Hiring an assistant can free up your time to focus on what you do best to build your practice. This addition to you staff can result in an increase in the number of clients you serve, better client service and greater revenue.

Some advisors, especially those in small firms, often do not see the need to hire an assistant, thinking they need to wait until they grow in size before doing so. Often, cost is the overriding consideration for these advisors, because they want to maximize their cash flow.

“Once advisors do hire an assistant, they come to the realization that they should have done so much earlier,” says Jeff Woolley, president of Global View Capital Advisors in Burlington, Ont.

Here are five reasons why you should hire an assistant:

1. It is an investment, not a cost
An assistant should be viewed as an investment, not an expense, Woolley says. They do come at a cost, but the value of their contribution to your increased productivity outweighs that cost.

“For most advisors,” Woolley says, “their time is worth more than the cost of an assistant.”

A good assistant in a well organized practice can contribute to an increase in profitability over time by enabling you to concentrate on higher-revenue generating activities, such as networking with prospects and meeting with clients.

2. Enhanced efficiency
An assistant can enable you to provide a higher quality of service and improve the efficiency of your practice.

“They can relieve you of tasks you don’t like doing,” Woolley says. “You simply delegate those tasks to your assistant.”

Depending on assistants’ responsibilities, they can perform a variety of administrative tasks, such as scheduling appointments, handling inquiries and maintaining files. And, if an assistant is licensed, he or she can take orders, execute trades, conduct client interviews, deal with compliance issues and even serve smaller clients.

By having an assistant to perform these, tasks you will have more time to focus on growing your practice through client-facing time, Woolley says.

3. You will have a secondary point of contact
When you are out of the office or meeting with other clients, Woolley says, an assistant can relieve you of the burden of having to follow up with clients who are trying to reach you. Your assistant can provide your clients with a “live voice” on the phone — or meet with them.

“An assistant is an upgrade to your client service,” he adds.

4. You will look more professional
Having an assistant makes your practice look like a bigger, more professional operation, Woolley says. When you demonstrate that you are not a one-man show, clients can take comfort that you have back-up staff.

You can refer clients to your assistant when you’re busy or to deal with minor issues.

5. An assistant can be part of your growth plan
You should include an assistant as part of your long-term plan to grow your business. Determine how a assistant’s roles and responsibilities can help you execute tasks and achieve specific objectives. Then, Woolley says, “Budget for their cost.”

See also: The right fit