Taking the Plunge into Outsourcing Through Technology

Kantor, Andrew
March 2005
Journal of Financial Planning;Mar2005, Vol. 18 Issue 3, p40
Academic Journal
This article focuses on outsourcing in the financial planning business. Regardless of the scope, more and more financial services firms in the U.S. are signing up what many refer to as outsourcing partners to take some of the workload off staff without adding another body to the office--or payroll. The first part of that article talks about how the Internet has made outsourcing things easy. According to author, this is why more and more companies--including financial planners--are turning to outsourcing for more and more of their business functions. The second part of this article examines some of the reasons why several financial planners in the U.S. decided to outsource some of their financial planning business. According to the author, some may have found they had less and less time to be involved with their clients, as their business management overshadowed their business. Others turned to outsourcing to keep up with an expanding client base. And others found that the technology was getting ahead of them, and that clients were demanding things they did not know how to provide. Next, this article discusses how financial planners can find a qualified technology outsourcing company. The last part of this article deals with some of the challenges and issues in outsourcing.


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