TAMPs or turnkey asset management programs use technology to automate the investment management process- they represent an immense opportunity for wealth creation for both clients and advisors alike. TAMPs often command a sales price that is a multiple of 6 times or more than their traditional advisory counterparts. Imagine selling your income stream for six times the money it's making now. It's not just a fantasy; it's a very real possibility if you can unlock the potential of TAMPs.
In the advisory world, it's all about leveraging assets for maximum returns. One relatively underexplored avenue of wealth enhancement is the Turn-key Asset Management Program, or TAMP.
These solutions allow advisors to focus on their relationships with clients while outsourcing the cumbersome task of investment management to the crème de la crème of money managers.
According to America's Best TAMPs at TAMPS.COM, top-performing TAMPs include Orion, Envestnet, Morningstar, SEI, AssetMark, GeoWealth among others.
What might surprise you is that your firm could already be a TAMP, even without your knowledge. Or perhaps you're a stone's throw away from becoming one, thanks to resources that you already have at your disposal through your custodians or technology providers. How does this translate to more wealth? The answer is in the new income streams generated by TAMPs. These programs not only offer a more efficient means of delivering top-tier investment management to clients, they also open up avenues for robust revenue.
Uncovering this potential could be as simple as evaluating the resources already in your arsenal.
The real magic happens when it's time to sell. TAMPs often command a sales price that is a multiple of 6 times or more than their traditional advisory counterparts. Imagine selling your income stream for six times the money it's making now. It's not just a fantasy; it's a very real possibility if you can unlock the potential of TAMPs.
Intriguingly, many advisory firms are on the cusp of transforming into a TAMP and are not even aware of it. Whether it's through the relationships with technology providers or custodians, many firms are primed to make the shift.
This potential transformation could mean the difference between selling your firm for a respectable sum versus selling it for a staggering, game-changing amount.
The potential of TAMPs is waiting to be harnessed. With a bit of introspection and a review of your existing resources, your firm could be the next to join the ranks of the most successful TAMPs in America.
A 6x boost when selling your advisory firm is not a pipe dream, but a plausible outcome in the world of TAMPs.
It's time to ask yourself: could your firm already be a TAMP without you knowing? The answer could lead you to the next level of wealth generation.
A new FREE app offers a quiz available to advisors to learn if they are already a TAMP.
Take the quiz now, HERE
