|By Business Wire||
|November 27, 2012 01:26 PM EST||
The current economic environment has caused many businesses to look for opportunities to work more efficiently through technology. Registered investment advisors (RIAs) are no exception.
"RIAs are continuously looking for products and services to not only help serve their business needs, but also improve their bottom line," said Brian Davis, director of Scottrade(R) Advisor Services. "An advisor can take control over what back-end resources and technology they select, often easing the effects of the other business challenges." (Photo: Business Wire)
The 2012 Scottrade® Advisor Services RIA Study shows advisors rank acquiring the right back-end resources and technology as a top business challenge. The business challenge is only topped by client acquisition, reacting to new regulations and market volatility.
“RIAs are continuously looking for products and services to not only help serve their business needs, but also improve their bottom line,” said Brian Davis, director of Scottrade® Advisor Services. “Regulations and market volatility are ongoing challenges advisors have to react to, and earning new business is paramount in growing a business. An advisor can take control over what back-end resources and technology they select, often easing the effects of the other business challenges.”
The market volatility has left many investors with more questions than answers, particularly for younger investors. Despite having the most time until retirement and the highest tolerance for risk, the study shows RIAs report the majority of Generation X (ages 29-44) and half of Generation Y (ages 18-28) clients are maintaining their investment risk profile. The study revealed two-thirds of advisors are telling Gen X clients and three-fourths of advisors are telling Gen Y clients they will need at least $2 million saved in order to retire.
Nearly half of the advisors polled in the survey said the economy has impacted the way they have managed their business in the past year. Of those, 52 percent have invested in new software, and nearly one-third have invested in new hardware for their business.
Bryan Trochessett, of Chandeleur Investment Consulting, LLC, is one of those advisors. The six-year-old firm based in Tallahassee, Fla., recently purchased MoneyGuideProTM through Scottrade® Advisor Services. The Internet-based financial planning software helps financial advisors motivate clients to create, implement and maintain an investment strategy that best meets their financial goals.
“Technology is becoming more important as Chandeleur continues to grow,” Trochessett said. “It’s not just about creating efficiencies for me, but also having the ability to produce easy-to-read reports that my clients can understand and put into action to help prepare them for retirement.”
Planning tools for advisors are one of the most important custodial offerings for a RIA business, only behind rebalancing tools and integrated fee management, the study shows.
Smartphones, tablets and other mobile devices are becoming more commonplace in an advisor’s toolkit. While on a recent road trip, Trochessett received a call from one of his clients who had a question about his retirement account. Trochessett was able to use his smartphone to log into the client’s account, set up a personalized link to MoneyGuidePro™, e-mail the link to the client and go over the questions he had while the client was able to immediately login and get questions about his account answered.
As connectivity becomes an expectation, the technology landscape has become cluttered with a growing number of new options available. Nearly one-third of respondents said researching and selecting the right technology for their business is one of the biggest obstacles they faced when they first became an advisor.
“Technology is getting less expensive, but better,” Trochessett said. “There is a lot of commitment – both in time and money – in selecting hardware and software. You don’t want to turn around and have to buy something new every year, having to learn a new system again.”
Advisor feedback has helped Scottrade® Advisor Services expand its product availability and develop new features to meet RIAs’ needs. The business unit offers strategic resource partners – ranging from financial planning software to compliance services – to help advisors grow their business, with many offered at a discount.
“As we focus on providing engaging experiences, evolving solutions and exceptional value to our clients, Scottrade® Advisor Services has grown to be a reliable partner for more than 1,100 RIAs,” Davis said. “As a partner, advisors gain the freedom to access the tools and customer service they need to better service their clients.”
About the Scottrade 2012 Registered Investment Advisor Study
The 2012 Registered Investment Advisor Study commissioned by Scottrade® Advisor Services polled 304 registered investment advisors in a proprietary online survey from May 17-30, 2012. The national sample was selected from the Meridian IQ database, and respondents were asked to confirm current employment as a Registered Investment Advisor in order to be eligible to participate. The margin of error was +/– 5.6 percent at 95 percent confidence. The survey asked questions about a wide range of topics related to individual RIAs’ experiences over the past year in terms of client base changes and behaviors to changes to their business practices.
About Scottrade® Advisor Services
Scottrade® Advisor Services is a business unit of Scottrade, Inc., dedicated to supporting the needs of independent registered investment advisors. Scottrade® Advisors Services’ low commissions coupled with personalized customer service through dedicated relationship teams, makes Scottrade® Advisor Services an exceptional value for advisors looking to grow their practices. With no advisor enrollment fee and no minimum asset requirement, Scottrade® Advisor Services has the account management tools for advisor practices of any size. For more information, visit https://advisor.scottrade.com.
About Scottrade, Inc.
Investors who enjoy online stock trading will find value and personalized customer service at online investing firm Scottrade, Inc. Founded in 1980, Scottrade enables clients to learn about online trading tools, stock market research and how to buy stocks online, many at just $7 per trade. With more than 500 nationwide branch offices, Scottrade has the largest branch network among online brokerage firms. To learn more about one of FORTUNE magazine’s “100 Best Companies to Work For,” visit about.scottrade.com or www.scottrade.com and follow us on Facebook, Twitter, YouTube and Flickr. Member FINRA/SIPC.
