Have You Considered Outsourcing Your Admin?

Don’t enjoy or have time for parts of your process, you know it needs to be done, there’s people here to help!

If you’re sitting at your desk looking at the admin that’s piling up or you can’t make head or tail of your emails because there are just, well, so many!

Perhaps you need a hand? Even if you run a fair sized financial services business, we know (as well as you), that often, there just aren’t enough hours in the day to sort out the back office stuff. So, you leave it. You might hope that someone else will pick it up (they rarely do) or you promise yourself you’ll book out Friday afternoon to have an admin clear-out, only to find that a client needs an urgent meeting.

What’s your priority? The client. The admin still sits there, grinning at you rather maliciously as it gets bigger and bigger. This is a common problem, for all industries but for the financial services industry it’s not the sort of problem that can be left to its own devices. There are reports to write, emails to answer, spreadsheets to fill in, systems that need maintaining (or everything collapses). You need to get onto it but you don’t want to employ yet another staff member because while the job is sizable, it just doesn’t warrant it.

So What’s Next?

You’re reading this because your admin is getting on top of you but maybe you’re unsure of using an outsourcing service. Most firms, from the smallest to the largest corporation outsource parts of their business so you’d be in great company and certainly can be more cost-effective to do so.

Many firms are intrigued, how can something that costs more per hour be cost effective?

We value feedback from our clients and truly understanding why they choose to work with us (rather than us assuming we know the answers) and also how we can evolve.

Some common benefits they relay to us are; it’s tax-efficient, cheaper than agency fees and it saves on overheads, especially when at the moment, there’s an awful lot of uncertainty out there! Also it is their lost time in training new employees on systems and the industry or paying a premium for previous experience. That’s time they are losing from servicing their clients.

We’re used to working with small and medium sized financial services businesses – with quite a few years under our belts, we know what can work, what might cause problems and are happy to give guidance and advice where we are asked. There’s so much technology and so many providers with their quirky websites within financial services. We have the experience (and lack of hair sometimes) from using these. We also are partners of the main back office systems e.g. Intelligent Office, Adviser Office, Curo and Xplan so there’s a lot less training – that’s another headache taken care of!

Proactive or Reactive Admin Support

A key benefit commonly mentioned is the flexibility of outsourcing, when we work for our clients, we can facilitate a regular, fixed basis, on an adhoc basis or on a project basis so it works around their needs. 

Then of course, we can be proactive too, so you don’t even have to think about your admin (that’s extra head-space right there!), we’ll literally take all of your admin burden away, you get on with what you want to, no more trying to schedule in a few hours here and there and no more dreading the admin either.  Don’t want us to be proactive?  No problem. Outsourcing your admin means we can be reactive too, so when you have a task, a list of tasks or a project just call us in, give us the brief and we’ll tackle it for you.

We like to see ourselves as an extension to your team so we come under your umbrella (so to speak).  If your suppliers or clients want to speak to an administrator, we’ll be YOUR administrator, under YOUR brand name.  For us it’s also about building professional relationships. At this point, you might be wondering what our admin covers, there’s a lot to list, not sure on an item, just ask us. From call answering services to calendar management, online filing system, adding data to back office system, receiving and scanning your post, full back office support (or just a fragment), even income reconciliation.  Added to that list, we can raise invoices, verify clients, prepare valuations – and a whole lot more too. The bottom line is you cherry pick what you want and we’ll get on with it.

Where to start

A lot of the headaches an come from knowing just how to start using a service like ours. We completely understand. Our process is simple a call to get to know you better and outline a simple implementation plan for you. A four week trial where you don’t have to commit to any minimum number of hours and get to just pay for those used. You can trial different types of work to really see where you will gain the most benefit. Our clients love this approach! 

So don’t let the admin get you down, contact one of the Adviser Outsourcing team today.