Wealth management

RIA technology platform

Meet rapidly changing client and industry demands with market-leading data, better insights on demand and a truly open platform that provides a seamless digital experience.

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The industry is changing. There’s new competition, the ever-growing threat from robo-advisors and the effect fee compression is having on margins. Couple that with digital transformation and communicating with clients virtually and the pressure on advisors continues to increase.

These changes are forcing advisors to rethink their business strategy and client engagement. If advisors are not proactively engaging with their clients and demonstrating their value they stand to lose clients. Those that do adapt will realize a host of benefits, including better client relationships; more successful engagement; and improved customer loyalty, to name but a few. Ultimately these benefits will help foster stronger long-term relationships and business growth for those that are willing.

Why is technology a critical consideration for RIAs?

A Registered Investment Advisor (RIA) has a fundamental obligation to provide advice that acts in the best interest of their high-net worth clients. In order to achieve this in todays digital first environment, advisors need to ensure they have the tools and technology to provide the best advice possible and consistently demonstrate their value.

Technology is constantly evolving to address market dynamics, new challenges, and the needs of end-client investors served by advisors. As the industry evolves and new RIA service models evolve, critical focus areas for advisors remain portfolio management and reporting functionality.

A recent report from the Aite Group estimated that “IT spending on the RIA market for advisor portfolio management and reporting systems is roughly US$956 million in 2020.”

With the vast amount of new data available every second, portfolio tools need to analyse and generate tailored insights directly related to client portfolios in real-time. Portfolio analytics, coupled with the ability to instantly generate customized reports based on market insights and portfolio movements are making advisors more efficient, while improving client engagement and long-term growth.

Wealth advisors are under great pressure to shift away from run-of-the-mill offerings and develop unique experiences for their clients. Advisors that get this transition right will improve the value proposition they offer their clients and at the same time be in a good spot to differentiate from their competition.

Our solution

A one stop shop for RIAs from client acquisition to engagement and retention

Designed to meet rapidly changing client expectations and industry demands, Workspace for Wealth Advisors delivers a unique and customized workflow solution for RIAs.

Our new flagship solution provides efficient advisor tools, better insights on demand and more personalized advice, helping advisors address their clients' desire for greater engagement and personalization in todays digital world.

The cutting-edge technology and open platform, combined with Refinitiv's market-leading data and analytical tools help advisors grow their business and be more productive throughout their workflow - from winning new business to asset allocation and recommendations, through to portfolio monitoring and performance reporting.

Benefits

How Workspace can help you

Seamless access across all your devices

The fast and light web technology allows for quick and secure access from anywhere and seamlessly syncs across desktop, web, mobile and tablet.

Stay up-to-date with tailored insights

With advanced portfolio analytics, monitor all your client portfolios intraday, instantly find relevant news and track their performance, while making adjustments in real-time.

Alternative data to add more value

With data sets such as ESG and market sentiment, we help you improve client engagement, provide differentiated advice and deliver greater value to your clients.

Resources

Learn more with our resources

Special report

The Transformation of Wealth Management: Five trends for 2020 and beyond

Discover why high-touch engagement and a truly personalized client experience are more in demand than ever and key for future success, with 90% of respondents having recently reviewed or revised their client segmentation models in favour of a more personalized approach to ensure client-centricity.

Find out more

On-demand webinar series

Moving beyond turbulence

This 3-part webcast series helps you understand industry implications and what tools and capabilities will be essential for wealth managers to navigate through uncertain times and move forward successfully.