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Why Should a Financial Planner Hire a Virtual Assistant

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There are many reasons why a Financial Planner would want to hire a virtual assistant. In our experience with Financial Advisor clients the two biggest reasons that they employ virtual assistant financial services is a) to get more done and b) to be able to focus on their clients. In this article we will cover how do virtual assistant financial services work, what can a virtual assistant for financial advisors do, and why would a virtual assistant for financial advisors make sense. 

How to Virtual Assistant Financial Services Work?

At Valenta we find staff in locations where resources have the right skill sets to support Financial Planner clients.  We often locate our virtual assistant financial advisor staff in the same service centers we place paraplanners for financial services. Our engagements run month to month and carry very little risk. All our staff report to inhouse team leaders who manage individuals in similar roles. Our virtual assistant financial services can cost one third to one half what in person staff costs. Services can ramp up and down very rapidly and provide a very flexible option for staffing needs.

What Can a Virtual Assistant for Financial Advisors Do?

Virtual assistant financial services provide the most value when they offload mundane and routine tasks from higher paid individuals and fee earners. The right people should always be in the right role. The role of a virtual assistant for financial advisors is to make sure that fee earners are the most efficient and always focused on the highest value work. A virtual assistant for a financial advisor can handle all client onboarding and ongoing monthly and quarterly communications. Providing meeting summaries and upcoming meeting agendas can also be completed by an admin.  They can update any CRM used by a practice as well as other databases used in a practice or by the institutions providing financial instruments.

Why Would a Virtual Assistant for Financial Advisors Make Sense

Besides being able to focus on the most valuable and important work there are other reasons to leverage virtual assistants for financial services. Some of them include taking advantage of economies of scale, speed to implement, expense consistency, not needing to recruit, and outsourcing HR management.

Leverage Economies of Scale through Staff Augmentation

Providers of staff augmentation are specialized and have critical mass. They have infrastructure in the form of service centers with hundreds of staff working in them. Virtual assistant financial services providers like Valenta have easy access to talent. They are also located in countries where there are young and well educated people looking for jobs. Being able to ramp up is easy when working with service providers like this.

Speed Up Staffing with Outsourcing

Virtual assistant financial services providers are able to provide admins quickly. They have made the investments up front to operate quickly and efficiently. Often there are people on staff ready to assume roles. If people are not immediately available positions can be filled rapidly because service providers are constantly recruiting and have a steady pool of candidates.

Get Expense Consistency with Flexible Agreements

Costs and charges are well defined up front when working with a supplier of virtual assistant financial services. A job description, and scope are always defined ahead of time and a competitive and mutually agreeable fee can be established. Rates are typically set, locked in, and do not fluctuate. These defined expenses let organizations and Financial Planning practices focus on other priorities.

No Need to Recruit Saves Time and Effort

Let’s face it, recruiting can be a headache. Business owners who have done recruiting know how much time it can take to do it well. It is time consuming. Recruiting comes with risks and not every candidate hired works out. Using an outsourcing service not only outsources the worker but all the recruiting that comes with it. Staffing and outsourcing service providers are professionals at recruiting. They are engaged in the process every day of the week, and every week of the year.

Outsourced HR Management Reduces Headaches

Just like recruiting the staff and resources are the responsibility of the service provider, virtual assistant financial services also offload HR management of virtual assistants for financial advisors. After a client helps with onboarding the service provider manages the resources and trains backups for any potential future staff additions or replacements. HR process and strategy is already in place with virtual assistant financial services.

About Valenta

Valenta has considerable experience with outsourcing, and we have many Financial Planner clients. We help countless businesses acquire needed skills that may be difficult to find and also fill their open jobs economically. We help increase our clients revenue and profitability plus productivity and efficiency with our staff augmentation services. To read more about all the different roles we provide for staff augmentation please visit our main page for this. To learn more specifically about our paraplanner and virtual assistants for financial planners this page has lots of good information. For additional details about our virtual assistants for any industry please visit this highlighted page.