Advisors want to be more efficient

Advisors are attempting to boost their productivity by increasing efficiency, a recent study by Rydex AdvisorBenchmarking found. Nearly 90 percent of firms are interested in finding operational efficiencies. More than half of advisors surveyed are automating certain functions and 45 percent are focusing on a specific client base.

Time management appears to be the main concern for advisors trying to run a more efficient practice. Seventy-one percent are prioritizing daily tasks and 39 percent are delegating or outsourcing less important tasks. Forty-one percent are eliminating non-essential work altogether.