Outsourcing and automating critical, routine tasks can help you to avoid the headaches turnover can cause in your daily operations. Unexpected employee turnover—we’ve all been there. In fact, the turnover rate in the financial advisory industry is rising, according to the DeVoe 2021 RIA Talent Management Report. Turnover can wreak havoc on your firm, impacting far more than just the recruiting and hiring tasks. The untimely departure of key team members charged with critical tasks like reconciliation can push you to levels of frustration you rarely reach under normal conditions. Your employee ..read more

In this COVID-present and technology-driven world, the hiring trends in financial services have changed a lot within just a few years. To stay both relevant and competitive, financial firms need to adapt. Supply chains are a mess, inflation is at highest level in decades, and it seems there’s a shortage of just about everything. That includes the world of financial services. 4 out of 5 financial institutions are worried about staffing, and the labor shortage in banking will persist long after the pandemic, according to this publication from American Banker. On top of that, the average age o ..read more

The labor shortage in banking and the financial services industry is a real thing, but don’t let it stop the work from getting done. It’s no surprise that banks, institutions, and money managers struggle to find and retain talent. In its 2018 report, Korn Ferry predicted a worldwide talent crunch by 2030, with the effects of a labor shortage being felt as early as 2020. The report mentioned the financial services sector would be among the hardest hit, and it could result in $435 billion in unrealized economic output for the industry. And we hear about the shortage all the time from our client ..read more

The hedge fund trends for 2022 will be shaped by a range of factors. As COVID-19 lingers on, the virus’s presence will continue to influence the markets and economy at large, shaping the way people think, work, and invest. While the world continues to recover from the worst of COVID-19, the economy and markets are reacting accordingly. This creates both challenges and opportunities for hedge funds. And in an environment where things are more volatile and the public is more socially conscious than ever, hedge funds must rethink their strategies for investing and attracting clients. Combine th ..read more

Wealth managers have a lot to gain from private equity investing, but handling private equity statements will consume a lot of time. Recently, we’ve noticed more of our wealth management pursue private equity investments It may sound anecdotal, but what we’ve observed is part of a bigger trend. While investing in private equity (PE) has typically been reserved for large institutional investors, it’s now increasingly accessible to smaller advisories. PE firms recognize the trillions in capital “left on the table,” and they’re finding ways to attract that capital. And there’s good reason for ..read more

The asset management trends for 2022 will be shaped in large by the recovery from COVID-19, affecting the economy, investment strategies, government and regulatory policy, as well as asset manager-client values. The asset management industry is in a “growth period.” As assets pour into ESG and cryptocurrency, and as new funds emerge and M&A activity remains active, there’s a lot of opportunity for asset managers. There will be headwinds with inflation and continued lower fees, but overall it’s a positive outlook. Below are some of the trends to watch in asset management. Asset Management ..read more

Digital transformation is the foundation for future success in finance and investment management. Making these changes can seem daunting, but with good planning and execution, the transformation process will be easier. In the past, notably the pre-COVID years, the thought of upgrading your tech stack might have felt optional. You’ve probably attended RIA industry conferences where the topic came up, but the idea of “digitally transforming” seemed abstract and something for the future. Sure enough, only 36% of financial advisors “heavily embrace technology.” The future is now, and revamping ..read more

A cost-cutting solution, back-office outsourcing services help wealth and asset managers fight back against inflation. Inflation is at a 30-year high. Demand for goods and services is up, and supply chains are a mess. Furthermore, the labor market is the tightest it’s been in 10 years. “Knowledge-intensive” industries, including financial services, will be most affected by the labor shortage. At some point, something’s got to give. Prices will go up. That said, you’re not entirely helpless against inflation. Investment managers can cut costs by leveraging back-office outsourcing services p ..read more

RIA back-office operations is an expense to your firm. As costs continue to rise, the cost of not outsourcing is too great to ignore. Ever have that feeling of regret when there’s a missed opportunity? Buying too late? Selling too soon? Those feelings are excusable, especially when the decisions are difficult and not so obvious. Even the best investment managers feel that way from time to time. What’s inexcusable is not picking the low-hanging fruit right in front of you: back-office operations outsourcing. RIAs have a lot to gain by grabbing the fruit in front of them. Here are 10 thin ..read more

Back-office support is in our DNA. It’s how we got started, and it will always remain a core offering. We’ve been helping wealth and asset managers improve their operations for over 17 years. Suffice to say, we’ve seen it all. So, if you are considering outsourcing back-office functions, here are some reasons to partner with Empaxis. How Empaxis Delivers in Back-Office Support We Are The Plumbers for Investment Operations That’s how we view ourselves: plumbers for your back office. We make sure the operational pipes are functioning normally. You need the data to flow properly into your system ..read more