An outsourced chief investment officer takes over the responsibilities for investment of wealth management firms, consulting companies, and investment management organizations. This includes selecting managers who will oversee the day-today management of the portfolio and giving guidance to clients on their overall investment strategy.
An OCIO, beyond the obvious function of investment management, can offer a wealth of benefits for an RIA that is looking to gain additional expertise or leverage. By providing advisors with key deliverables they will have more time to devote to clients. An OCIO can help a firm free up valuable time and reduce overhead and risk. It also enhances the platform of a company by offering a tailored investment plan and enhanced research and investment abilities.
What are the benefits of having an OCIO?
Partnering with an OCIO can provide additional expertise and leverage for many companies, allowing advisors to concentrate on other aspects of their businesses. This relationship has other advantages, such as the ones listed below.
More Effective Time Management
The OCIO Solution from Wealthspire Advisors was created to increase efficiency in advisors’ business by providing deliverables which would otherwise be left up to the advisor. The time spent on time-consuming tasks can be allocated for other activities, such as individual client conversations or thorough care. Despite being a hands-off OCIO you are still closely involved with the investments philosophies, and the processes used on behalf of clients.
Cut Costs
RIAs that choose an OCIO can reduce their staffing costs and save on technology, while maintaining a standardized process. An OCIO eliminates the need for a full-staffed investment office within an RIA, which is a costly undertaking.
Using Wealthspire’s OCIO service, you can create a custom investment platform that includes enhanced research options and investment selections to exceed your clients’ expectations at a much lower price.
Customized Financial Solutions
OCIO is not a solution that fits all. As unique as each advisor is, the relationships that they build with their clients are also. Wealthspire offers the flexibility to tailor its service to meet the needs of firms. This allows the advisor to focus on their clients, and take care of more personal aspects of investing.
The Streamlined Process of Decision Making
A OCIO improves the decision making process when he assumes responsibility for managing the investment portfolio and removing all the complexity that comes with handling many unique circumstances.
Relationships that are Trustworthy
The Investment Team at Wealthspire maintains professional relations with its clients, and places a high priority on open communication and accessibility. The Investment Team at Wealthspire is objective and transparent in its decision making and always keeps clients’ best interests first.
What services does the OCIO offer?
The popularity of investment outsourcers is growing. One benefit to using an OCIO, is that you can customize the relationship according to your needs and wants. Wealthspire offers a wide range of routine services, including quarterly and annual reports. Wealthspire provides many routine, quarterly and annual services.
Routine
- Customized research services based on the goals you have.
- Support for proposals and presentations
- Support in transitioning large clients and integrating them into the system
- Emails about weekly investment
- Members of the Investment Team are available for consultation
- Notification of changes in status and updates on managers approved
- Monthly updates on the affirmative votes of Investment Committee
- Model portfolios regularly updated and with approved managers
Quarterly
- Investment commentary aimed at clients
- The Attribution/Outlier Report is a list that you and your manager(s) have agreed upon.
Recommended list of Wealthspire
Every Year
- Capital Markets Updates
- Phone participation by an Investment Team Member in two Investment Committee Meetings
- Additional services available upon discussion
- Meetings with advisors and clients via videoconference
- More client-facing material: blogs, video tutorials and infographics
Wealthspire Advisors has many years of experience operating as an RIA. They understand the balance that is required to satisfy the high-net worth investor’s needs. The OCIO Services from Wealthspire are a personalized and collaborative approach that meets these needs, while saving you time and money.
