Non-value-added tasks that steal hours from your day and money from your wallet
Imagine how much you could accomplish if there were no deadlines, schedules, or sleep. The reality, however, is that all of us work hard to juggle everything. After all, time is money. With a limited amount of hours each day, it is vital to make the most of every minute. By making a list of the tasks you work on during the day, what things are eating away at valuable time?
Thinking of cloning yourself? There is no need to get nervous about maintaining the business. If you are like most advisors who have taken the leap to independence, these are some administrative burdens you are focusing on instead of spending time with clients:
- phone calls and e-mails
- investment research and management
- trading and rebalancing portfolios
- understanding requirements for Cyber Security
- linking data feeds for account aggregation
- staffing and performance reviews
- preparing documents, fliers and 13F reports
- financial and estate planning
- compliance and regulatory requirements
By now, you may realize that these administrative tasks are depleting the majority of your time and energy. How is your business going to grow if you are drowning in administrative distractions? Wouldn’t you rather invest your time in building relationships with clients, and spending more time with family?
Services and Support
Take a moment to consider this – services are available to you, and today’s technology opens even more opportunities and support for your business. Third party providers are skilled at what they do, which is why Dynamic Wealth Advisors and other solution providers partner with firms that offer the best support for advisors.
It is not necessary to control and become entrenched in all aspects of your practice for it to be successful. In fact, the result may be loss of client relationships and practice success. If you were watching an hourglass, only so much sand could drop – are you maximizing productivity, or slowly losing it? Remember, time is a precious commodity. Core business operations can be performed by experts so you have the freedom to develop a sustainable business.
To maximize the value of your business and begin growing without limitations, concentrate on what counts. With partners who understand and share your goals, the scalable enterprise you dreamed of is truly within reach. For optimal practice development, consider what you do best and let someone else handle the rest.