The team of specialists, part of a larger operations department, seamlessly collaborates across business functions to provide prompt, accurate support to the advisors and clients they serve. They offer an alternative to hiring part-time staff and eliminate the need to spend time and money on training, human resources management, technology, and setup.

“This program takes the time-consuming, day-to-day tasks off an advisor’s plate,” said Jon Bohs, senior vice president of brokerage operations. “And it’s one-on-one support, not a pooled service. By gaining an intimate knowledge of the firm they’re working with, VAs recognize their advisors’ needs and work to maximize efficiencies so the advisor can focus on growing their business and training their staff for more client-facing work.”

“We started the VA Program in beta with the idea that some advisors needed help for maybe one or two days a week,” added Bohs. “But what we found was that, by getting back more time, advisors were able to identify growth opportunities or impediments and take action to make improvements. It’s exciting to see how our program has not only provided operational support but has also been a springboard for helping advisors evolve their practices.”

Advisors participating in the program are matched with a dedicated VA, who acts as a part-time staff member for the duration of a six-month agreement, which can be automatically renewed. VAs work for their advisors in 8-hour segments, up to 24 hours per week. Tasks handled by VAs include document preparation, opening and updating accounts, transferring assets, updating CRM and pulling reports, and providing direct support to an advisor’s clients. They have access to Commonwealth’s CRM and an email address at the advisor’s domain—this provides a seamless experience for the advisor’s clients. And, by understanding an advisor’s practice and processes, VAs can provide critical feedback to Commonwealth, resulting in ongoing enhancements that benefit all advisors.