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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...

Understanding IRA Beneficiary Options

The death of a spouse or loved one is a stressful event. In fact, according to the Holmes and Rahe Stress Scale developed by psychiatrists Thomas Holmes and Richard Rahe, the death of a spouse is the most stressful event a...

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2013 Ends on a Record Note

When our advisors succeed, we succeed. That’s what happened in 2013, as assets under custody at Trust Company of America grew to a record $13.2 billion on an increase in new client arrangements and rapid growth of current RIA clients.
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2014 RIA Roadshow: Coming to a City Near You

The RIA Roadshow took its inaugural program to six cities in 2013, with great results. A total of 86% of attendees at the Pittsburgh event said they were extremely or very likely to recommend future Roadshow events to other advisory firms.

The 2014...

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Household reporting functionality in Liberty

Liberty Platform: Now Featuring Household Reporting

Do you work with multiple people in the same family? Do any of your family clients have multiple accounts? Have you ever wished you could view all of the account information for a household in one convenient, easy-to-navigate menu?

If you answered yes to these questions, you might be...

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