Advisor Resources | Betterment for Advisors

What’s new from Betterment Advisor Solutions Jun 30, 2025 6:06:27 PM Discover the latest products and features launched in Q2 2025, designed to give advisors more control, flexibility, and transparency. Table of Contents Portfolio management Billing SBLOCs Advisor experience New Advisor Exchange episode We’re continuously building out new tools and enhancements to help you work smarter not harder. In Q2, we introduced a wave of powerful updates—including a major acquisition and new portfolio management features designed to give you greater control and customization with less manual effort. Expanded support for legacy and concentrated positions Build custom models with ETFs, mutual funds, and now single stocks. Our latest update gives you more control without adding complexity and helps you: Bring legacy and held-away assets into a long-term strategy—powered by TLH, rebalancing, and smart withdrawals that minimize the tax impact. Use sell-only substitutes with ETFs, mutual funds, and single stocks to unwind concentrated positions gradually. You can leverage sell-only substitutes when incorporating your clients' legacy positions into your target model's asset allocation, without buying additional shares during rebalancing. Here’s what’s changed: More control over rebalancing: This functionality allows you to add additional tickers to your security groups for greater control over rebalancing behavior in your custom model portfolios. Tax-efficient exposure: Betterment will help reduce exposure over time according to your instructions with our tax-efficient algorithms. Read more about sell-only substitutes. The future of portfolio management Our recent acquisition of Rowboat Advisors, a portfolio optimization software, paves the way for direct indexing capabilities on the platform. Over the coming months, we’ll be introducing new features that deliver more customization, intelligent automation, and enhanced flexibility to support your firm’s unique needs. Be on the lookout for: Tools for more transparent trading: Run sophisticated simulations and use critical data to better understand trade impacts and make more informed decisions. Expanded portfolio options: Create and edit portfolios with a wider range of options that work seamlessly with rebalancing, tax-loss harvesting, tax-smart portfolio transitions, asset location and intelligent withdrawals. Watch our latest webinar to learn more about what’s to come in 2026, including UMAs and direct indexing. Reduced ACH payment timelines Big news: We’ve shortened our payment processing time from 12 days down to just 5 business days. You’ll get paid sooner, with more transparency. With billing and fee tracking fully integrated into the platform, it’s easy to see exactly what you’re owed each cycle—no spreadsheets, no guesswork. The result: a cleaner more efficient, billing experience that helps you stay compliant, minimize error, and save time. Upgraded mutual fund transactions Give your clients the clarity and confidence they expect when moving assets, with updates that: Eliminate withdrawal discrepancies due to fluctuating Net Asset Value (NAV). Improve fee-assessment precision, reducing the risk of over/undercharges and aligning with regulatory expectations. Simplify tax reporting for clients by ensuring the amount withdrawn matches the amount received. A faster lending solution Securities Backed Lines of Credit (SBLOCs) with Betterment Advisor Solutions give your clients access to the value of their Betterment assets as lines of credit without liquidating investments. Fast and flexible for your clients: It’s a simple, automated application process, giving your clients immediate access to their credit line after approval. Streamlined for your firm: Leverage an integrated borrowing solution that complements your investment management practice. Register for our webinar to learn more and explore how SBLOCs can become a valuable tool for serving high net-worth clients. Save your seat Securities-Backed Lines of Credit (SBLOCs) are offered by The Bancorp Bank, N.A., Member FDIC, to Betterment clients. Betterment is not a bank. See more in disclosures. Guided client tours for winning new plans Win prospects and onboard with confidence with our new Clients Tours tab. This highly requested update enables you to give plan sponsor clients a guided demo around our platform. Access client tours in the left rail of your advisor dashboard. Planning strategies for the equity-rich and cash-constrained Client. Views may not be representative. See reviews at G2. In our latest episode of The Advisor Exchange, Natalie Taylor, CFP®, founder of the Goodland Group, discusses how she maximizes planning for an underserved segment: mid-career tech professionals with complex equity compensation packages. From navigating RSUs and AMT to rethinking the AUM model and scaling with values-based planning, Natalie shares the strategies, tech, and mindset that have shaped her fast-growing firm. Watch now. It’s been a busy year—see what we launched in Q1, or get in touch with our team to learn more. Book a demo.

