Do you dream of a predictable, work-life balanced financial advisory practice? Many do, but it can seem impossible with all the juggling acts involved. The secret for some? Assets Under Management (AUM). The shift towards AUM has accelerated in recent years, fueled by advisors seeking the scalability and predictability it offers. Turnkey Asset Management Programs (TAMP) are a big part of this, streamlining portfolio management and freeing up your time for client focus and personal life.
What is a TAMP?
A Turnkey Asset Management Program (TAMP) allows advisors to streamline their investment management process and efficiently manage client’s assets.
Imagine a single place where you can access a vast selection of investment strategies, all curated and presented by leading experts. That’s what a turnkey asset management program (TAMP) is; a one-stop-shop for advisors to browse and choose investments. The shop has a wide range of investments offered all under one technological platform. The shop is the TAMP and the financial advisor is the buyer. Advisors can choose from passive, actively managed, and everything in between, all organized by investment strategists and asset managers. Think of it like a high-end grocery store for investments, but instead of produce and meats, you’re picking carefully crafted portfolios tailored to your clients’ needs.
Why do our advisors use a TAMP?
TAMPs can provide greater flexibility while providing you with streamlined statements, account access, investment options, and comprehensive tax reporting for your clients.
There are also several tools within the TAMP that help you run your business more efficiently. Here are a few that our platform, USA Financial Exchange, provides to our advisors:
- Portfolio Analysis: Tailor your client’s portfolio to their specific risk tolerance number and objectively review and compare portfolios across key attributes as you build a customized proposal for them.
- Scalable: Manage client accounts at a sleeve level to create scalability inside your practice.
- Paperless Process: Reduce NIGOs by entering data once and having it populate on all forms.
- Practice Management: View book characteristics, composition, and more to stay informed.
Utilizing a TAMP can give you more time for client engagement and building those relationships all while growing your practice.
Not sure if it’s right for you?
Here’s a couple signs that it might benefit you:
- You want more consistent revenue streams and open to a less transactional approach.
- You're ready to scale your business but don’t have the resources available at your current firm to get you where you want to go.
Recognize any of these challenges in your practice? Exploring and utilizing a TAMP is just one tool in the toolbox that may benefit you. Do your research, define your business objectives, and consult with your peers and experts. We’re happy to be part of your conversation and explore if it’s the right fit for you.
