Americas Best TAMPS 2024 - 3

2024 AMERICA'S BEST TAMPS
TM
EXECUTIVE SUMMARY
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SCOTT MARTIN
EDITOR-IN-CHIEF
AMERICA'S BEST TAMPS
While I prefer to look forward, it's
occasionally worth taking a step
back to gauge how far we've come.
A decade ago, " TAMP " was barely
a buzzword. There were plenty of
platforms but few could agree on
a term that captured what they all
had in common. Advisors struggling
with the redundant jargon opted out
and missed out on transformational
operational benefits.
Those days are over. Outsourcing at
least part of the investment function is
now standard operating procedure for
a lot of firms, big and small. People get
it. And the question is where TAMPs go
from here now that they've effectively
conquered the industry.
I'm thinking the past is only the
prologue. We haven't seen anything
yet. The future will be full of new
technologies, new relationships,
innovations we can't even dream
about. Advisors who grab that future
now have everything they need to
thrive.
obody can do this alone, especially today. Wealth
management has always been a collaborative
sport combining the expertise of specialists and
generalists to create stronger client outcomes together.
But now, in the wake of three bear
markets in four years, advisors still
recovering from the pandemic lockdowns
are acknowledging an essential truth:
What was once simply a smarter
approach to squeezing efficiency out of
your firm becomes a question of survival.
After everything the industry has been
through, if you aren't delegating,
you're probably running on fumes.
And delegation still requires continuing
resources, even after you pick the right
partners for your platform. As the platform
gets more complicated, managing it can
become a full-time job in itself.
Turnkey asset management programs
(TAMPs) evolved to make it easier to
manage the mix. All the functions they
provide are engineered to integrate
together like a modern car or computer:
turn the key, push the button, and the
system will take you and your clients
wherever you want to go. After that, they
run in the background of your life. You
can always turn off the automatic systems
and recover manual control over a single
operation or your entire career-if that's
really what you want.
Some advisors may long for that
manual control, but most of us are more
interested in making sure we have the
resources to respond to the emergent
shocks that have multiplied in recent
years. That's what modern clients
demand. While the absolute stakes might
be small, the emotional buffer for mistakes
has gotten unbearably thin. They're simply
exhausted. And managing them can leave
the advisor exhausted as well.
Modern technology makes it happen.
Modern problems make it a matter of
survival. Our universe has grown and
deepened as well. You'll find the biggest
platform providers here, as well as the
most exciting next-gen players in the
space. As the lingering impact of the
pandemic fades, outsourcing the portfolio
isn't just a niche decision for technophiles
anymore. Home-office work and online
client calls have shown every advisor
it's the key to continued relevance,
prosperity-even survival.
We're letting go of what's not working:
The notion that every wealth manager
needs to be an asset manager building
their clients' portfolios from the ground
up. We're picking between platforms,
looking for outside help, seeing what's
out there. This year, we've brought back
favorite firms, old and new. We've also
had to cut a few names that stumbled
along the way.
Let this guide help you determine whether
you need a partner, and help you navigate
your search. It means change, yes. But
for once, this is change on your own
terms. That's what this guide is all about.
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Americas Best TAMPS 2024

Table of Contents for the Digital Edition of Americas Best TAMPS 2024
