With all of the day-to-day rigors of running an investment operation, it is difficult to devote the time to look at your overall operations, but it is important to pause and consider areas to improve and your longer-term future needs. In my role as a product manager, I often hear from wealth management firms that are struggling to optimize their operations and feeling they lack a compass to help them chart the path forward. As one firm representative told me, “We just don’t know what we’re looking for.”  I’ve seen hundreds of clients and implementations, and in this post, I share my perspective on some of the key aspects you should consider to grow and optimize your business.

COVID-19 and the resulting work-from-home (WFH) mandates have all but eliminated the benefit of maintaining in-house investment operations. This benefit is often described as control: the ability to “look over a shoulder” to ensure operations are running smoothly and issues are resolved quickly. Unfortunately, in-person control is no longer an option.