The best RIA account management software tools

investmentnews.com:

Back in 1940 when the first RIAs were established, there was no such thing as computers, or account management software, much less an RIA tech stack. These days, companies like RIAs are fortunate to have all the tech tools available to assist in crucial tasks, such as account management. 

As you build and develop your RIA’s tech stack, you’ll find that apart from a CRM tool, account management software is just as important to your RIA practice. Good account management software is very important for any sales team to do their customer relationship management tasks and ensure customer retention.  

According to the President of Orion Advisor Technology Brian McLaughlin, “the number of technology solutions in the independent advisor space can be overwhelming. There are a lot of options, some of which are advisor-specific and others that are more general. When advisors attend large industry conferences, they can see upwards of 100 technology vendors.” With this many choices, how then, does an RIA choose the best-suited account management software?  

To help RIAs make this crucial decision, InvestmentNews lists some of the best account management software RIAs can choose from.  

Before running down the list, what is account management software and why is it important? 

It’s a software tool that helps companies, especially RIAs, to unify their business processes with their available customer data. A good account management system is important, since it can allow RIAs to:  

These functions are typical of many accounts management software. There are tools that can be more flexible and serve your RIA’s needs and give the best client outcomes in various ways. That said, here are 5 of the best account management software to choose