As more financial advisors consider moving to a flat fee-based business model, they may want to outsource their back-end administrative and investment management functions to a turnkey asset management program or TAMP.

TAMPs can be offered as stand-alone products or as a platform in which financial advisors can direct clients' retirement savings to different investment models for a fee. Fees are typically low because they are spread across all of the assets managed.

As the world of financial advice gets more competitive, TAMPs are a way for financial advisors to do what they do best, which is interact with clients and help them make the best financial decisions for their retirement.

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