6 Secrets to Organizing Your Portfolio Management Services

1. 6 Secrets to Organizing Your Portfolio Management Services Image Source: FreeImages Portfolio management services in India is an essential service that helps financial advisors manage risk and identify opportunities for growth in their client portfolios. But this essential service can be challenging to implement and maintain the quality of service that your clients expect from you. More importantly, it’s another service that requires a significant amount of attention to detail using manual processes for implementation, tracking, reporting and more. You might think that there are only so many ways to organise something as seemingly small as portfolio management services. However, let’s break down what we mean by “organising” here. It isn’t just

2. about where you put things or what desk you keep them on. Those are logistics — a different element entirely. Here are five secrets to effectively organising your portfolio management services, so that they not only make sense but also help you achieve your goals with ease: Define What Success Looks Like Success is different for every financial advisor and their clients. However, before you can manage your portfolio in the most effective way possible, you have to clearly define what success looks like for your business. What metrics do you use to gauge how effective your portfolio management services are? How do you keep clients informed, engaged and informed? While these may seem like simple questions, they are essential to understanding what truly needs to be organised in your portfolio management services. Only then can you begin to determine where you need to add structure and how you can do it most effectively. Begin by asking yourself these questions and identifying the answers for your business. Establish Governance When you have a structure in place for your portfolio management services, you have governance in place as well. Governance is the guiding principles and procedures that dictate how you conduct business. For example, when clients sign up for your services, what expectations do they have? What communication do you have with clients and when? What procedures do you follow for implementation, tracking and reporting? How do you manage the team that oversees your services? When you have governance in place for your portfolio management services, you have a clear picture of how your business operates. The best portfolio management services In India team knows what to expect, and clients can trust that you will perform and deliver as expected. This is essential — especially as you scale. By establishing governance, you create a clear, documented roadmap for how your services are delivered. This roadmap is essential when you scale up because it allows you to ensure that your portfolio management services are being delivered as expected. Automate Where You Can One of the most effective ways to streamline your portfolio management services is to automate wherever you can. For example, use automated email sequences to welcome new clients, introduce them to your portfolio management services, and track their progress throughout the investment process. This allows you to oversee your client’s portfolios with ease and keep them informed of what’s happening without having to manually track it. You can also automate client portfolio management services to make sure you are consistently delivering the best service possible. For example, you may use a platform like Wealthfront to manage your

3. client’s investment accounts. This can be challenging to keep track of and requires consistent oversight. Any time you can automate a process, you are freeing up time for the work that requires your attention and expertise. There are many ways you can do this. Automate client onboarding, delivery of services and information, document storage and more. Use a Service That Supports Organising Depending on the specific portfolio management services in India you offer, you might be able to use a service that supports organising your clients’ portfolios. For example, Wealthfront offers a service where they will manage the investment of your clients who use their platform. This allows you to focus on what’s important and makes sure your client’s portfolios are being managed effectively. Another example is a service like Trusend that allows you to track the progress of your client’s portfolios, investments and more. This allows you to stay organised and informed without having to manually track everything. There are several services like this that can help you organise your portfolio management services by removing the need for you to do it yourself. Don’t Stop Improving and Adapting Just because you have a structure in place, governance in place and automated processes (where you can), doesn’t mean you are done improving. Every business is different, and no two businesses are exactly the same. You may have one client who requires more attention than another. You may need to adjust the frequency at which you communicate with clients or how you deliver their information. You may need to change your organisational structure over time. Organising your portfolio management services is an ongoing process because every business is constantly changing. For example, you may start out with a simple organisational structure and as your business grows, you may find that you need to change the way you deliver your services. You may need to create new departments, add new personnel, or reorganise your company in order to better deliver your services. This is normal and happens with almost any growing business. You may need to change your organisational structure over time as well. Outsource What You Can't And Know Why Portfolio management is one of the most important services a financial advisor can offer. But that doesn’t mean you have to do it yourself. In fact, there are plenty of ways you can outsource this service and still be effective. You can outsource the implementation of your client’s portfolios. You can outsource the tracking of those portfolios. You can even outsource the communication of those portfolios. Depending on the amount of clients you have and the amount of work they require, you may find it more effective to outsource certain elements of your portfolio management services. There are plenty of ways you can outsource your portfolio management

4. services and still remain effective and efficient. Just make sure you know why you are outsourcing. Don’t outsource because it’s easy; outsource because it’s effective. Conclusion As you can see, there are many ways to organise your best portfolio management services in India. You can start with defining what success looks like for your business, establishing governance for your clients, and automating where you can. Once you have a clear picture of how your services are delivered, use a service that supports organising and doesn't stop improving and adapting. Finally, outsource what you can and know why.