We frequently receive a number of inquires from prospective and existing registered investment adviser (RIA) firms looking for a guide on the current RIA technology and software offerings by category. While not a perfect guide, our new infographic should be a good starting point for most investment adviser firms.
We strongly believe that the best RIA technology systems generally utilize the customer relationship management (CRM) system as the hub of the firm’s technology and operations. There are a number of good CRM solutions out there depending on a firm’s needs. We’ve highlighted a few of them in our guide to CRM software for investment adviser firms of all sizes. In addition to customer relationship management, the other investment adviser technology categories we have currently identified are:
- Financial planning
- Marketing / lead generation
- Portfolio risk
- Portfolio management / reporting (PMR)
- Archiving
- Document management / storage
- Data / outside account aggregation
The technology and software available to investment advisory firms is rapidly evolving and we’ll plan on updating this graphic in the near future as new categories and vendors emerge.
As RIA compliance consultants, we are happy to further discuss how to transform your firm’s CRM and other technology systems into effective investment adviser compliance tools. In our experiences, investment advisory firms that successfully implement an integrated technology system tend to not only be faster-growing but also much more efficient and organized as it relates to regulatory compliance requirements.