In conversation with advisers: outsourcing to the specialists

clock • 1 min read

Partner Insight: Cathi Harrison, owner and director of para-sols and Apricity and Clare Farrell managing director at Northfield Wealth met in London recently to discuss outsourcing to specialists.

In the second video of the series, they talk to Julian Marr, Editor of Professional Adviser about outsourcing.

Farrell says: "I think it is the right time for financial advisers to outsource. When Northfield was a very small firm, we outsourced to para planners and we outsourced our investment research. It was good to have the outlook of a bigger firm, whilst being part of a smaller one. As the business grew we brought those roles in-house, the para planner and the administrator role, and outsourced less. But we still outsource in busy times.

"Outsourcing helps us to manage our workflow internally, by focusing on our processes, so if we do have to outsource to a firm, they can pick up on our processes and it is not a burden.

"Technology has also really helped. We have been able to share documents. And as a small firm, it is perhaps easier to outsource to an investment research expert to pull together an investment panel."

Harrison adds: "If you don't have the internal processes nailed down, then outsourcing won't really work for you. Clarity is therefore good, before a financial adviser starts the outsourcing process, and then the second step is finding out who to outsource to - a para planner, administrator support and investment research, there is so much out there."

To read more articles like this, sign up here

More on Investment

Stories of the week: Defence spending, the FCA, and Brickwood

Stories of the week: Defence spending, the FCA, and Brickwood

The German election, Unilever, and UK GDP: The biggest stories from the world of investment and asset management this week

clock 28 February 2025 • 1 min read
Partner Insight: Uncovering the rich tapestry of emerging markets

Partner Insight: Uncovering the rich tapestry of emerging markets

Global emerging markets comprise a large and varied selection of economies and companies. And yet they are often treated as a homogeneous asset class. We seek to debunk some of the misconceptions about emerging markets and unveil the diverse range of potential opportunities they offer, says M&G Investments.

M&G Investments
clock 28 February 2025 • 3 min read
M&G's Matcham: Concentration risk, consolidation and 'reframing' the active debate

M&G's Matcham: Concentration risk, consolidation and 'reframing' the active debate

Building on history of innovation

Katrina Lloyd
clock 26 February 2025 • 6 min read
Trustpilot