Clearing Financial Advisor’s Biggest Hurdles

Nov 4, 2022

Simply put, our goal at Buckingham Strategic Partners is to solve the problems financial advisors face on a daily basis. Like many “TAMPs”, we offer evidence-driven investment models, back-office support, portfolio management software and reporting, practice management and marketing support. But that’s only our warmup. Every day, we strive to bring industry leading services to the table to better serve your clients.

Through extensive research, decades of hands-on experience helping thousands of advisors and the wealth of knowledge of industry think tanks, our team has identified three of the most common challenges advisors face. By utilizing Buckingham’s vast resources, we believe you can clear these hurdles, help more clients and fall back in love with your job.

Challenge: #1 Limited Time

At Buckingham, we believe the biggest single factor differentiating good advisors from great ones can be summed up in a simple equation: Time With Clients equals Advisor Success, or TWC=AS.

So how do we free up more hours in your week to accomplish this?

I like to answer this question with an analogy. In a primary care office, the physician isn’t responsible for answering the phone, servicing the equipment, billing or scheduling appointments. Their team handles these necessary tasks so the doctor can focus on what they do best – caring for patients. The same is true at Buckingham. Our team supports the daily demands of running your business by taking detailed back office administrative duties such as trading, transfers, distributions, reporting and billing off your plate so you can focus on serving and seeing your clients. In addition, our evidence-driven investment style, advanced planning support team, wealth of resources and professionally created content can also free up further valuable hours. When a tough problem arises, advisors love that they can pick up the phone and our team will help resolve it.

Now that you have time back in your day, what do you do with it?

Our partnership allows you to focus on developing meaningful, personalized client relationships and higher value activities. By asking the right questions and learning what truly makes your clients tick, you can develop a customized financial plan tailored to their needs. It’s a win for everyone involved!

Challenge #2: Managing Investments, Not Clients

Continuously searching through tens of thousands of mutual funds, ETFs and investment strategies may not be the best use of your time. Buckingham takes this task off your plate. We also know your clients trust you with their life savings; they deserve a peer reviewed, evidence-driven asset class investing approach. Buckingham provides this to you. Our methodologies help us create customized, globally diversified portfolios with you. We eliminate the guesswork and speculation of active money management, help you build and maintain custom portfolios that seek to capture the returns of global stock and bond markets and mitigate taxes. But most importantly, we work to help your clients reach their long-term goals. In addition, our Asset Class Investing is based on decades of data, the work of Nobel Laureates and insights from behavioral finance and leading academics.

Challenge #3: Inconsistent Client Issue Diagnosis

Your clients are standing at the intersection of life and money. No matter where they are headed, every journey begins with a solid roadmap. That’s why we believe that a thorough process of discovery is required to get to know your client’s problems, hopes, dreams and values. Without this understanding, a financial plan is empty. To begin, I recommend you mindfully build a list of questions you need to know about your clients. Ask open ended queries revolving around family, life and money with empathy. Our time saving Design|Build|Protect™ process will help you unpeel the layers of your client’s problems, fears, challenges and goals. With ongoing practice management coaching, best practice education and FeedForward guidance, clients benefit from personalized plans designed to continually keep them on the right path.

Do you struggle in any of these three areas?

Buckingham would love to help you provide your clients with the best experience possible. Do yourself – and them – a favor by scheduling a conversation with a regional director.

About the author: Alex Potts

Alex Potts sits on the board of directors for Buckingham Wealth Partners, while also serving as president of Buckingham Strategic Partners. As president, he focuses on forward-looking strategies, vision and growth for our Turnkey Asset Management Platform (TAMP) business. He considers it his mission to help individuals and families reach their financial goals.

For informational and educational purposes only and should not be construed as specific investment, accounting, legal or tax advice. The opinions expressed by featured authors are their own and may not accurately reflect those of Buckingham Strategic Partners® R-22-4580

The post Clearing Financial Advisor’s Biggest Hurdles appeared first on Buckingham Strategic Partners.

Recent Articles

Buckingham’s Leadership Team’s Book Recommendation

This holiday season, if you are looking for a book recommendation for your favorite bibliophile, yourself, a family member, friend or colleague, Buckingham’s Leadership Team is spreading the cheer by sharing a few of their recommended reads. “My father shared a copy...

Inherited an IRA? Here’s Why Planning Distributions Early Matters

Those who have inherited an IRA since 2020 may be finding it a challenge to keep up with evolving account distribution requirements and IRS messaging. Distribution rules the IRS proposed earlier this year only added to the confusion. Below are some common questions...

The Great Retirement Debate

In his latest venture, Jeff Levine has teamed up with financial heavyweight Ed Slott of Ed Slott and Company to launch a brand new, consumer-friendly podcast, The Great Retirement Debate. In each episode, Jeff and Ed will go head-to-head knocking out critical topics...