Think about the number of requests you receive from clients that have nothing to do with your services and you have to say no.
Think of being able to say "yes" when the request is a bit out of your domain. Jos-Phar is not a concierge but we do assist professional advisors in these untouched areas.
Are you a:
Certified Financial Planner?
Certified Public Accountant?
Registered Investment Advisor?
Estate Attorney?
A recent FPA report on financial advisory practices revealed that growth of the solo and small CFP practice
severely impacted profits and degraded efficiencies.
Question: Why?
Answer: Staff additions (administrative,technical) increased overhead and dramatically increased the need for incremental revenues to maintain profit margins.
Solution:
>> Increase profitability, hire Jos-Phar.
>> Outsourcing will enable you to build client relationships by allowing you to spend more time with your clients.
>>
Build an electronic "virtual" office that does not depend on in house staff
with its attendant costs (and problems). It's a lot of work managing
personnel.
>> You may not be able to do business from a beachfront (except with a really
good laptop)
but the possibility does exist with a virtual office.
>> No one is great at doing everything. Be productive and do what you do
best, outsource the rest.
Outsource, obtain qualified help from dedicated entrepreneurs like
yourself who
know there is no success without pleasing the client. We can
help you manage your practice
and service your clients. Termination? At will, just send an email.
No unlawful termination/discrimination lawsuits, no hassle.
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Increase your offerings to your clientele. Consider offering financial planning and investment management, by acquisition or by partnering with CFPs and RIAs. Allow us to set up the relationships.
The Uniform Accountancy Act revisions allow this with no conflict of interest present. There are ways to earn your clients' trust for your advisory work (despite their distaste for commissions) as for your accounting work.
>> Shoebox Accounting Services can allow you to sign clients that ordinarily would not
be cost effective. Through
electronic technology, we can accelerate the data gathering, data entry
and get the books up to date. We can
stay on as Virtual Controller or we can train/monitor the client's
activities throughout the year and
have current accurate figures for year end tax preparation.
>> You maintain the client relationship, we work for you to benefit your
client.
>> If you wish to keep the advisory practice inhouse, form another entity to
segregate the two disciplines thereby
avoiding the different compliance requirements. (We know a bit about the
front and back office of a Wealth
Manager).
>> Outsourcing will free up your time to cultivate deeper, more encompassing
relationships with your
current clients.
>> Studies have consistently shown that client retention is ultimately more
profitable than acquiring new clients.
>> Often current clients are never fully aware of all the services your firm
offers and frequently obtain other professional advisors to provide them.
Solution:
Outsourcing will provide you with the extra window of time and
opportunity, keeping costs down, allowing you to take the above steps
making your firm more profitable. "Outsourcing will free up your time to do
more lunches and
less hunches."
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The Hurley 1999 Report has proven true; RIAs will need niches and adding
services that cater to high net worth clients is one profitable niche. If you don't offer something akin to wealth management services, "family
office" type services, you will not stand out.
Bessemer Trust tells a story of the Grandmother in sneakers and grandson
who stopped in to chat about their services. A rainy day precipitated an
offer for a car to their current advisor. Hours later, they were back to
talk about the transfer of their 100 million account to Bessemer simply
because they offered a car and the former advisor did not.
>> Outsource your non-core activities enabling you and your staff to offer
those extras that wealthy clients demand.
>> Jos-Phar has extensive experience in front and back office RIA operations.
>> Jos-Phar can also provide some of those "extras" that the high net worth
client has come to expect of their financial advisors.
>> Grow at a controlled pace without dramatically increasing your overhead.
Solution:
Hire Jos-Phar, experienced in the functions of a Registered Investment Advisor.
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Recent studies have revealed that high net worth clients value the advice
of their attorneys and CPAs most of all.
Clients require a large amount of handholding. Outsourcing will give you that extra time you need without sacrificing
your family and lifestyle. Jos-Phar is familiar with the workings of a law office having serviced a
large NYC patents and trademarks law firm.
Solution:
We can help you manage your office and service your clients. Jos-Phar has the expertise and technological know how for the
virtual office you need.
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