What's new from Betterment Advisor Solutions

What's new from Betterment Advisor Solutions Apr 4, 2025 9:35:50 AM Discover the latest products and features launched in Q1 2025, designed to enhance user experience, drive innovation, and meet the needs of financial advisors. Table of Contents Solo 401(k)s Billing Plan advisor improvements Account aggregation Advisor Exchange We’re excited to share a range of powerful platform updates, designed to help improve and streamline your client-management tasks. From a new solo 401(k) built for the self-employed to flexible billing options and improved account aggregation, check out all the latest upgrades. And, don’t miss our new video series Advisor Exchange, hosted by Tom Moore (more on that below). A better solo 401(k) is here We’re excited to share that solo 401(k)s are now available on our platform. With higher contribution limits (compared to SEP and SIMPLE IRAs) and no income restrictions, solo 401(k)s can help you maximize retirement savings for your self-employed clients. Offering solos can help you: Expand your service offering. Attract clients with self-employment income and solo business owners. Streamline wealth management. Consolidate clients’ accounts in one place, fostering more holistic planning. Strengthen client relationships. Provide diverse, tax-efficient retirement solutions and long-term planning. The Betterment solo 401(k) features: Fast, paperless account opening and e-Signature on plan agreements Digital funding for both employer and employee contributions (ACH or bank deposit) Spouse participation at no additional cost Roth and traditional tax strategies Record-keeping services provided by Betterment. –See the new solo 401(k)– Easy fee billing from Cash Reserve We’ve expanded our billing options. Now, you can assess fees directly from clients’ Cash Reserve accounts, increasing flexibility and efficiency in fee management. This can help: Improve cash flow management: You can help clients avoid liquidating investments to cover advisory fees, reducing potential tax implications. Create a seamless client experience: Ensure fee payments are handled smoothly from available Cash Reserve balances, which lets clients maintain their investment strategy without interruption. Customize billing plans: Tailor the fee structures to client preferences, and provide a more personalized approach to portfolio management. Cash Reserve offered by Betterment LLC and requires a Betterment Securities brokerage account. Betterment is not a bank. FDIC insurance provided by "Program Banks", subject to certain conditions. Learn More. * Get greater visibility into plan-level information We understand that every advisor has a unique approach to plan management. Whether you manage investments yourself or rely on Betterment’s 3(38) services, our 401(k) solution gives you the flexibility you need. With our latest unlock—the “Investment Options” tab—you’ll get access to different investment details depending on who holds the 3(38) role. 3(38) advisors: View the active fund menu for each plan, select fund details and view more information like expense ratios, fund performance, benchmark performance and prospectuses. You can download your active fund menu and aforementioned details to a .CSV file as well. Betterment 3(38) / sub-advisory role: See all available model portfolio strategies (with Core as the default QDIA investment), and select a portfolio to view its performance history, projections and holdings based on an example allocation or risk. This clear, centralized view of fund menus and portfolio options helps improve decision-making and streamline plan management. Unlock faster, actionable data with 20 new reports We know you often need to access plan data quickly ahead of client meetings. That’s why we’ve added 20 new reports—now available directly in the advisor experience on the Betterment platform. These include both participant-level details, like deferral rate history and inactive participants, and plan-level insights, such as unallocated funds and investment activity over time. With time-based metrics and a deeper view into plan performance, these reports equip you to lead more informed, impactful client conversations. –Explore our 401(k) solution– Link external accounts to joint and trust accounts We’re happy to announce this once sought-after feature is now a reality: Clients can now connect external accounts with their joint and trust accounts. Using Betterment’s advanced aggregation features, you can: Get visibility into your clients’ held-away assets so you can craft more informed investment strategies. Move money faster, now that clients have even more ways to fund their investments and manage trust distributions without the hassle of manual transfers. Tune into our brand new video series Hosted by Tom Moore, Head of Betterment Advisor Solutions, Advisor Exchange will feature financial advisors and innovators across the industry, unpacking their success stories: highs, lows, and lessons learned along the way. Because no one understands the unique challenges and opportunities of financial advising as those living it. –Tune in– And, you can always suggest a topic or nominate an advisor who has inspired you. We’ve had a jam-packed quarter, and there are even more upgrades planned for Q2. Stay tuned. If you’d like to learn more about Betterment Advisor Solutions, book a demo.

