Advisory Firm Success Story


The firm’s goal was to attract the next generation of advisors with small books of business, attract more productive operations staff to join the firm, move to a updated office space that accommodated more advisors with offices but not have to increase the square footage needed to rent, and be able to double the wealth management business without having to double the size of the staff.



MyVirtualCOO (MVCOO) took the time to observe and learn about the business operations and 6 person staff in order to provide a customized set of recommendations and costs on processes, technology, and virtual staff, known as the Game Plan. Based on the tools and processes the client choose, we implemented the solutions and trained employees to ensure that the systems were integrated, working properly and that processes were constantly being implemented and improved.

Researched and Recommended: Software: CRM, Document Management, Portal, Form Filling, and Email Blast. Hardware: dual monitors, PDF software, Twain scanners.

Implemented, Integrated and Trained: Redtail CRM, Net Documents with integration with Redtail, Laser App Group, Money Guide Pro integration with Redtail, Redtail integration with AUM feeds, Copy Talk with Redtail integration.

Created and trained firm on newly created processes: Built the following processes within the CRM to effectively manage the staff, productively complete the work and create a scalable firm as operations work was now trackable and delegatable. Process: prospect to client, annual compliance.



1 year later, AUM had grown from $180 million to $200+ million. Due to attrition, they reduced their staff size (and cost of $80,000) without needing to replace the role and eliminated the portfolio accounting system that was no longer needed. They also moved to new office space with the same square footage and 3 more offices due to no longer needing file cabinets and they attracted a seasoned younger advisor to join the firm.



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