Survey Reveals "Must-Have" Technologies

The results of a recent survey of financial advisers reveal the "must-have" technologies for running a more efficient and profitable advisory business.  

According to the ByAllAccounts survey, the top five technology solutions deployed in-house or through an application service provider are: 

  • Portfolio management/performance reporting (83.6%);  
  • CRM tools/client reporting (71.2%);  
  • Trading (57.4%);  
  • Financial/estate planning (56.8%); and 
  • Rebalancing/asset allocation (51.4%). 

ByAllAccounts asked advisers about the importance of bringing financial account-level data into the five technology solutions above. Three out of four respondents claimed to be actively bringing account-level data into their portfolio management/performance reporting systems; of that number, 68% are doing so daily. Forty-five percent say they are using account aggregation technology to bring the account-level data into portfolio management/performance reporting systems. 

According to the survey report, the results suggest that account aggregation technologies are becoming an increasingly important part of the overall technology mix for many RIAs. Many advisers rely on new technologies to help their firms run smoothly, streamlining operations as they advise existing clients and pursue prospectives. Some firms are even integrating technology solutions to open entirely new revenue streams, going beyond simply viewing client’s held-away assets to advise on those and bill for that service. 

For more information on the survey, visit