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Outsource Your Admin

07:30AM Mar 24, 2009 in category Tip of the Day by AdvisorMax

Outsourcing [the administrative aspects of creating financial plans, such data entry and note transcription] is a way to gain efficiency without adding overhead. --Wendy Kawolik

Wendy Kawolik, president of One Advocate Group, advises you to delegate tasks that prevent you from meeting clients and prospects. While she struggled with the decision, once she hired a para-planner she had more time to build her business, and her fee-based revenue increased significantly. If you're not ready to hire staff, you can outsource the administrative aspects of creating financial plans, such data entry and note transcription. Kawolik notes outsourcing these functions is a way to gain efficiency without adding overhead.

-Wendy Kawolik, president of One Advocate Group, in
Practice Tips: Outsourcing

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