IT Solutions for the Independent Advisor

Advisors moving toward independence have an array of decisions to make. You easily could find yourself outside your comfort zone, making it necessary to hire an experienced consultant, such as TruClarity, not only during your transition but as a partner to stand by your side as you grow your RIA.

In any modern office, technology-related decisions are crucial. In the independent financial space, these decisions become even more demanding with a plethora of third-party software platforms required to manage clients. Basic office functions and Financial Technology (FinTech) software must work well and seamlessly together. Running an independent office efficiently and with up-to-date resources and technology can be the difference between success and failure.

As an independent advisor, you have the opportunity to outfit your firm’s information technology from the ground up. Once you select an office space, it is time to plan the build-out. There are many questions to ask yourself: Do you have an IT infrastructure plan that includes where you will place computers, phones, monitors, TV screens and more? Do you have the correct network wiring and power outlets in place? Which devices need a wired connection versus a wireless connection? Have you researched the available cable and phone network providers in your area? What is the appropriate internet speed? These questions are only the beginning.

Stan Newton, CEO of TekRidge, TruClarity’s information technology support strategic partner, works alongside independent advisors to provide solutions as they open their RIAs. Newton notes that there are great benefits of having an IT infrastructure plan, the biggest being savings. “When you know from the beginning what your IT plans are, your systems will be scalable and flexible, making it easier to strategize for future technology needs.”

“The less a firm has to look at IT, the more time it can spend on the day-to-day, keeping the office running efficiently and connecting with clients. Problems with technology can bring the independent office production and client support to a complete halt,” says Newton.

After initial decisions like selecting printers, fax machines, scanners and other basic necessities, TruClarity helps advisors make decisions regarding office suite needs, such as selecting computer brands, communication systems, internet file sharing and archiving, and backroom functions with software and security support.

Selecting these basic tools early in the game is key. “We are here to help advisors make decisions well in advance so that staff can be trained and comfortable before opening. And we stay with the advisor and the new firm for continual training as needed and as systems advance,” says Newton.

Once the infrastructure plan is in place, the foundation is laid to begin proper ongoing support and the inevitable IT evolution of the independent office. Having a strategic IT partner, one which is constantly monitoring new rollouts and new tools, allows RIAs to stay current. Pam Stross, president of TruClarity Management Solutions, says, “We understand the industry and its demands.”

Newton added, “Ultimately, when you have IT infrastructure in mind from the start and the right experts to help you execute a well-designed plan, as an independent advisor you can have a successful launch and focus on serving your clients.”

TruClarity is the advisor’s solution for independence and life beyond the leap.

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