Top five reasons to outsource your asset management
Outsourcing portfolio management and utilizing a turnkey asset management program (“TAMP”), or centrally managed portfolio strategies, can offer financial advisors many benefits. There are key considerations to weigh during the decision-making process for using a TAMP. These include improved and efficient business operations and a higher level of investment management, which may ultimately lead to greater client satisfaction and business success. Golden State Asset Management (“GSAM”), a program offered to Golden State affiliated advisors, provides a TAMP which utilizes industry leading asset managers to offer portfolios designed to match all stages of the investment journey. While all TAMPs are not created equally, your due diligence is necessary to understand which program is right for you. Let’s dive a little deeper into these considerations.
Efficiency: A TAMP provides a ready-made, efficient solution for managing your clients’ portfolios. This can save you time and resources, allowing you to focus on building your client relationships and growing your business.
Scalability: A TAMP can be scaled to accommodate a growing client base without significantly increasing operational complexity. This scalability may also lead to cost efficiencies. Scaling your practice can yield increased revenue for you, and significant time savings as well.
Administrative Support: Utilizing the TAMP allows others to handle administrative tasks such as regulatory requirements, compliance, trading, and reporting for you. Freeing up your time to focus on strategic client engagement is where your time should be spent to grow your client base.
Diversification and Risk Management: TAMPs typically offer a wide range of investment options, including diversified portfolios that are tailored to a clients’ risk tolerance and financial goals.
Professional Expertise: TAMPs conduct extensive research and due diligence on investment options, helping advisors select appropriate investment strategies and products. The complex work of investment research, portfolio construction, volatility management and ongoing market monitoring is done for you, so you are empowered to help clients reach their goals.
Advisors and investors should carefully evaluate TAMP offerings to ensure they align with their specific goals, preferences, and regulatory requirements. Golden State’s purpose built TAMP seeks to empower advisors with tools and research to help optimize their business’ investment process. As an added benefit, TAMP participants have access to custom branded marketing materials, marketing support and trading support to reinforce their business from every side. Additionally, GSAM claims compliance with the Global Investment Performance Standards (“GIPS®”)¹, which are ethical standards for calculating and presenting investment performance.
To learn more about becoming a part of Golden State’s community of advisors and understand how our turnkey asset management program can benefit your practice, contact us for a confidential conversation today.
¹GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.