Options to Outsource Your RIA Operations

Managing operations is one of the most time-consuming aspects of running an independent advisory firm. Developing workflows and automating systems can help you streamline important tasks, but as you continue to grow, you might decide that the time has come to seek outside help. Eighty-five percent of RIAs outsource some technology tasks, while 83% outsource some compliance, according to Schwab’s 2025 RIA Benchmarking Study. ¹ Third-party providers can assist with RIA operations outsourcing, allowing you to devote more time to serving your clients.

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Benefits of Outsourcing RIA Operations

Outsourcing can offer numerous benefits to advisors, whether they’re just getting started or already have an established business. Time savings is at the top of the list. According to Fidelity’s 2023 RIA Benchmarking Study, advisors who utilize investment outsourcing add nine hours back to their schedules each week. ² That’s precious time that could be used to refine marketing strategies, develop new service offerings or communicate with clients. 

You might consider outsourcing some or all of your RIA operations if you:

• Are ready to transition to an independent RIA model and need help building the foundation of your business
• Would like to redirect your focus toward growth activities such as recruiting and hiring new talent, attracting new clients, or strengthening relationships with your existing client base
• Want to increase your firm’s productivity and efficiency, while also controlling costs
• Are interested in upgrading your firm’s tech capabilities to better meet the needs of your clients
• Would like to dedicate more time to expanding your services

The company you outsource RIA operations to may offer other benefits as well. For instance, you may have opportunities to expand your network, which can help build community. Once you’re ready to exit the business, your provider may also assist you with creating a workable succession plan.

Outsourcing allows for flexibility since you can choose which provider or providers to work with, based on your needs. If you find that a business relationship no longer serves those needs or that the level of service falls short of expectations, you have the freedom to choose a different company to work with.

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Which RIA Operations Can You Outsource?

Client Services

Your clients are central to your success, and offering superior service is a proven way to retain them. Activities a third-party provider might help with include:

• New client onboarding
• Creation of secure client dashboards or portals
• Customer relationship management
• Know Your Client (KYC) compliance
• Client communications and support
• Scheduling and appointment management

Outsourcing this support could make sense if you’d like to spend more time on portfolio management and less time on paperwork.

IT Services

Many successful advisors recognize the value of a comprehensive tech stack, but they may be unsure how to build it themselves. Outsourcing IT services may be a logical step if you’re not tech-savvy or don’t want to put the burden on a member of your staff.

IT outsourcing can help you build the tech infrastructure your firm needs to grow. That can include:

• Website development
• System monitoring and management
• Application management
• Cybersecurity services

That last service is especially relevant to compliance. In 2023, the SEC adopted final rules introducing new cybersecurity requirements that registered investment advisors must adhere to. The rules are designed to help RIAs manage cybersecurity risks while increasing transparency surrounding cybersecurity incidents in the financial services industry. ³

Compliance

Registered advisors are subject to a multitude of compliance rules, both at the federal and state level. Failure to maintain compliance can result in penalties and potentially damage your firm’s brand reputation and value.

Responsibility for compliance falls on the chief compliance officer (CCO), but outsourcing means you don’t have to manage it alone. You can work with a dedicated outsourcing team to handle compliance functions, such as:

• SEC or state registration filings
• Form ADV updates
• Conducting marketing reviews
• Establishing written procedures for business operations
• Developing a compliance program
• Choosing and implementing compliance software solutions
• Responding to document requests

Your provider can also assist you with meeting requirements for compliance audits if you’re required to complete one. A mock compliance audit can help you prepare for the real thing when SEC examiners make an appearance.

Front, Middle and Back Office Tasks

The front office is the client-facing part of your business, while the back office encompasses many of the primary tasks that go into keeping operations running smoothly. The middle office acts as a bridge between them. Some of the things you may outsource in the front, middle and back office include:

• New client onboarding
• Employee payroll and benefits administration
• Accounting
• Background checks for new hires
• Client billing
• Performance reporting and analysis
• Trade management
• Client chat support
• Communications management

You may work with a service provider that bundles client and employee support services into a single package or contract them separately. AI agent services may help with some of these tasks. Agentic AI refers to autonomous systems designed to follow specific prompts or commands and generate responses. For example, you may use an AI chatbot to handle prospect or client questions on your website.

