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2022 America's Best TAMPs Guide [8 - 9]
Source: nxtbook.com
Article summary:
1. Turnkey asset management programs (TAMPs) allow advisors to delegate investment management tasks to third-party experts or robots, freeing up time for other responsibilities.
2. TAMPs offer a complete investment management program through the advisor's sponsoring firm, allowing for fee-based account relationships and customized managed account platforms.
3. The number of advisory firms using TAMP operations has reached critical mass, with as much as $3 trillion in client assets run on TAMP platforms today.
Article analysis:
The article titled "2022 America's Best TAMPs Guide" provides an overview of turnkey asset management programs (TAMPs) and their advantages for wealth advisors. The author argues that TAMPs allow advisors to delegate time-consuming back-office functions, such as investment research and portfolio construction, to third-party experts or robots, freeing up more time for client acquisition and relationship management.
While the article presents some valid points about the benefits of TAMPs, it also appears to be biased towards promoting them as a solution for all wealth advisors. For example, the author claims that TAMP technology will take us into places that mutual funds and ETFs barely even imagined, without providing any evidence or examples to support this claim. Additionally, the article does not explore potential risks or drawbacks of using TAMPs, such as loss of control over investment decisions or increased reliance on third-party providers.
Furthermore, the article seems to present a one-sided view of the industry by portraying TAMP adoption as a foregone conclusion and implying that advisors who are not using them are falling behind. While it is true that many advisory firms have embraced TAMP operations in recent years, there may be valid reasons why some advisors choose not to use them, such as concerns about cost or suitability for their clients' needs.
Overall, while the article provides some useful information about TAMPs and their advantages for wealth advisors, it could benefit from a more balanced perspective that acknowledges potential risks and drawbacks and presents both sides of the argument.
Topics for further research:
Risks and drawbacks of using TAMPs for wealth advisors
Control over investment decisions in TAMP operations
Cost considerations for implementing TAMPs in advisory firms
Suitability of TAMPs for different types of clients and investment strategies
Alternatives to TAMPs for back-office functions in wealth management
Comparison of TAMPs with other investment vehicles such as mutual funds and ETFs.