Use Your Time Wisely--on Clients

Part 1: Use Your Time Wisely--On Clients

Time is a valuable commodity and advisors must choose how to allocate this limited resource.

Sponsored by Raymond James

Time is a valuable commodity and advisors must choose how to allocate this limited resource. For many advisors, client-related activities are the most valuable. In the survey, RIAs report spending the most time on client meetings. Advisors also prioritize client-related activities such as portfolio management, research and client acquisition, over activities such as human resources or back-office operations.

One way advisors can devote more time to client-related activities is to outsource non-client-facing tasks. Popular functions to outsource to third parties include IT support and tax filings—fairly specialized functions that may be accomplished more efficiently by outside professionals. By comparison, less specialized functions such as marketing and research are only sometimes outsourced according to the survey, 30% and 29%, respectively.

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