Advisor Benefits
There are many different benefits to advisors by using the TAME™ system. We have listed several of the benefits, but we are sure that advisors will think of many additional ways that the TAME™ system will help them and their clients.
Systemization of an advisors mutual fund practice:
By discussing every investment in a client’s portfolio and establishing specific parameters during the first appointment, the advisor does not have to scour files daily; reviewing portfolios to make sure the client’s investments are performing as expected. Once the parameters are established, the TAME™ system will monitor the investments for the advisor and alert him/her if any action needs to be taken regarding a specific investment. Now the advisor can spend more time generating new sales, discussing other portions of an individual's financial planning, or have more time to just relax.
Client Retention:
Some clients change advisors because of performance issues, perceived lack of service, lack of understanding with what is happening with their investments, and limited or no idea of what the advisor’s strategy is when dealing with their investments in any given situation.
By having the client’s investments monitored by the TAME™ system the performance issue can be avoided/or significantly reduced. The TAME™ system enables the advisor, and the client to quantify (in unemotional and mathematical terms) what parameters are to be established based on risk tolerance, profit expectations, etc. Thus it is difficult for a client to be unhappy when the predetermined expectations that were discussed at the outset are met.
Perceived lack of service regarding a client’s account and lack of understanding regarding what is happening with their investments can be avoided as letters are generated when parameters are met, advising the client of what is transpiring at any given point. Depending on how many investments a client has, performance of an investment and the parameters established, the client could receive several letters throughout the year(s) and feel very comfortable that the advisor is actively administering and monitoring their investments.
By implementing the TAME™ system into an advisor’s practice, the clients will know exactly what strategy is being used for each investment and this will alleviate or reduce investor anxiety in regards to how the advisor will manage their account in various circumstances in the future.
Generate New Sales:Advisors who have the TAME™ system have a distinct advantage over advisors that do not. If a client has a choice between two equally qualified advisors, which one would they choose?
An advisor that (depending on time constraints, staffing, size of client base, number of holdings in each account, etc) may contact a client to discuss an issue with a fund, OR
A TAME™ advisor, that has the ability to monitor thousands of specified parameters on a day-to-day basis and will immediately take action on the clients' behalf, based on instructions that have been discussed with the client in advance.
We feel the obvious decision is for the client to choose the TAME™ advisor that has the capability of monitoring their account on a daily basis regardless of account size, and take action accordingly in a prompt and efficient manner.
Advisor Protection From Unexpected Deviation of Performance of An Investment:
As advisors, we are only able to look at historical performance figures and quantitative data to determine the validity of investments for a portfolio. However, we have all experienced situations where a mutual fund has deviated dramatically from past trends that took us by surprise (whether by fund manager error or by external, political or world economic issues).
By having set parameters on the TAME™ system, advisors can help protect the majority of the value of an account and be provided with the necessary time to re-address the investment with the client and take appropriate action from that point.