Steve Miller • Alpharetta, GA
Steven A. Miller, Inc. • Transamerica Financial Advisors, Inc.
Aside from my own client base covering several states, ultimately, I am responsible as a branch manager for the work of multiple financial advisors across a wide geography—my schedule can get very hectic.
We gain a lot of efficiencies in our practice through our use of third-party managers.
Our broker-dealer, Transamerica Financial Advisors, Inc., does a terrific job of due diligence regarding third-party investment managers and provides a range of different options. While I obviously need to select managers appropriate to client needs and objectives, that basic legwork is done for us and done well.
Since 2005, I have been increasing the use of third-party managers in my practice. They have well-constructed risk-profile assessments that are user-friendly and facilitate matching client money with the appropriate strategies. Their reporting formats are an excellent tool with clients, as are materials helping to explain the role of active management. They also conduct advisor webinars that are helpful in fully understanding the nuances of a particular strategy.
The biggest benefit is more psychological and less tangible. I know that the active managers I choose for client portfolios are working 24/7 to monitor the performance of their strategies and the market environment.
Knowing that my clients’ assets are actively managed every single day—going short, going long, or even going into cash—frees up my time to focus on prospecting and on client retention needs.
Disclosure: Steve Miller is a registered representative and an investment advisor representative with Transamerica Financial Advisors, Inc. Securities and investment advisory services offered through Transamerica Financial Advisors, Inc. (TFA), Transamerica Financial Group Division—Member FINRA, SIPC, and registered investment advisor. Non-securities products and services are not offered through TFA.
Photography by Chris Hamilton
