How to Choose a TAMP to Help You Grow


Key Questions:

  • Is a TAMP the right solution for your business?
  • What are the benefits and concerns around using a TAMP?
  • How do you leverage a TAMP service to grow your business?


Every financial advisor knows the value of time, especially when every part of the business requires it. One of the most time-consuming facets is investment management. From research to the actual mechanics (such as portfolio creation or rebalancing), there never seems to be enough time to optimize other parts of the business when investment management is a critical part of your business.

So how do advisors find a way to deliver thorough investing solutions without it dominating their schedules? This is where many advisors seek out a TAMP solution.

What is a TAMP? Turnkey Asset Management Platform

TAMP, which stands for Turnkey Asset Management Platform, is a tool that helps financial professionals manage their clients’ investment portfolios. TAMPs can be great resources for financial advisors because they allow them to delegate asset management to dedicated investment strategists.

This means that advisors will be able to put effort into servicing their clients instead of keeping busy with the minutiae of asset management. They also enjoy the benefits of having a team of immersed professionals covering this area of the business.

However, TAMPs are a cost-based solution leading advisors to consider the value a TAMP can produce. Also, not every advisor is comfortable outsourcing these duties or focusing on client relations. With these questions in mind, let’s explore if a TAMP solution is the right option for your business.

Benefits of Using a TAMP


It’s not just time saved – it’s time reinvested.

There are several ways that a TAMP can be a useful tool for a financial advisor. The primary value, of course, is time. Managing the portfolios of each and every client that you have can occupy a disproportionate amount of your time. While positive results help foster good client relationships, you also need sufficient time to invest in nurturing existing and new relationships. It’s how you grow your business.

The value of a TAMP then isn’t just in the time you’re able to save – it’s in how you can reinvest that time to grow your book of business.

They can improve emergency continuity or valuation.

TAMPs are also helpful more broadly for firms because they can help maintain a solid portfolio for a client when an advisor retires, passes away, or takes another position. They help with succession planning because all of the nuances and knowledge needed to handle a client’s investments are not stored solely in the advisor’s mind.

Since they have outsourced aspects of the asset management experience, the client’s experience can carry on uninterrupted even if the original advisor is no longer available to service them.

You can build clients’ trust through partnerships.

While some advisors prefer their TAMP partner to remain anonymous, some advisors find unique value in showcasing their partner’s expertise. A TAMP solution carries a unique value prop because your clients investments are:

  1. Guided by you, the advisor, who knows their personal goals and risk tolerance
  2. Managed by a trusted team of investors who are immersed in their craft

While it doesn’t guarantee results, it takes the burden of being a stock whisperer off your shoulders as the advisor. There is still trust required, but your clients may be more comfortable knowing that there is an additional layer of expertise managing their interests.

They can streamline your client experience and operations.

Some TAMPs such as WealthPlan Group’s solution also provide additional features that can be very useful for financial advisors. These may include technological advantages – like a platform that helps simplify communication and management procedures – as well as consulting and business development services. These services are not provided by every TAMP, but they are being offered more often.


Addressing Hesitations to Using a TAMP

Despite providing many advantages, Turnkey Asset Management Platforms some advisors still hesitate due to perceived drawbacks. There are a few reasons that advisors might hesitate to use a TAMP. At the very least, these concerns should be considered before selecting one so that the right platform can be chosen.

“I don’t want to give up that much control of my clients’ investments.”

The first potential negative of using a TAMP is that advisors will take a backseat when it comes to asset management. While some TAMPs do limit your ability to maintain influence over trading decisions, some TAMPs like WealthPlan Group’s provide advisors far more flexibility than many may expect.

While this is not true of every TAMP, a solution like WealthPlan Group’s allows you far more flexibility as far as the kind of investment strategies that are available as well as access to options such as rebalancing. Our TAMP clients also are able to attend investment committee meetings to provide feedback and have input on investing decisions.

“I don’t think a TAMP will do as good of a job as I would.”

Choosing a TAMP is a decision that certainly requires a high degree of trust. Some advisors don’t believe that a TAMP is likely to do a better job than they currently do. To that end, it’s worth asking:

  1. Do I trust the TAMP’s ability to implement the strategies I’d like to use?
  2. What could I do to grow my business with the additional hours I’d get back?
  3. Are there additional ways we could add value to our client relationships with our additional time?
  4. What would happen to our clients’ strategies if something were to happen to me?

While performance is a critical metric for investment management, it’s helpful to weigh that edge against your overall business development and ability to serve your clients.

“I don’t want to take on the cost associated with a TAMP.”

This is one of the biggest factors that may discourage the use of a TAMP. If you see the cost of a TAMP as unnecessary, you may not be in a position where it would be the right choice. As your clients grow in quantity and complexity, you may consider hiring a dedicated investment manager to manage your firm’s investment operations. While this is the right fit for some businesses, you find that the questions surrounding a TAMP are fairly similar:

  1. Do I trust the decision making of the person / TAMP I’m hiring?
  2. Do I maintain the ability to influence investment decisions affecting my clients?
  3. What happens if my investment manager leaves their post? (employee turnover)

In each of these categories, a quality TAMP may appear equally capable, and in some cases, more valuable than an internal investment manager.


Maximizing Your ROI with a TAMP

Like any investment in your business, you need to have a plan to maximize your ROI. Fortunately, there are several strategies that can be used to help you get the best possible return on your investment.

Focus on Client-Facing Activities

Delighting your clients is the lifeblood of your business. If you enlist the help of a TAMP, be prepared to actively focus that time on client-facing activities. You’ll be able to focus more of your time on activities that build relationships and generate more revenue.

Focus on Driving New Business

Another key use of your newfound free time is to focus on activities that generate new business for your practice. This could be investing in new marketing efforts or developing strategic partnerships. If you can turn your extra time into new revenue, the cost of a TAMP becomes a fee you’re more than happy to pay.

Focus on Business Development

You may be familiar with the phrase “work ON your business, not just IN your business.” A TAMP may be considered a good example of this principle. There are other systems within your business that would improve your overall operations with your attention. If you can help strengthen your company’s operations with your leadership, you can turn your time into revenue retention and acquisition.


Want to Learn More?

WealthPlan Group has developed one of the industry’s more innovative TAMPs for its advisors. It emphasizes flexibility to fit your clients’ needs as well as clear investment philosophies that adapt to changing market conditions.



Advisory services provided through WealthPlan Investment Management, a Registered Investment Advisor.

WealthPlan Group LLC, is a holding company for WealthPlan Investment Management, LLC and WealthPlan Partners, LLC, both Registered Investment Advisors. WealthPlan Group, LLC is not itself a Registered Investment Advisor.

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