Document Management Technology takes an in depth look at technology solutions for registered investment advisors (RIAs) in this new era of capital market returns.
Findings conclude that independent investment advisors are quickly becoming the dominant form of advice delivery in the U.S., with more than $2.1 trillion in assets. However, most advisors don’t realize that document management software can help expedite workflow; improve audit, security, and compliance requirements; save money; and even help reduce their carbon footprint.
“RIA advisory firms are seeing declines in revenue from market volatility, along with increased workloads as a result of new client engagements, and added business from disaffected clients of Wall Street firms,” said Tim Welsh, CFP®, President of Nexus Strategy, LLC and Laserfiche financial vertical consultant. “Historically these advisors haven’t invested aggressively in technology; however, today the mandate is clear that in order to stay successful, advisors need to increase their capacity through technology.”
Laserfiche is an advocate for educating advisors to embrace technology and solve their business processing needs. Laserfiche research has found that firms can achieve a 9% reduction in overhead cost through document imaging technology, yet recent industry studies report less than 20% have a system. To bridge this gap, this new report will provide insight and analysis on ways advisors can immediately implement technology to solve their business profitability and growth issues, including:
- Solutions are more affordable than most advisors think due to recent enhancements in technology.
- Advisors don’t have to be experts—they can rely on local community based solution providers to make training and implementation easy.
- There are simple solutions for advisors who are storing documents in a non-compliant manner.
- The longer advisors wait to begin with document management technology, the bigger the operational challenge becomes.
This new white paper from Laserfiche provides financial advisors with the key steps they need to take to create a successful financial firm.
Disclaimer: This blog or article is for information purpose only, and should not be treated a professional advise or price protection guarantee. This blog is mainly used for search engine optimization and other commercial purposes and it is advised that readers seek professional consultation in the field of interest for more information.