Scottrade® and the Scottrade® logo are the registered trademarks of Scottrade, Inc. Other trademarks are the property of their respective owners. Opinions expressed by an advisor are their own and should not be attributed to Scottrade.
Scottrade, Inc. and MoneyGuidePro™ are not affiliated. Scottrade is not responsible for statements, offers or products issued by MoneyGuidePro™. Please research any product or service carefully before making a purchase.
All products and services are offered by Scottrade, Inc.
WHOA.com has announced the newest addition to its data center footprint with the expansion into Equinix's newest state-of-the-art facility: DC-11 Washington, DC IBX+. Located in Ashburn, VA, this data center expands Whoa.com's presence to meet rapidly expanding customer demand for secure cloud solutions. Equinix, Inc. operates International Business Exchange™ (IBX®) data centers in 32 markets across 15 countries in the Americas, EMEA, and Asia-Pacific. Equinix is committed to operating faciliti...
Mar. 30, 2015 12:00 AM EDT Reads: 1,130
SYS-CON Events announced today that the DevOps Institute has been named “Association Sponsor” of SYS-CON's DevOps Summit, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. The DevOps Institute provides enterprise level training and certification. Working with thought leaders from the DevOps community, the IT Service Management field and the IT training market, the DevOps Institute is setting the standard in quality for DevOps education and training.
Mar. 29, 2015 10:30 PM EDT Reads: 1,123
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Mar. 29, 2015 10:00 PM EDT Reads: 1,809
WSM International is launching a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. This is the first independent services company to create a dedicated practice to help organizations looking to transition to the DevOps model. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of ...
Mar. 29, 2015 07:00 PM EDT Reads: 1,538
SYS-CON Events announced today that Cisco, the worldwide leader in IT that transforms how people connect, communicate and collaborate, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cisco makes amazing things happen by connecting the unconnected. Cisco has shaped the future of the Internet by becoming the worldwide leader in transforming how people connect, communicate and collaborat...
Mar. 29, 2015 07:00 PM EDT Reads: 5,229
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things...
Mar. 29, 2015 06:00 PM EDT Reads: 1,852
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Mar. 29, 2015 06:00 PM EDT Reads: 1,485
The WebRTC Summit 2014 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
Mar. 29, 2015 06:00 PM EDT Reads: 1,596
Hosted PaaS providers have given independent developers and startups huge advantages in efficiency and reduced time-to-market over their more process-bound counterparts in enterprises. Software frameworks are now available that allow enterprise IT departments to provide these same advantages for developers in their own organization. In his workshop session at DevOps Summit, Troy Topnik, ActiveState’s Technical Product Manager, will show how on-prem or cloud-hosted Private PaaS can enable organ...
Mar. 29, 2015 05:45 PM EDT Reads: 1,257
DevOps tasked with driving success in the cloud need a solution to efficiently leverage multiple clouds while avoiding cloud lock-in. Flexiant today announces the commercial availability of Flexiant Concerto. With Flexiant Concerto, DevOps have cloud freedom to automate the build, deployment and operations of applications consistently across multiple clouds. Concerto is available through four disruptive pricing models aimed to deliver multi-cloud at a price point everyone can afford.
Mar. 29, 2015 05:00 PM EDT Reads: 957
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
Mar. 29, 2015 05:00 PM EDT Reads: 3,166
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed...
Mar. 29, 2015 04:15 PM EDT Reads: 2,438
Business as usual for IT is evolving into a “Make or Buy” decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud busi...
Mar. 29, 2015 04:15 PM EDT Reads: 1,413
Businesses are looking to empower employees and departments to do more, go faster, and streamline their processes. For all workers – but mobile workers especially – utilizing the cloud to reconnect documents and improve processes without destructing existing workflows can have a dramatic impact on productivity. In his session at 16th Cloud Expo, Mark Grilli, vice president of Acrobat Solutions marketing at Adobe Systems Incorporated, will outline new ways that the cloud is changing the way peo...
Mar. 29, 2015 04:00 PM EDT Reads: 1,333
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes ...
Mar. 29, 2015 03:30 PM EDT Reads: 2,171
Are your applications getting in the way of your business strategy? It’s time to rethink your IT approach. In his session at 16th Cloud Expo, Madhukar Kumar, Vice President, Product Management at Liaison Technologies, will discuss a new data-centric approach to IT that allows your data, not applications, to inform business strategy. By moving away from an application-centric IT model where data integration and analysis are subservient to the constraints of applications, your organization will b...
Mar. 29, 2015 03:15 PM EDT Reads: 2,562
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and eas...
Mar. 29, 2015 03:00 PM EDT Reads: 3,047
WSM International has launched a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of the organization. According to a recent press release from Gartner, "By 2016, DevOps will evolve from a niche strategy employed by large cloud ...
Mar. 29, 2015 03:00 PM EDT Reads: 1,306
SYS-CON Events announced today that Solgenia will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional S...
Mar. 29, 2015 03:00 PM EDT Reads: 2,855
SYS-CON Events announced today that QTS Realty Trust, one of the nation’s largest and fastest-growing providers of data center facilities and cloud services and a leader in security and compliance, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. QTS Realty Trust, Inc. (NYSE: QTS) is a leading national provider of data center solutions and fully managed services, and a leader in security and compliance...
Mar. 29, 2015 03:00 PM EDT Reads: 1,283