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The rollout of the Affordable Care Act has delivered higher premiums to millions of Americans on small employer health insurance plans. While experts can point to various reasons for the increase, the bottom line is that the cost could remain an expensive unknown for years to come.
Ideally, from a business perspective, firms try to project budgets years in advance. This practice allows for appropriate allocation of capital to build an essential infrastructure and add key personnel, with the goal of generating revenue as cost-efficiently as possible. But budgeting can be especially difficult in the asset management industry, where market volatility and the continued compression of fees are forcing managers to be more carefully disciplined in the allocation of budgets.
Outsourcing middle and back office operations is becoming a key solution for many firms struggling to control costs. The operations infrastructure of personnel and systems, while a traditional cost center essential for growth, is becoming more and more expensive. But this shouldn’t be an obstacle to achieving asset growth. Finding the right outsource partner can greatly reduce these costs.
Every successful firm reaches a critical point where they are primed for growth. This is the time you need absolute focus on your investment and marketing strategy before that opportunity slips away. Don’t let managing your business distract you from managing your client’s money.
Have you found the right partner that can support your growth?
Learn more about our Operational Outsourcing services.