As a financial advisor, you want to focus on the aspects of the business that need your attention like meeting with existing clients, applying your experience to creating tailored financial plans, and making sure you’re spending time bringing in new business. And like most financial advisors, you have so many menial tasks and responsibilities that take away from the tasks that move the needle. This is where delegating day-to-day and administrative tasks to a VA can be helpful.
With low overhead and high flexibility, virtual assistants are a cost-effective solution for financial advisors looking to grow their business. This guide will explain what VAs can do for advisors, how to find them, and tips to remain compliant when working with a VA.
Welcome! Our team works around the clock so if you have a question or require assistance, please feel free to contact us here. Want to learn more about us? Read about AdvisorFinder here.
📅 talk to our team about helping me get in front of my ideal clients ⬇️
👉 click here if you're curious about what AdvisorFinder offers to advisors
Think of a virtual assistant as a remote employee who takes on tasks that you either don’t have time for or don’t love doing. They can do tasks that an executive assistant would typically handle, such as scheduling appointments, organizing client intake forms, responding to emails, arranging travel, or organizing meeting notes. However, virtual assistants usually work part-time, which is why most virtual assistants are independent contractors that are employed by companies of all sizes and industries.
Think of a virtual assistant as a remote employee who takes on tasks that you either don’t have time for or don’t love doing. They can do tasks that an executive assistant would typically handle, such as scheduling appointments, organizing client intake forms, responding to emails, arranging travel, or organizing meeting notes. However, virtual assistants usually work part-time, which is why most virtual assistants are independent contractors that are employed by companies of all sizes and industries.
One of the great things about virtual assistants and why they are so popular amongst financial advisors or large corporations is there are no specific tasks they can perform. Instead, the assignments they are given depend on the needs of you, the employer.
However, you need to keep in mind that virtual assistants have differing levels of experience, so make sure they have relevant financial services experience if you need help within the business. Additionally, some tasks are best suited for those who are licensed or regulated.
Below is a detailed list of the most common jobs virtual assistants do for advisors:
Most financial advisors hire virtual assistants for admin work that requires valuable time. This includes sending meeting invites out, making sure emails get responded to, organizing calendars, booking client travel, and creating meeting notes.
Keep in mind they could have access to sensitive client information, so always follow guidelines and procedures set by the firm you work for or Chief Compliance Officer.
Virtual assistants can help organize tasks outside of the office, which may be more attractive to financial advisors who are concerned about the VA’s access to sensitive information. Some of the most common tasks you can delegate which will allow you to spend more time in the business include: booking family vacations, organizing personal calendars so you never forget that important date, and purchasing gifts for friends, clients, and family.
For financial advisors looking for a virtual assistant to be more inside the business, you’re likely looking for an outsourced client associate, which could be a virtual assistant. In this case, your outsourced CA or VA can be the first point of contact when a prospective client submits an inquiry or you receive feedback from a visitor on your website. They can handle most questions that come through to you, but always make sure to give them clear guidelines on what NOT to say.
Manual data entry is something that all financial advisors have to do, but most don’t enjoy doing it. Virtual assistants can help compile data on new or existing prospects, check the accuracy of that data, and add the data to the appropriate place like a CRM.
One of the most challenging parts of being a financial advisor is also a new challenge that advisors used to overlook - social media. Let’s face it… if you want to be relevant, you have to be online! We created AdvisorFinder to help people find financial advisors because social media is a mess and searching online results in confusing paid ads. Nevertheless, a virtual assistant can help you create your AdvisorFinder profile, engage with others on social media, and maintain a consistent posting schedule so you don’t have to.
👉 check out our detailed guide on social media management & content creation for advisors
If you use written content (blogs, resource guides - interal link to content guide for advisors) to drive traffic to your site, increase brand awareness, and engage potential clients, then you know how much work that goes into creating a beautifully written blog that gets picked up by search engines (SEO guide for financial advisors). A virtual assistant can help manage a content release calendar, perform SEO research to find topics and keywords, and facilitate various elements of the publishing process, making it easier for you to focus on growing the other side of the business.
🛡️ You should always submit each piece of content to compliance and review it yourself.
If you want to find local prospects or prospects online, then you’ll have to do research! This kind of prospect research can be time-consuming, so some financial advisors use virtual assistants to help find and compile prospect information.
The average salary for a virtual assistant in the United States is $33.84 per hour, according to ZipRecruiter. However, salaries can vary depending on a number of factors, including experience, skills, location, and industry. For example, virtual assistants with specialized skills, such as video editing or social media management, may earn more than those with more general skills like data analysis. Virtual assistants in large cities or high-cost areas may also earn more than those in smaller towns or lower-cost areas.
Oftentimes, virtual assistants work overseas, and their hourly rate is lower. However, you need to be cautious about using overseas VA’s as a financial advisor.
Virtual assistants can be paid in a variety of ways, including:
To hire a virtual assistant for financial advisors, you can follow these steps:
We recommend starting with Upwork, as their platform has been the most common choice to find most of the kind of VAs you would be looking for as an advisor. This is based on our discussions with other advisors, so please use your discretion when choosing a virtual assistant.
Virtual assistants can be a game-changer for financial advisors who are looking to grow their businesses. By delegating tasks to a virtual assistant, financial advisors can free up their time to focus on more important things, such as developing new clients, building relationships with existing clients, and growing their business.
If you are a financial advisor considering hiring a virtual assistant, be sure to define your needs carefully and interview potential candidates thoroughly. Once you have found a virtual assistant that you are happy with, make sure to establish clear guidelines and procedures for them to follow.
By following these tips, you can set yourself up for success in working with a virtual assistant and growing your financial advisory business.
.png){kind=avatar}