Going independent: 4 key questions before starting your own RIA

Going independent: 4 key questions before starting your own RIA Jan 30, 2025 12:00:00 AM Thinking of breaking away to become an independent RIA? Ask yourself these four key questions first to help set your new firm up for success. The data looks promising if you’re looking to start an independent RIA… In 2024, PlanAdviser reported that the average Millennial who works with a financial advisor started looking for advice at age 29. That’s nine years younger than Generation X and 20 years younger than Baby Boomers. The great wealth transfer is now projected to be $124 trillion, and the population of Millennials in the U.S. hovers over 72 million people. There may have never been a better time to start an independent RIA looking to serve a growing high-net-worth market with demand for financial advice. But starting your own firm is a big undertaking–and a daunting one. Building your confidence starts with thinking through important facets of your plan. First, consider what success would look like for you. Many advisors who go off on their own, do so to gain more freedom and flexibility professionally—and personally. So, it’s important to think about what matters most to you. Below, we’ve laid out four key questions, as well as a business plan, to help you build a solid foundation for your firm. Question 1: Who do you need to support your firm? As you start an independent RIA, establishing strategic professional partnerships can help ensure you have the necessary resources and expertise to navigate the transition smoothly. These partnerships provide critical support in areas like compliance, technology, and operations, enabling you to set up a strong foundation for your practice from day one. You’ll likely need support from some, if not all, of the following professionals: Attorney: Throughout the transition, your legal counsel can offer valuable guidance, like reviewing your existing non-compete agreements with your current employer, helping you establish a business entity, and providing overall protection for your interests. Attorneys are a key resource, who can offer expertise on how to register a new business, for example. Online legal solutions can also be a solution if costs are a concern early on. Tax advisor: Having a tax advisor from the outset of going independent can be beneficial in addressing any tax-related questions or concerns that may arise. Thorough tax planning can help your firm remain in compliance and reduce your tax liability as you start a business. For example, your firm may qualify for tax credits available to new businesses. A tax advisor can help you claim all credits and deductions that you may not have known to be available to you. Compliance consultant: As an independent RIA, you will be required to have a Chief Compliance Officer (CCO) to oversee and ensure the firm's adherence to regulatory requirements. You can take on this role yourself, appoint an employee, or outsource the responsibility to a compliance consultant. Outsourcing the CCO function can be particularly beneficial during the registration phase, as it allows you to leverage the expertise of a seasoned professional, saving you valuable time. For example, a CCO can help with filing Form ADV and related documents, navigating SEC or state registration requirements, drafting tailored compliance policies, transition planning, and setting up necessary systems for recordkeeping and reporting. Marketing agency or freelancer: A polished brand is a key ingredient in ensuring prospective clients view you as a trusted, professional firm. A skilled marketing consultant or agency can help you develop a strong brand identity, create effective marketing strategies, and establish a differentiated brand presence. Services they provide can include website design, social media management, content creation, and lead-generation campaigns. Other RIAs: While you may not want to talk with direct competitors, seeking guidance from fellow RIAs who have successfully navigated the transition to independence can be valuable. By consulting with peers who have started their own RIAs, you can gain valuable insights and advice, which can help increase your confidence and better prepare you for potential challenges. If possible, speaking with RIAs who have made the transition from your current firm can provide particularly relevant and nuanced guidance, as they will have firsthand experience with the unique circumstances and obstacles you may face. We’re here to support you, too. At Betterment Advisor Solutions, we take pride in being a trusted guide for advisors looking to make the leap to become an independent RIA. We provide 1:1 support as you start your firm. Have questions? Talk to us today. Question 2: Where is your time best spent running your firm? When you’re first starting your firm, you’ll quickly find yourself wearing many hats. It’s important to understand your bandwidth and the key actions you need to take to build a successful independent RIA. For example, if you have few clients when you start, then business development, client experience, and business processes will likely require more of your time as you focus on growing your book. As more clients come onboard, your priorities will shift. Once you have a healthy book of clients, you’ll need to evaluate which activities are most valuable to your firm. For example, should you spend your time on investment management and portfolio construction? Or would it be better to outsource these tasks, and devote more time to clients and holistic