The effects of each business model boil down to where advisers dedicate their resources and time, according to the study. Firms that outsource investment management spend on average more than double the amount on advertising and marketing than their counterparts that do their own investment management. Outsourcers also spend 12% of their time meeting prospects and 37% meeting existing clients, compared with 6% and 20%, respectively, for those doing their own investment management. “When we first started looking at the data, a lot of the data looks similar," said Brad Bueermann, chief executive of FP Transitions "Where [the advisers] deviate is where they spend their time.”

http://www.investmentnews.com/article/20161010/FREE/161019993/advisers-who-outsource-investment-management-make-more-money-than