As a busy financial advisor or plan sponsor, you need help. You could hire a team of in-house assistants to help you, but you would pay significantly to do so. Or, you could try to put more time into your business than you already are. In order to grow your company, you need to expand the reach of your personal services. This often means being able to provide one-on-one support to help sell the employee benefit plan your clients need while someone else manages the bottom line. To do this, hire a third party administrator to help you.
Getting Help Does Not Have to Be a Challenge
The good news here is there is help available to you. While it is up to you to establish the financial components of the business and to sell your service and employee benefit plan products to companies, you can have a third party administrator do much of the other work for you. This includes helping to field customer service needs, managing your marketing, and helping to manage the administrative tasks. They can help ensure you are within all compliance requirements while also working with you to reduce the amount of time you spend handling the paperwork.
The benefit of a third party administrator is clear. They give you more time to do the tasks only you can or should do. And, this means you have more time to spend building your business or even taking a few days off without having to worry about what is happening with your clients. This type of service from third party professionals can often make or break a business by providing advisors with the support and guidance they need for those tasks capable of being delegated to others.