|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.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Aug. 3, 2015 04:00 PM EDT Reads: 275
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Aug. 3, 2015 03:45 PM EDT
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Aug. 3, 2015 03:30 PM EDT Reads: 238
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
Aug. 3, 2015 03:30 PM EDT
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Aug. 3, 2015 03:30 PM EDT
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Aug. 3, 2015 03:15 PM EDT
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Aug. 3, 2015 03:00 PM EDT Reads: 560
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Aug. 3, 2015 12:30 PM EDT Reads: 207
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Aug. 3, 2015 09:45 AM EDT Reads: 368
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Aug. 3, 2015 07:30 AM EDT Reads: 191
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Aug. 2, 2015 10:00 PM EDT Reads: 684
Take the Long View with Digital Transformation By @IoT2040 | @ThingsExpo #IoT #M2M #API #Microservices #InternetOfThings
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Aug. 2, 2015 06:00 PM EDT Reads: 1,137
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 2, 2015 05:45 PM EDT Reads: 520
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Aug. 2, 2015 04:00 PM EDT Reads: 435
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Aug. 2, 2015 11:45 AM EDT Reads: 489
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Aug. 2, 2015 09:00 AM EDT Reads: 1,701
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Aug. 1, 2015 10:00 AM EDT Reads: 344
[slides] A New Architecture for the Internet of Things By @JKirklan | @ThingsExpo @RedHatNews #IoT #M2M #InternetOfThings
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Jul. 30, 2015 07:30 PM EDT Reads: 1,425
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Jul. 30, 2015 06:00 PM EDT Reads: 1,830
[slides] Workloads and Public Cloud at @CloudExpo By @utollwi | @ProfitBricksUSA #DevOps #Containers #Microservices
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
Jul. 30, 2015 04:00 PM EDT Reads: 2,243