financial planning? Review the following common activities, and prioritize those you feel are most important for your firm’s success: Business development: Attracting and acquiring new clients to grow your business Client transition and onboarding: Establishing a clear process for account setup and communication, including setting up client households and opening as many different accounts as needed Client experience: Delivering exceptional service and building strong relationships with existing clients and identifying opportunities to offer additional services, like tax or estate planning Business processes: Managing the operational aspects of your firm, such as compliance, marketing, and technology Wealth management: Providing holistic financial guidance tailored to clients' goals, such as retirement, education, and charitable giving Portfolio management: Developing and implementing investment strategies tailored to each client's unique needs and goals In our 2024 Advisor Survey, we found most advisors spend the majority of their time on financial planning. You can use the data below as a benchmark to compare how you spend time, but keep in mind the additional needs of your firm as you start the process of going independent. Question 3: What will your RIA tech stack look like? The term “tech stack” simply refers to the collection of software platforms and tools that you use to do business—and deciding what it looks like is one of the most important decisions for your new firm. Your tech stack can make or break your firm’s efficiency and the quality of service you provide to clients. It will include many different and often integrated software, but at the end of the day, it should be driven by this question: “How do I need to spend my time?” For example, you’ll likely want CRM (customer relationship management) software to track and manage all of your client data and interactions in one place. Without CRM, you’ll spend time manually tracking client engagements in spreadsheets, taking away time from serving clients. The four essential components of an RIA tech stack A comprehensive tech stack for independent RIAs should include the following four essential pieces of software. Custodial solution: Selecting a custodian is one of the most significant decisions for your firm. Your custodian is responsible for the safekeeping of the assets, processing transactions, and providing administrative support. Look for a custodian with strong tech capabilities for you and your clients—and the ability to integrate with your broader tech stack. Portfolio management: These technologies enable you to efficiently and effectively manage your clients' investments. The right portfolio management platform can range from providing simple model marketplaces to full-end-to-end tooling, including tax-optimization technologies, portfolio customization options, and more. Some custodians offer built-in portfolio management software, which can help your firm cut costs and streamline your operations. Financial planning: Financial planning technologies allow you to create comprehensive, customized financial plans to help clients budget, set goals, and plan for taxes. Many financial planning platforms integrate with custody software and customer relationship management (CRM) software, enabling a seamless and holistic approach to client service. CRM: CRM software is essential for managing client communications, collaborating with your team, and building long-term relationships with clients. A good CRM should be able to integrate client data from multiple systems and integrate with marketing automation technologies to track your client information and potentially send, or at least enable, personalized communications. Additional tools to support your firm's operations To run an efficient and effective firm, you may also require other tools, which can range from free platforms to robust solutions. Some of these tools you may wish to consider include: Compliance software: Compliance software covers a range of solutions, from simple archiving of firm communications to advanced cybersecurity strategies. In addition to software, your firm may require compliance consulting services, which can be provided by the software vendor or a separate third party. Accounting software: Manages your firm's finances, tracks expenses, and generates invoices. Billing software: As you sign clients, you’ll want to make sure you have billing software that integrates with your tech stack. Betterment’s fully integrated billing solution lets you set a fee schedule for each household during onboarding and automate collection and reporting. Marketing software: Automates marketing campaigns, manages social media, and tracks lead generation. Scheduling software: Streamlines client meetings, appointments, and communications. Video conferencing software: Facilitates remote meetings and collaborations with clients and team members. File management software: Securely stores and manages client documents, contracts, and other sensitive information. AI notetaking software: Automates note-taking, transcription, and data entry, freeing up more time for high-value tasks. As you review different software solutions, we can’t stress enough the need to look for platforms that integrate with each other. By carefully selecting and integrating these tools, you can build a robust tech stack that supports your firm's growth, efficiency, and ability to deliver exceptional services to clients. With Betterment Advisor Solutions, you’ll get a vertically-integrated product that combines custody with your most critical