Should Independent Financial Advisors Hire a Virtual Assistant?

Independent Financial AdvisorsWondering if virtual assistants can help independent financial advisors? Learn more from Summit Brokerage.

Thanks to the Internet and ever-advancing technology, working “virtually” today is a way of life. This virtual environment offers independent financial advisors the opportunity to work with clients in a variety of locations, potentially increasing one’s client base. And, in addition to possibly enhancing your business, working virtually can even make running your business easier, thanks to virtual assistants.

Virtual assistants are freelance or contract workers who work virtually from their home completing a wide range of tasks. These tasks can be simple administrative tasks or secretarial work, or more complex financial planning duties. A virtual assistant can help you by taking some of your work load – allowing you to concentrate on and build your business in other ways – and can also do the work that you tend to put off (but know needs to be completed). Hiring a virtual assistant, or several, is a great way to expand your team without having to hire full-time employees. Depending on task type, average virtual assistants for independent financial advisors can cost anywhere between $15 per hour up to $75 per hour.

Please Note: If a virtual assistant has access to client data, they will need to be fingerprinted and have a background check performed.

If you are considering hiring a virtual advisor to help grow your business, or complete tasks that are bogging you down and keeping you from important projects, here are 4 tips to consider:

1. Finding the Right Fit

Do you need help completing one specific task, or are you searching for someone who can be available several hours each week for a variety of jobs? Depending on what you are looking for, there are several websites that can help you find the right virtual assistant for you. Check out,, or For more financial-planning specific support, visit or

2. Get Comfortable Delegating

No matter how experienced or knowledgeable your virtual assistant is, he or she will not be able to do the work assigned if you do not delegate it properly. Determine in which area of your business you need the most help – it may be social media/blogging support, online marketing and campaigns, bookkeeping and accounting, or returning emails to clients/scheduling clients. All of these tasks are commonly outsourced by financial advisors to virtual assistants. Once you delegate what needs to be completed, concentrate on another area of your business that needs attention. Be sure there are checks and balances in place to verify your virtual assistant is performing the job he or she was hired for.

3. Be Aware of Time Zones

Because most virtual assistants will not work in your city, let alone time zone, it is important to find blocks of time that are appropriate working hours where you and your assistant can connect. Whether you are delegating more work or providing feedback, it is wise to connect with your virtual assistant on a regular basis. Make sure he/she is also aware of the time zones of your clients in order to properly schedule meetings/appointments, emails and more.

4. Create a Contract or Agreement

As a financial advisor, it is likely your virtual assistant will be privy to confidential client information. For this reason, it is crucial that you have him/her sign a privacy agreement. In addition, make sure you are in control of the assistant’s logins, passwords, and software licenses, in case termination is required. This will save you a lot of hassle in the long run!

There are many upsides to hiring virtual assistants, particularly the fact that you will have dedicated and attentive staff members who work only as little or a much as you need. If you aren’t in the market for a full-time employee, but need help growing or maintaining your financial planning practice, a virtual assistant may be right for you.

To learn more about virtual assistants for financial advisors, visit Summit Brokerage Services has been voted the #1 boutique independent broker dealer in the country. Let us show you why! To experience the Summit difference, learn more about our network of independent financial advisors, and begin creating your financial planning documents, visit or call us at (800) 354-5528.


About Summit Brokerage Services, Inc.

Summit Brokerage Services is part of Cetera Financial Group. Summit Brokerage provides a broad range of securities brokerage and investment services to primarily individual investors. Summit Brokerage also sells insurance products, predominantly fixed and variable annuities and life insurance through its subsidiary, SBS Insurance Agency of Florida. Summit Brokerage also provides asset management services through its investment advisor, Summit Financial Group, Inc.


About Cetera Financial Group

Cetera Financial Group® (“Cetera”) is a leading network of independent retail broker-dealers empowering the delivery of objective financial planning advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions.  Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations.  Independent financial advisor support resources offered through Cetera include award-winning wealth management and financial planning and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.  For more information, visit

*”Cetera Financial Group” refers to the network of retail independent broker-dealers encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services.


All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy.


Content created by Summit Brokerage Services, Inc.

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