For Advisors Who Try to Do It All

financial advisor thinking

None of us have enough time to do everything presented to us; we all have only 24 hours.  So, the problem isn’t time management but rather activities management.

This applies meaningfully to investment advisor/entrepreneurs who attempt to cover all areas of investment servicing, even those where they are not fully equipped with resources and expertise.

This has significant repercussions in lost productivity.  The essence of effective practice management is to concentrate on those areas of an advisor’s practice where he or she is most effective and which rewards best financially.  Subcontract all else and practice income will rise.

Liability will also decrease by doing this as mistakes often occur in areas where we are least capable, and which present too many moving parts to be properly managed except through specialization.  We are a regulated industry and penalties for mishandling can be large.

Providing retirement plan services looms large as an example and institutional services to endowment and nonprofit funds present opportunity for revenue but only if the advisor is experienced, knowledgeable, and structured to navigate effectively in this market.  Both opportunities are described below along with how our firm can assist you in maximizing your reward and minimizing your risk in these two essential practice areas.

Fragasso Financial Advisors partners with advisors to help provide these services as an extension of the resources you provide to your clients, all while being respectful of your existing relationships.

Retirement Plan Services

  • Dedicated Team & Resources – Fragasso has a dedicated support team focusing exclusively on employer sponsored retirement plans. Together, with our centralized portfolio management team, we provide hands-on investment management with no proprietary products. We have established relationships with the highest quality retirement plan recordkeepers and administrators.
  • Customized Plan Design – There is no “one size fits all” solution, so we seek to understand the unique goals our clients have for the plan. We illustrate how the plan aligns with their goals, gaining client confidence. We provide consistent annual oversight to review the current design and proactively make any needed change or updates.
  • Education and Communication – We work with our clients to structure an education strategy unique to their needs tailored to the needs and demographics of their workforce. These meetings are provided in group or one-on-one settings, and we are available to answer their questions, thus removing this burden from the company owners and controllers.

Institutional/Non-Profit Advisory Services

  • Our Structure – Fragasso acts in fiduciary capacity. We are fee based and not driven by commissions, and we do not utilize any proprietary products.
  • Team Collaboration – Fragasso has a dedicated Institutional/Non-profit team consisting of financial advisor along with analytical and administrative support. Additionally, Fragasso’s in-house portfolio management team develops and oversees the investment portfolio. We do not outsource this work.
  • Client Experience – Fragasso’s codified Client Experience assures a consistent application of resources on behalf of our clients. Each step is tied directly to a functional and beneficial outcome. These outcomes are framed by the client’s unique goals, objectives, and expectations. We guide non-profit clients in creating/reviewing Investment Policy Statement (IPS) documents.
  • Fee transparency – Fragasso Financial Advisors’ management fee is based on the aggregated value of assets for which we provide investment advisory services. This covers all services provided by our firm and is our only source of compensation. For our nonprofit clients, we discount our standard fee schedule by 25% from our traditional fee schedule.

How can Fragasso help provide uniform quality assurance for your practice in these areas?

Let’s talk more