The Merriam-Webster Dictionary defines the word solution as: the action or process of solving a problem. Using this definition is a helpful way of assessing the benefit of the many investment solutions available to advisers today. Does what's on offer genuinely solve your business problem?
What is the problem?At Dynamic Asset, advisers keep telling us that the time and cost of providing advice keep rising. That increasingly rigorous compliance requires advisers to spend more time constructing statements of advice. That implementation administration is time-consuming and inefficient for the adviser and their clients.
In other words, a lot of time spent does not directly contribute to the value provided to clients. It's a significant direct business cost. There is also an opportunity cost of time lost on growing the business and limiting the business's client capacity.
Therefore, any solution that an adviser implements within the business must allow advisers to:
Most advisers look to various technologies or platforms and increasingly use simple managed accounts. These are good but insufficient ways to solve the time and efficiency problem. A whole-of-business solution is required.
The solution
An example of a whole-of-business portfolio solution is provided by Dynamic Asset. The solution includes:
Importantly, Dynamic Asset also provides a whole-of-client portfolio solution with five individual portfolios that each target specific risk-return targets:
Advisers can access our unique Portfolio Construction Tool to simply and efficiently build bespoke portfolios that meet a range of short, mid and long-term financial goals. The tool enables advisers to provide portfolio solutions that satisfy the very definition of Client Best Interest and therefore provides a robust compliance solution.
Furthermore, the portfolios are implemented using Managed Accounts. This means asset allocation authority is not required once the client has agreed to the portfolio management approach.
The scale and resourcing of Dynamic Asset supports advisers by essentially insourcing specialist skills, knowledge, experience and resources to manage a highly diversified range of assets professionally. These additional resources support advisers by saving significant time in researching the thousands of investment offerings, building portfolios suitable for meeting the challenges ahead, actively managing changes as required, executing trades across all client accounts and providing comprehensive reporting.
Dynamic Asset brings together all the elements an advice firm needs to meet its client's needs in one streamlined and efficient solution, the result of which is a whole-of-business solution for advisers that provides dramatic time and cost savings:
Dynamic Asset can help
Contact us to learn more about how the Dynamic Asset approach to active portfolio management can support you and your team build a thriving advice business.