The landscape of RIA technology has become increasingly crowded, but the recent shock of the COVID-19 pandemic has catapulted advisors into a new understanding of the importance of efficient technology and digital client engagement. The technology is now evolving to address market dynamics, new challenges, and the needs of advisors’ end clients. Vendor platforms have a primary focus on portfolio management and reporting, but data consolidation, business intelligence, and new RIA service models have also emerged as keys to an evolving value proposition. A new Aite Group report, Aite Matrix: RIA Portfolio Management and Reporting Systems, examines the market for RIA portfolio management and reporting systems.

“Core functionality across advisor reporting and portfolio management platforms has been somewhat commoditized, and vendors are now pivoting to add value by enhancing the user experience and allowing for greater customization of the advisor interface and report layout, and increased flexibility in the client proposal system,” explains Greg O’Gara, senior analyst at Aite Group. “The platforms increasingly support an advisor’s unique investment style, reporting demands, tailored content, and workflow,” he adds.

Leveraging the Aite Matrix, a proprietary Aite Group vendor assessment framework, this Impact Report evaluates the overall competitive position of seven vendors, focusing on vendor stability, client strength, product features, and client services. It profiles eight vendors: Addepar, BNY Mellon Albridge, SS&C Advent Black Diamond, Broadridge, InvestCloud, Morningstar Office Cloud, Orion, and Envestnet Tamarac.