Crafting a robust and efficient tech stack tailored to the specific requirements of an RIA firm is no longer merely advantageous – it's a strategic necessity.
From streamlining operations to enhancing client experiences and ensuring regulatory compliance, the components of an RIA tech stack play a pivotal role in driving growth and success in the wealth management industry.
I caught up with Kayla Kobelin of Ascent Capital and she stressed the importance of building a tech stack that empowers firms to achieve their business objectives while delivering unparalleled value to clients. Click the video below to watch the full interview.
Transcript:
I think one of the biggest challenges is the fact that there are tech stacks and you can layer all your tech stacks together – and some talk to each other, some don't. It kind of creates this lack of continuity within all of the tech stack. When you're trying to get one to talk to each other, one might and one might not – it doesn't really create this seamless day-to-day process. Not only when it comes to like tasks and workflows but just like basic client service stuff, gathering client information, things like that.
Honestly, coming to T3 is a great way to start because there are so many options here that either you've never heard of or they’re up and coming or you might just have never seen them before. Asking the right questions and figuring out how they integrate – like open APIs versus like an all-in-one solution is super, super interesting. I think it's important that just because you're doing something the way you've always done it doesn't mean maybe that's the most efficient way. And this is a great opportunity to come here and find out – maybe we're doing something wrong or missing something and how we can be more efficient.
A great action item would be to just ask questions – ask, ask, ask – everyone's here, and everyone's super helpful, they're all willing to help and I think it's a great opportunity to start.
