Where advisers need to go to find new technology

This year’s Technology Tools for Today (T3) conference was the largest ever, and the access to the exhibit hall alone was worth the price of admission. T3 is simply the place to be for advisers looking to apply or improve technology in their practices.
Sessions included demos by particular software providers as well as panels on topics ranging from portfolio management and rebalancing to creating the firm of the future and risk analytics. The exhibit hall contained representatives from every possible type of RIA technology. Examples of technology tools on display were:
• Firm management tools: Archiving, document management, compliance
• Marketing tools: Website development, branding and content providers
• Financial planning tools: Financial planning software for advisers as well as client-facing tools
• Portfolio management tools: Portfolio accounting software, CRMs, rebalancing software
• Communication tools: Client portals, social media
• Risk analysis tools: Stress testing solutions, portfolio constriction and risk tolerance tools
• Robo components tools: Online client solutions, interactive planning tools
These are just some of the categories and types of exhibitors. Confusing? Yes! Overwhelming? Yes! How does an adviser take advantage of a conference like T3? I have a few recommendations:
• Know what particular software you’d like to explore. If you want to revisit any of your current software, come prepared with the list of features you’d like and what you want to avoid. T3 is the perfect place to comparison shop.
• Attend sessions to expand your horizons. Select topics that are outside of your comfort zone. This can help you keep your finger on the pulse of the industry and give you ideas.
• Check out at least one emerging technology in the exhibit hall. The newest technologies can give your firm the edge or give you food for thought!
Above all, don’t bite off more than you can chew. It’s better to learn about and make decisions on a few items than to allow yourself to get overwhelmed.
Sheryl Rowling is chief executive of Total Rebalance Expert and principal at Rowling & Associates. She considers herself a nontechie user of technology.