At Schroders, we've witnessed how the transitioning to outsourced investment solutions can unlock significant benefits for advisers It's a move that not only simplifies the administrative burden but also aligns with the need to deliver consistent, high-quality outcomes for clients. That said, it's a journey that requires careful planning and execution. Let's explore how to manage this transition effectively.
Before embarking on an outsourcing strategy, you need to step back and evaluate your current business. You must:
• Conduct a thorough audit of your current processes to identify inefficiencies and risks
• Determine whether your firm's resources are better allocated to financial planning and client engagement rather than portfolio management
• Decide whether you prefer a standard solution or a bespoke strategy aimed at delivering better client outcomes. Bespoke strategies are generally more cost-effective for larger firms but may not be suitable for every organisation
Choosing the right partner
Not all outsourcing solutions are created equal, and selecting the right partner is pivotal. Look for a provider who understands your business ethos and shares your commitment to client outcomes. Their investment style, whether active, passive, or blended, should align with your philosophy and your clients' needs. If you require a bespoke or tailored solution rather than a standard offering, ensure that your shortlisted partners can provide this flexibility.
Technology and platform compatibility are also key. Does the provider offer seamless integration with your existing systems? Are they able to deliver comprehensive reporting and insights that enhance your ability to communicate with clients?
Read more on managing the MPS transition and why it is a strategic choice for the future.
Brought to you by Professional Adviser in association with Schroders. By clicking "Click to Read More" you agree to the data protection statement below.
DATA PROTECTION STATEMENT
Your privacy policy – please read carefully:
We set out below how and the basis under which we, Incisive Media*, will communicate with you. In our Privacy Policy we explain how we may use your data.
For subscriptions, events, sponsored content and resources, we will use the lawful basis of 'legitimate interests' and we will use the contact details supplied to us to market to you regarding your trial or subscription, reader research, events and other related products. You will always be offered the option to change your contact preferences. Where you request a whitepaper or content published by one of our third party partners or attend a sponsored event which Incisive Media hosts, we will identify the third party or sponsors to you at the time and then pass on your contact details to them. They will contact you directly and their use of your data will be governed by their own privacy policy. Events may attract additional sponsors after bookings have opened and after the date you have signed up to attend, but we will identify all sponsors to you by email before the event.
