RIA Portfolio Management Software Buyer's Guide

Target Role: Principal/CIO

Target Assets: $100M-$1B

Category: RIA Technology

This guide is tailored for principals, CIOs, and operations leads at Registered Investment Advisors (RIAs) managing $100M–$1B in AUM. RIAs need tools that balance efficiency with cost while keeping client experience front and center.

Key Challenges

RIAs face a mix of operational and client-facing challenges. These include handling multi-custodian integrations, producing professional client reports, managing billing and fees, and keeping technology costs under control while scaling.

Must-Have Features

The most important capabilities for RIAs usually include:

- Multi-custodian connectivity to aggregate data seamlessly

- Automated client reporting and portals

- Rebalancing and model portfolio management tools

- Billing and fee management functions

- Integrations with CRM and financial planning software

Implementation Considerations

RIAs benefit from relatively faster implementations compared to larger institutions, often in the 3–6 month range. The focus should be on smooth data migration and ensuring custodial integrations function properly. Staff training is also crucial, especially around client reporting.

Cost Factors

Pricing for RIAs is often based on per account or per user models, rather than purely AUM-based structures. Setup costs are usually moderate, but firms should budget for ongoing expenses tied to data feeds and integrations with CRMs or planning tools.

Selection Tips

Vendor selection should emphasize practical fit. Prioritize vendors with proven custodian integrations, request sample client-facing reports, and confirm the level of service responsiveness for small-to-mid-sized firms.

Example Vendor Fit

RIAs often select RIA-focused platforms that provide strong reporting and billing capabilities, or lightweight solutions suitable for firms managing under $500M.

Next Steps

Begin by exploring vendor comparisons tailored to RIA workflows, focusing on client reporting, billing, and custodian integrations.