Why Advisors Should Be Working with a TAMP

Financial Advisors looking to outsource investment management tasks and streamline operations, may consider working with a Turnkey Asset Management Platform (TAMP).

With the flexibility, streamlined automation, and access to diverse investment options offered with TAMPs, many Advisors recognize the benefits of utilizing these platforms.

What Are the Options?

Many Registered Investment Advisors (RIAs) are looking to grow. Outsourcing has been beneficial to 53% of Advisors, who report that it has enabled them to increase their firms’ revenues.[1]

Small to mid-sized RIAs have several choices to achieve the efficiency they need to grow:

1. Bringing on new staff can be challenging for small firms. Employees often seek career growth, which can be difficult to provide. Also, managing people is demanding and turnover can significantly disrupt an RIA’s operations.
   
   
2. Joining a larger RIA. Merging with a larger firm can provide scale and efficiency, but RIAs are often reluctant due to concerns about losing independence and pride in their self-built business.
   
   
3. While selling their business may help RIAs monetize what they’ve built (and makes sense in today’s active M&A market), many RIAs still have significant growth potential and could further increase their enterprise value before selling.
   
   
4. Utilizing a TAMP. A TAMP can provide small and mid-size RIAs with the scale and efficiency to meet client demands—freeing up time and resources to grow their business and pursue future options on their own terms.

Embracing Technology

Advisors who decide to hang their own shingle generally do so because they enjoy working with clients—not because they enjoy all the backend processes and technology required to run their businesses.

Adopting technology can potentially free up Advisors’ time—particularly with operations and administrative tasks, which account for 45% of their time. Yet only one in 10 Advisors say their firm has all the technology solutions they need.[2]

“To grow their businesses, Advisors need to remain client-facing and spend time on sales and marketing,” emphasizes Tom Romano, Head of Strategic Relationships and Product Development at Symmetry Partners. “The best way to accomplish that is to embrace technology, which plays an integral role in helping Advisors deliver a better investor experience.”

On an average, firms use at least 6.8 different technology solutions[3]. What are Advisors’ biggest pain points?[4]

• 25% – navigating disconnected technology
• 18% – cost of technology
• 15% – rapid evolution of tech

What if everything was streamlined, accessible, and convenient?

A TAMP Built with Your Needs in Mind

The Axiom Wealth Platform is an innovative, comprehensive TAMP designed to enhance Advisors’ productivity and increase operational efficiency. The ready-to use solution simplifies investment management, so Advisors can focus on building client relationships—instead of managing back-office functions.

Symmetry developed the Axiom Wealth Platform to help Advisors scale their businesses and better serve their clients.

“Our comprehensive TAMP can help Advisors streamline operations, freeing up their time so they can focus on building client relationships and growing their businesses,” explains Romano.

“The goal is to keep the independent advisor independent—which will enable them to provide the expertise, advice, and services clients are really looking for,” he adds.

And, to address some of the issues above, the technology stack integrated into the Axiom Wealth Platform enables Advisors to potentially achieve a higher ROI on the technology they’re currently using.

The Axiom Wealth Platform address the key reasons Advisors should potentially work with a TAMP:

1. Growth – creating more time for client-facing activities
2. Flexibility – meeting Advisors where they want to be met
3. Efficiency – combining technology, people, and processes
4. Customization – providing personalization with scale through technology

Interested in learning more? Schedule a demo to find out how the Axiom TAMP can help enhance your business.

Information is intended for Financial Professionals. Symmetry Partners, LLC is an investment advisory firm registered with the Securities and Exchange Commission (SEC). The firm only transacts business in states where it is properly registered or excluded or exempted from registration requirements. Registration with the SEC or any state securities authority does not imply a certain level of skill or training. No one should assume that future performance of any specific investment, investment strategy, product or non-investment-related content made reference to directly or indirectly in this material will be profitable. All data is from sources believed to be reliable but cannot be guaranteed or warranted. 

Symmetry provides this communication on this site as a matter of general information. Information contained herein, including data or statistics quoted, is from sources believed to be reliable but cannot be guaranteed or warranted. Due to various factors, including changing market conditions and/or applicable laws, the content may not be reflective of current opinions or positions. All content on this site is for educational purposes and should not be considered investment advice, recommendation, or offer of any security for sale. Symmetry Partners does not provide tax or legal advice and nothing either stated or implied in this material should be inferred as providing such advice. Symmetry Partners does not approve or endorse any third-party communications on this site and will not be liable for any such posts.

[1] The Race to Scalability 2022, FlexShares, https://go.flexshares.com/hubfs/FS_Race%20to%20Scalability%202022.C.pdf

[2] Advisor WealthTech Survey, Orion, March 2024

[3] The 2023 Fidelity RIA Benchmarking Study, Fidelity Investments

[4] Advisor WealthTech Survey, Orion, March 2024