The Three TAMP Non-Negotiables No One is Talking About

Published May 26, 2022

The industry at large spends a lot of time focusing on the “P” in TAMP—that is, the Platform’s technology features and capabilities. And we aren’t denying the critical importance of cutting-edge technology to help advisory firms streamline operations, relieve back-office burdens, and deliver a differentiated client experience.

But the often-overlooked intangible components of a TAMP actually form its foundation and determine whether it will drive success for advisory firms.

You won’t find these three non-negotiables bringing home industry awards, but they’re truly the best indicators of whether a TAMP is the right fit for your firm.

A Service-Oriented Mission

Let’s get this out of the way firs: every TAMP and tech platform claims to be service oriented. But true service goes beyond onboarding or support tickets, it influences every aspect of your relationship.

A service-oriented TAMP will consult with you before you even sign your contract to make sure they understand your needs and what you’re trying to accomplish using their platform, as well as the tasks that make sense to offload, and those that you might want to retain in house.

And that high-touch investment in your success shouldn’t stop with an initial consultation and adoption. You should be able to turn to your TAMP for ongoing guidance as your business changes, whether you’re adding new offerings, scaling your firm, strategizing mergers and acquisitions, or penetrating a different market.

Passionate, Experienced People

It goes without saying that the TAMP’s mission begins with its people and their passion. Service as a core value needs to be fully baked into the culture of the TAMP.

But even true dedication to providing exceptional client service isn’t quite enough. For that support to be effective, it must be backed up with industry experience. A true technology partner will be able to act in a consultative role to advisory firms. Guiding them to growth, new service offerings, and more efficient practices depends upon having the industry knowledge and expertise to understand a firm’s unique goals and challenges, as well as what the broader investment management landscape looks like.

Expertise and industry tenure, however, shouldn’t be confused with simply doing things the way they’ve always been done. Advisory firms also need to be able to rely on their tech partner to stay a step ahead of industry trends so they can remain competitive as investors’ expectations evolve. A proactive TAMP partner will, for example, update advisors on new functionalities and consult on how best to weave them into their operation.

Innovation for the Right Reasons

To help advisory firms offer the modern experience today’s clients are looking for, TAMPs need to be willing to continuously innovate. Building a legacy platform and then running it the same way for 20 years isn’t good enough, nor is cobbling together add-on solutions or integrations that create fragmented workflows – we like to call this Frankenstein-ing.

The tech itself needs to be flexible enough to adapt to an ever-changing landscape–and just like service, a willingness to innovate has to be baked into the culture.

But innovation doesn’t mean flashy features that do little to create real efficiencies (or instead actually disrupt service). A truly innovative TAMP looks for ways to improve operations and functionality seamlessly in the background, not for ways to make the biggest media splash.

The TAMP Trifecta: People, Service, and Innovation

Each of these non-negotiable elements feeds into the others to create a continuous cycle of efficiency and guidance for advisory firms. Together, dedication to service and industry expertise enable innovation that aligns with investor expectations and evolving advisor needs.

Learn more about why GeoWealth is the advisor’s TAMP. Get in touch today to talk with our team about how our approach to partnering with advisory firms drives efficiencies and growth.


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