What if you could outsource all of the burdensome administrative tasks and focus on growing your bottom line? Convergent Wealth Advisors has introduced a program with that in mind.

The Washington, D.C., based wealth manager, which has over $10 billion in assets under management, announced Tuesday it launched Catapult by Convergent, a program designed for RIAs to relieves the burdens of marketing, research, technology, reporting, compliance, and client service.

But with the added convenience comes a caveat: advisors will be selected based on their specialized skill sets, the portability of their books of business, and their fit with the Convergent team, according to a company statement.

“Cultural fit, entrepreneurial passion, and niche skills are the essential ingredients,” said Douglas Wolford, Covergent's president and chief operating officer.

Selected advisors will have an opportunity to grow their income within a larger capacity environment, and gain the knowledge to successfully work with some of the nation’s wealthiest individuals.

“Running a small advisor shop can be fulfilling – but also quite limiting. At some point, the time spent on administration becomes so great that advisors can no longer do what they love to do,” says Wolford. “We plan to let them offload those responsibilities to get back to what got them into this business in the first place.”

The Catapult program is catered towards advisors with ultra-high net worth clients, and signifies a new addition to Convergent's organic growth strategy. A new hire to head this program will also be announced next week, Wolford said. 

“Our aim is to build a better company—not just a bigger company. Our vision is to be the most trusted wealth advisor in this industry,” he said.

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