In June, more than 1,300 advisers responded to an InvestmentNews survey on their technology usage and satisfaction. The results below show the most popular products across seven software categories, as well as advisers’ overall satisfaction with the products they use. “None” describes the percentage of respondents who do not use any software in that category. Breakouts also include advisers’ overall satisfaction with the software.
Top 5 CRM products
|
Products |
% of advisers using |
| 1 |
Redtail (Redtail Technology) |
39.5% |
| 2 |
Junxure (CRM Software Inc.) |
19.2% |
| 3 |
Salesforce CRM (Salesforce.com, includes versions offered by Schwab, TD Ameritrade, XLR8 and AppCrown overlay products) |
9.8% |
| 4 |
Microsoft Dynamics CRM (Microsoft Corp., includes Tamarac’s Advisor CRM and that from Salentica) |
4.5% |
| 5 |
Grendel Online (Big Brain Works LLC) |
3.7% |
| |
None |
13.5% |
| Satisfaction levels |
% of advisers |
| Very satisfied |
33.4% |
| Satisfied |
41.9% |
| Indifferent |
15.9% |
| Dissatisfied |
6.7% |
| Very dissatisfied |
2.1% |
| |
|
Top 5 financial planning products
|
Products |
% of advisers using |
| 1 |
MoneyGuidePro (PIETech Inc.) |
45.5% |
| 2 |
eMoney360 (eMoney Advisor) |
11.9% |
| 3 |
Morningstar Advisor Workstation (Morningstar Inc.) |
5.4% |
| 4 |
NaviPro Planning Suite (Zywave) |
4.6% |
| 5 |
Adviser created (custom) |
3.3% |
| 5 |
Finance Logix (OLTIS Software LLC) |
3.3% |
| |
None |
11.4% |
| Satisfaction levels |
% of advisers |
| Satisfied |
48.0% |
| Very satisfied |
37.5% |
| Indifferent |
11.3% |
| Dissatisfied |
2.5% |
| Very dissatisfied |
0.8% |
Top 5 portfolio management products
|
Products |
% of advisers using |
| 1 |
PortfolioCenter (Schwab Performance Technologies) |
20.0% |
| 2 |
Broker-dealer platform |
18.4% |
| 3 |
Albridge Wealth Reporting (Albridge Solutions Inc.) |
16.5% |
| 4 |
Morningstar Office (Morningstar Inc.) |
11.9% |
| 5 |
Morningstar Principia CAMS (Morningstar Inc.) |
5.5% |
| |
None |
17.4% |
| Satisfaction levels |
% of advisers |
| Very satisfied |
23.1% |
| Satisfied |
49.1% |
| Indifferent |
17.2% |
| Dissatisfied |
8.4% |
| Very dissatisfied |
2.3% |
Top 5 portfolio rebalancing products
|
Products |
% of advisers using |
| 1 |
Broker-dealer platform |
27.5% |
| 2 |
Adviser created (custom) |
21.5% |
| 3 |
Advisor Rebalancing (Tamarac Inc.) |
10.8% |
| 4 |
Schwab Portfolio Rebalancer (Schwab Advisor Services) |
9.9% |
| 5 |
TRX (Total Rebalance Expert) |
6.6% |
| |
None |
55.0% |
| Satisfaction levels |
% of advisers |
| Very satisfied |
26.9% |
| Satisfied |
44.2% |
| Indifferent |
20.2% |
| Dissatisfied |
7.0% |
| Very dissatisfied |
1.7% |
Top 5 document management products
|
Products |
% of advisers using |
| 1 |
LaserApp (LaserApp Software Inc.) |
23.5% |
| 2 |
Broker-dealer platform |
16.5% |
| 3 |
Redtail Imaging (Redtail Technology Inc.) |
12.4% |
| 4 |
Laserfiche (Laserfiche) |
6.4% |
| 5 |
Worldox (World Software Corp.) |
5.8% |
| |
None |
32.8% |
| Satisfaction levels |
% of advisers |
| Very satisfied |
28.3% |
| Satisfied |
46.1% |
| Indifferent |
20.7% |
| Dissatisfied |
4.6% |
| Very dissatisfied |
0.4% |
Top 5 compliance products
|
Products |
% of advisers using |
| 1 |
Broker-dealer platform |
47.2% |
| 2 |
Outsourced |
24.4% |
| 3 |
NRS ComplianceMAX (National Regulatory Services) |
8.3% |
| 4 |
Compliance11 (Compliance 11 Inc.) |
3.6% |
| 5 |
ProTracker Narrative Form ADV Part 2 Template (ProTracker Software Inc.) |
2.9% |
| |
None |
33.9% |
| Satisfaction levels |
% of advisers |
| Very satisfied |
20.4% |
| Satisfied |
45.6% |
| Indifferent |
28.8% |
| Dissatisfied |
4.3% |
| Very dissatisfied |
0.9% |
Top 5 account aggregation products
|
Products |
% of advisers using |
| 1 |
Albridge Wealth Reporting (Albridge Solutions Inc.) |
25.0% |
| 2 |
ByAllAccounts Inc. |
22.5% |
| 3 |
eMoney 360 (eMoney Advisor) |
17.3% |
| 4 |
Adviser created (custom) |
9.4% |
| 5 |
AllData Advisor (CashEdge, now part of Fiserv) |
4.6% |
| |
None |
44.1% |
| Satisfaction levels |
% of advisers |
| Very satisfied |
20.4% |
| Satisfied |
47.7% |
| Indifferent |
21.6% |
| Dissatisfied |
8.4% |
| Very dissatisfied |
1.9% |
Source: InvestmentNews Data
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