TLDR: What is Back Office Support?
- Back office support covers behind-the-scenes business operations like billing, compliance, and data management
- It’s essential for efficiency, but often time-consuming and repetitive
- Outsourcing back office support services offers cost savings, scalability, and more client-facing time
- FocusPoint Solutions provides customized back office support for financial advisors
- The right partner becomes an extension of your team, improving workflows and business growth
In the fast-paced world of financial services and small business management, one of the most valuable assets you can have is time. But when your office team is bogged down with time-consuming administrative tasks, it’s hard to focus on growing your business. That’s where back office support comes in.
So, What is Back Office Support?
Back office support refers to all the behind-the-scenes operations that keep your business running smoothly—things like data management, billing, compliance tracking, and order processing. These support functions don’t directly interact with your customers, but they’re essential to keeping your business operations efficient and compliant.
For financial advisors and other professionals, back office support services allow you to shift your energy from repetitive tasks to more meaningful, client-facing work. It’s a powerful office solution for firms looking to grow while still providing top-tier service.
Why Outsourcing Your Back Office Makes Sense
Many companies, especially small businesses, struggle with the daily grind of office work like paperwork, billing, and customer account management. That’s why more and more firms are turning to back office support companies to handle these essential—but draining—tasks.
Here are a few reasons to outsource back office support:
- Cost savings: Hiring and training an in-house team can be expensive. Outsourcing back office services cuts overhead while maintaining high service levels.
- Improved efficiency: Dedicated experts streamline workflows, reduce errors, and speed up processes.
- More time for clients: With your office team free from back-end work, they can concentrate on customer-facing interactions that grow the business.
- Scalability: As your business grows, office outsourcing services can scale with you—without the stress of internal hiring or expansion.
What Do Back Office Support Companies Do?
The service offerings of a back office partner can be incredibly comprehensive. For instance, a provider like FocusPoint Solutions supports financial advisors with a full range of back office support solutions, including:
- Account setup and maintenance
- Client billing and reporting
- Investment model trading and rebalancing
- Liaison with custodians to resolve issues
- Documentation and compliance assistance
- Customized reporting and cost basis tracking
In addition to financial tasks, back office support services may also include human resources, IT support, and data management—all tailored to reduce your workload and improve your output.
Choosing the Right Partner
Not all support companies are created equal. When selecting a back office partner, look for a firm that aligns with your values and understands your business model. True support solutions don’t just check boxes—they become a natural extension of your team.
The best back office support service providers, like FocusPoint Solutions, offer more than just processing help. They work closely with you to improve operations, enhance compliance, and ensure every part of your firm runs like a well-oiled machine.
In Summary:
If you’ve been asking, “What is back office support?”—it’s everything your business needs to run efficiently behind the scenes. And by outsourcing your back office, you give yourself the freedom to focus on what matters most: your clients and your growth.
Want to learn how back office outsourcing can transform your firm? Reach out to FocusPoint Solutions today.