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  • Writer's pictureAfsara Khan

Virtual Assistant For Financial Advisors

There has been an increase in demand for virtual assistants who specialize in working with financial advisors. Financial advisors can greatly benefit from hiring a remote assistant for financial advisors because they can increase productivity by freeing up time and assisting with mundane administrative tasks.

Virtual assistants prevent you from being overburdened with financial and administrative work

Let’s take a closer look at how embracing virtual assistant services help financial advisors make the most of their time.

Benefits of Having A Virtual Assistant

Benefits of Having a Virtual Assistant
Benefits of Having a Virtual Assistant

  • Lower Administrative Burden - Outsourcing administrative tasks fees the financial advisor from the unnecessary stress and helps focus on the service provided to clients.

  • Increased Productivity - Having a remote assistant will improve the financial advisors workflow management, in turn making them more productive.

  • Reduced Cost - A remote virtual assistant cost less than a full-time employee and reduce recruitment and employee overhead cost.

  • Improved Scalability - VAs also help financial advisors adjust their support team without fixed employee costs which helps in expanding their client base. 

  • Better Client Service - Dedicated support for administrative tasks will ensure increased accuracy and efficiency thus leading to an enhanced client service.

  • Increased Time Efficiency - Virtual assistants prevent financial advisors from having to jump between activities and juggle too many tasks at the same time, this saves valuable time and improves time efficiency.

What Do Virtual Assistants Do?

The types of support a virtual assistant can provide can be categorized into three types: 

  • Financial Tasks

  • Administrative Tasks

  • Strategic or Operational Tasks

1. Financial Task Support

  • Basic Accounting - VAs can make income statements, track expenses and categorize transactions

  • Research and Analysis - They can gather market data, monitor industry news, analyze customer feedback and prepare research reports.

  • Client Services Support - Virtual assistants can also collect account information, answer routine customer 

2. Administrative Task Support

  • Calendar Management - Virtual assistants can manage the financial advisors calendar, coordinate meetings and schedules

  • Email Management - Managing inboxes, replying to basic inquiries and maintaining communication can be done by VAs

  • Data Entry - Data entry tasks can be outsourced to VAs who will input information into databases and spreadsheets accurately

  • Document Preparation - They can help automate templates, draft presentations and proposals 

  • Social Media Management - Assisting with content creation by designing social media graphics and visuals, engaging with followers and monitoring the online presence of the business can be done by virtual assistant 

  • Client Record Management - They can keep a detailed record of client information and maintain data security.

3. Strategic or Operational Tasks

  • Marketing - Assistants can help with website maintenance  

  • Event Planning - Financial VAs handle event logistics and on-site management 

  • Travel Coordination - They can streamline the travel process by booking flights, hotels and all other arrangements necessary 

  • Market Research - They are also able to conduct market research for the financial advisor by collecting and compiling data, monitor regulatory changes and their possible impact on the market

How to Hire a Virtual Assistant 

how to hire a virtual assistant
how to hire a virtual assistant

The first step to finding the right financial virtual assistant is to define the needs of the financial advisor. Identifying the tasks required and outlining the skills needed can be a good place to start. Finalizing the job description and requirements should be done carefully and after thorough research. 

There are many virtual assistant companies or BPO companies that provide virtual assistant monthly packages. Platforms such as Upwork, Fiverr, Zirtual have a wide range of profiles of potential candidates. Job boards like Indeed and Linkedin also have a multitude of profiles to choose from.

Screening the candidates is an important part of recruiting since the skills, experience and testimonials need to be in the relevant field.

How Much Does A Virtual Assistant Cost?

How to hire a virtual assistant
How to hire a virtual assistant

The cost of a Healthcare Virtual Assistant varies according to location, services required and the company you choose to hire from but the average hourly rate of a virtual assistant is about $5.


Finally, remember that virtual assistants or VAs are strategic partners that have the power to completely change your practice.

By using their experience and assigning administrative responsibilities to others, you can free up time to concentrate on what really matters; building lasting client connections and accelerating long-term growth.

Accepting this collaboration will help financial advisers thrive in a constantly evolving environment by giving them greater power and efficiency in the future.

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