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Hiring Remote Workers Can Reduce Advisors’ Cost

Paperwork: no doubt one of the biggest hindrances to any professional.

In the financial services industry, the administrative requirements inherent to our line of work are considerable, and for those who do not have administrative support, it can be detrimental to the growth potential of their business.

The obvious solution would be to hire an administrative employee to offload the paperwork requirements, but for many, the cost of hiring someone competent and qualified full time is cost prohibitive. That’s where a remote or virtual administrative worker is a viable solution.

How Does It Work?

There are a number of ways a remote admin/virtual admin may be constructed. But, at its essence, a remote admin allows the end user to delegate administrative tasks to a qualified professional without hiring that individual as a full-time employee. Remote admin platforms may charge an hourly and/or flat rate for the end user, allowing them to select the payment structure that works best for their business model.

Is It Practical?

The practicality of having virtual administrative services would depend on the industry, but in many cases, this concept is absolutely practical. However, the feasibility of such a platform is driven by the nuances of your industry and the services you’re looking for the platform to fulfill. Executing general administrative tasks, appointment scheduling and fielding phone calls on your behalf are examples of services that can generally be supported, regardless of your industry. For advisors, utilizing remote workers can allow for more time to be spent on client-facing and business-building activities.

What are the pluses/pitfalls of this approach?

While remote admin services certainly carry a lot of advantages, there can be a few drawbacks to this type of service.


  • Cost effective – Takes a financial load off of the expenses of a full-time employee

  • May be able to fulfill most, if not all, administrative needs for your business

  • Increased productivity for the end user


  • Communication – You may not have the opportunity to talk face to face

  • Familiarity with your business – They may not be as familiar with your business, which may or may not prove to be a challenge

  • Technology – This can be a potential issue as it relates to how you deliver and administer your administrative tasks

As with any relationship between you and an employee, there is a learning curve that will take place. Learning how to effectively communicate is critical, especially if your remote worker is not physically based within your office. It will lengthen the learning curve, but it is certainly not insurmountable.

What technology do you need to make it successful?

This can be as varied as the participants are in a program like this. However, some technology that you should consider is:

  • Salesforce. You may already be using a CRM system to manage all of your client data, notes, etc. If not, these platforms are a terrific way to contain pertinent information on your clientele, as well as sending and tracking completed tasks to your remote admin. If you currently do not have a CRM system, one of the more versatile platforms is Salesforce. Salesforce is an extensive CRM system which can be customized to the end user and is capable of not only housing key client information, but also tracking communication with the client and creating and monitoring any administrative tasks requested.

  • Teamwork. If you are looking for a platform that is primarily focused on task/project assignment and tracking, then Teamwork is worth considering. This platform will allow you to assign tasks and track time.

So, if you are a 21st century advisor who’s spending more time on administrative tasks and less on business-building activities and are not in position to hire full-time staff, consider remote admin services. This is a cost-effective way to enable you to spend more time building your business, rather than managing it.


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