Portfolio Management

Outsourcing asset and portfolio management might appeal to you if you’d like to spend more time on financial planning. Turnkey asset management programs (TAMPs) can handle:

• Trade execution
• Portfolio construction
• Modeling and simulations
• Investment research and analysis
• Rebalancing
• Tax-loss harvesting

In addition to saving time, outsourcing portfolio and asset management can help you deliver better solutions to clients as you grow your book of business.

Marketing

A well-rounded marketing plan can help drive new clients to your business. Your marketing plan may include:

• Promoting your firm on social media
• Building authority with a professional website or advisor blog
• Conducting PR outreach
• Collaborating with financial influencers
• Email marketing
• Direct mail marketing
• Digital ads, including Facebook ads and Google search ads
• Local advertising

The challenge is deciding which avenues to pursue to drive results. If you have limited knowledge about marketing, you may outsource this aspect of your business operations to a professional marketing company. A digital agency can create a marketing plan that’s tailored to your firm’s needs and the clients you’re trying to reach.

You may also opt to partner with an advisor marketing platform like SmartAsset Advisor Marketing Platform (AMP) for automated marketing and lead generation. This subscription-based service gives advisors the tools for nurturing leads, including automated email, text and call features. Schedule a free demo to learn more about how you can use it to elevate your marketing.

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Choosing an RIA Operations Outsourcing Provider

When you’re ready to outsource RIA operations, take your time to research different providers and the services they offer. Examples of companies that assist with RIA outsourcing include:

• LPL Financial: LPL offers business support and growth solutions for advisors who need assistance with administrative tasks, marketing and bookkeeping. Paraplanning and tax planning services are also on tap.
• FMG Suite: FMG Suite focuses exclusively on marketing for advisors who need help building a visible brand, creating content and promoting that content to their target audience. Advisors can work with a Do It For Me concierge to get a comprehensive, made-for-them marketing plan. 
• FocusPoint Solutions: FocusPoint works with RIAs in various stages of growth to provide back office support services and practice development strategies. Solutions span everything from business planning to technology to the client experience. Plans are tailored to the unique needs of individual advisors and where they are in their professional journey.
• SmartAsset AMP: We’ve mentioned SmartAsset as a marketing tool already, but it’s worth repeating its potential utility as a lead generation tool. Firms of all sizes use SmartAsset to match with 50,000+ vetted leads monthly. AMP subscriptions also come with outreach automation features that may help advisors contact and stay in touch with leads throughout the sales process. Advisors can now also automate the creation of custom newsletters on a thousands of financial topics.
• Empaxis: Empaxis assists with outsourcing solutions for breakaway advisors and startup RIAs. Services revolve around operational and technology setup to help create a solid infrastructure for middle- and back-office needs.
• Vestmark: Vestmark offers a comprehensive suite of outsourcing solutions for RIAs, specifically in the areas of operations and trading. This particular platform is built for larger firms with AUM of $5 billion or more. If you’re a smaller, boutique firm or are starting an RIA with $0 AUM, you may want to consider a different solution. 

These are just a handful of options but they demonstrate what’s possible with RIA outsourcing. It’s important to take your time to find the right match, since your provider will play an integral part in helping you manage operations.

Some of the things to consider when selecting a provider include:

• Range of services offered (and which ones you’ll actually use)
• Contract structure, as some providers may require a specific time commitment while others may allow you to contract services month-to-month
• Support and response times if you need help or have an issue
• Alignment and integration with existing systems, workflows and/or software tools
• Pricing, particularly as it relates to the added value you stand to gain

Ask questions and consider how transparent a provider is when answering them. If you need recommendations for outsourcing platforms, you may consider tapping members of your network to ask who they use.

Frequently Asked Questions

Bottom Line

Outsourcing some or all of your RIA operations is an adjustment that may take some time to get used to if you’re accustomed to being more hands-on in the running of your business. But once you see how outsourcing can benefit your firm, you may wonder why you didn’t consider it sooner.

Tips for Growing Your Advisory Business

• Marketing is an essential part of your business, but if you don’t have a lot of time to spend on creating promotional campaigns or tracking analytics, you might be interested in a streamlined solution. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
• If you’re on the fence about outsourcing, consider your goals. Do you primarily want to attract high-net-worth clients, increase revenues, or are there secondary factors at work, like a need to improve work-life balance? Evaluating what you hope to get from outsourcing RIA operations can help you determine if it’s the right move for your firm.

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