What tech should you use when you go RIA?

investmentnews.com:

One of the most critical tools for any advisor going independent is ensuring they have the right technology.

Thankfully, there are several tools at their disposal. While leading CRM brands like Salesforce and Red Tail might be top priority, it ultimately comes down to envisioning your practice and knowing what the true value proposition of your practice is, says Matt Radgowski, CEO of Halo Investing, a Chicago-based financial products platform.

“Do your due diligence to make sure that those technology providers share that view and vision of the world, but also integrate well with the other offerings that you intend to provide?”

Radgowski says it’s important to not only pick best-in-class technology solutions for portfolio reporting, portfolio management, and portfolio rebalancing, but also making sure that “it’s really an optimization problem of identifying the best in class in each of those categories.”

Eric Franklin, advisor and co-founder of Prospero Wealth, says advisors who are going RIA and starting from scratch should consider an all in-one-platform that gives access to a bundle of free core services. For those who might be coming with an existing client book, he noted most advisors are also using all-in-one platforms like Advyzon, Orion, Tamarack or Black Diamond.

“Look at these big providers that are giving you investment management, CRM, fee reporting, performance reporting… and find the one that fits with your clientele and your check book, and open it up and try to put it all on one of those.”

Other advisors say starting with the custodian should be top priority.

“A custodian should be able to provide knowledge on technology vendors they would suggest or recommend,” William Nedza, financial advisor at