{"id":1223,"date":"2024-01-10T04:25:47","date_gmt":"2024-01-10T04:25:47","guid":{"rendered":"https:\/\/befreeltd.com\/uk\/?p=1223"},"modified":"2026-01-20T11:30:28","modified_gmt":"2026-01-20T06:00:28","slug":"streamlined-financial-plans-and-administrative-tasks","status":"publish","type":"post","link":"https:\/\/befreeltd.com\/us\/resources\/case-studies\/streamlined-financial-plans-and-administrative-tasks\/","title":{"rendered":"How Outsourcing Streamlined Financial Plans, Boosted Revenue & Cut Costs"},"content":{"rendered":"\t\t
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Client Overview<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tOperating for over two decades in New York, this financial planning firm helps clients with self-directed IRA and loan strategies to effectively build, protect, and manage their wealth.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tThe firm\u2019s director aimed to grow the client base to increase revenue but struggled to achieve this due to the highly technical needs of the firm\u2019s clients and limited in-house support.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t
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    Client Challenges\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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    • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tOverwhelmed by Administrative Tasks:<\/b> With only one full-time advisor, the firm quickly became overwhelmed by the highly technical demands of its clients.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
    • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tLack of Focus on Growth:<\/b> The director had to take on administrative tasks, including organizing documents and conducting research, which diverted attention from growing the business.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
    • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tDeclining Quality of Work:<\/b> The focus on administrative work led to mistakes in the financial plans already in the pipeline, as the firm struggled to meet vetting standards.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
    • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tRising Vetting Costs:<\/b> Errors in financial planning resulted in increasing vetting costs and risked eroding client trust.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t
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      befree's Solution<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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      • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tIdentifying the Root Cause of Errors:<\/b> befree\u2019s team was able to quickly identify that the poor work quality was due to the vetting team not receiving documents on time, caused by the firm's limited resources.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
      • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tDeploying Certified Specialists for Streamlined Vetting:<\/b> Utilizing a team of specialists certified in US financial regulations, befree ensured that financial plans, along with all necessary supporting documents, were submitted promptly to clear the vetting process.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
      • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tEnhancing Advisor Support with Research Assistance:<\/b> Additionally, befree assisted the firm\u2019s advisor with research tasks, enabling more efficient and accurate plan vetting and reducing rework and turnaround time for the financial plans.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
      • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tSeamless Transition to a New Broker-Dealer:<\/b> The firm also decided to switch its broker-dealer due to rising advisor license fees and engaged befree to assist in transitioning documents to meet the new broker-dealer requirements.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t
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        \n\t\t\t\t\t\t\n\t\t\t\t\t\t\tSuccessful Client Base Growth\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t

        \n\t\t\t\t\t\tThe firm achieved its goal of expanding its client base, leading to increased revenue.\n\n\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t

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        \n\t\t\t\t\t\t\n\t\t\t\t\t\t\tError-Free Financial Plans\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t

        \n\t\t\t\t\t\tBy eliminating errors, the firm avoided vetting charges and maintained client trust.\n\n\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t

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        \n\t\t\t\t\t\t\n\t\t\t\t\t\t\tCost Savings\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t

        \n\t\t\t\t\t\tThe firm saved on hiring local administrative staff by leveraging two full-time resources dedicated to financial plans and administrative tasks for over three years.\n\n\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t

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        \n\t\t\t\t\t\t\n\t\t\t\t\t\t\tIncreased Revenue\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t

        \n\t\t\t\t\t\tThe improved efficiency and focus on client growth resulted in a significant boost in revenue.\n\n\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

        Client Overview Operating for over two decades in New York, this financial planning firm helps clients with self-directed IRA and loan strategies to effectively build, protect, and manage their wealth. The firm\u2019s director aimed to grow the client base to increase revenue but struggled to achieve this due to the highly technical needs of the […]<\/p>\n","protected":false},"author":1,"featured_media":11812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies"],"yoast_head":"\nEnsured Error-Free Financial Plans & Administrative Tasks<\/title>\n<meta name=\"description\" content=\"See how befree improved accuracy and efficiency by streamlining financial plans and administrative tasks for a New York financial firm. Read the case study.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ensured Error-Free Financial Plans & Administrative Tasks\" \/>\n<meta name=\"twitter:description\" content=\"See how befree improved accuracy and efficiency by streamlining financial plans and administrative tasks for a New York financial firm. 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