of firms, and those that do, generally do so only occasionally. As functions generally viewed as core components that support the overall service offering, they are risky to outsource entirely. Overall, we observe that RIAs are most likely to outsource those activities that are not as critical to the client relationship or the long-term. 

Next Part 6 of 9: Trends in Functions Outsourced: 2014-2016

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