practice software, including onboarding, trading (or portfolio management), reporting, and billing. We recommend reviewing your tech stack on an annual basis to ensure it remains aligned with your firm's evolving needs and goals. Question 4: How will I transition my current clients to my new firm? Your current clients will be your most valuable ones as you start your independent firm. Client onboarding is a crucial phase of going independent. Although you may not be able to discuss your plans to start your own firm just yet, you can begin laying the groundwork for a successful transition. Talk to an attorney: Consulting with your attorney can be a smart move to ensure you're not violating any existing company policies or agreements. If permissible, start compiling a list of clients you'd like to invite to join your new firm. This may include gathering their contact information, such as names, addresses, phone numbers, email addresses, and account titles. Select your clients strategically: As you consider which clients to bring on board, take a strategic approach. Starting your own firm presents an opportunity to specialize in a specific niche or target market. Think carefully about the types of clients you'd like to serve and the services you want to offer. By defining your ideal client profile and target market ahead of time, you'll be better equipped to develop effective marketing and business development strategies when you launch your firm. This clarity will help you hit the ground running, allowing you to focus on building strong relationships with your new clients and growing your business from day one. Bonus: Building your business plan A business plan is not only helpful for you, as you start and manage your own firm, but it’s helpful for any key employees and partners of your firm. For example, a marketing agency or outsourced Chief Compliance Officer can use the information in your business plan to better serve your needs as they provide tailored advice and strategies to help grow your firm. Below is an outline to follow along with some tips for completing each section. Independent RIA business plan outline Executive summary: A brief overview of your RIA firm, its mission, goals, and objectives. Try to clearly explain why your firm exists in two to three sentences. The information in your executive summary can serve as a guiding light for many important stakeholders. For example, for you and your employees, it explains clearly why your firm exists. And for clients and potential clients, the language in this section can be used on your website and in other client communications focused on highlighting your firm’s mission. Company description: A detailed description of your RIA firm, including your history and details on any key employees, the business entity structure, and ownership structure. Writing this section ahead of starting your firm can help you have a clear understanding of steps you may need to take, such as creating an LLC and planning who will serve in key roles at your firm. For example, this section should detail who (internal employees or outsourced consultants) will oversee investment management, technology operations, compliance, and day-to-day operations. Market analysis: An analysis of your firm’s target market, including demographics, financial needs, and trends, as well as a competitive analysis of other RIAs in your market. You can conduct a market analysis yourself or work with a market research agency to assist with more in-depth analysis. If conducting market research yourself, you can leverage free data from the United States Census Bureau or Data Commons and then add paid data sources as needed. Services and products: A description of the investment services and products offered by your firm, including but not limited to portfolio management, financial planning, and other advisory services. Your services and how you price them should align with the needs of your target market defined in your market analysis. For services like financial planning, list out exactly what that will entail for your clients, including services like cash flow management, tax planning, retirement planning, estate planning, and risk management. Being very detailed in this section will allow you and your clients to understand what they are getting from your services. Marketing and sales strategy: A description of your firm’s marketing and sales strategy, including how it will attract and retain clients. One common approach to outlining a marketing strategy is using the “4 Ps” for your firm. The 4Ps help you document Product, Price, Place, and Promotion to help you build a strategy for promoting and distributing your services to the right audience. See our guide for creating a marketing plan using the 4Ps. If you have larger growth plans, this section can also describe your firm’s growth and expansion plans, including its strategies for increasing revenue, expanding its client base, and entering new markets. Operations and management: A description of your firm’s operational structure, including its management team, staff, and technology infrastructure. This section should cover the hardware, software, and network systems needed to run your firm and clearly explain how you plan to integrate your tech stack to run your firm efficiently. Financial projections: Financial projections, including revenue, expenses, and profit projections, as well as a breakdown of your pricing and fee structure. More formally, these projections should be used to create a three-year income, balance, and cash flow statement forecast to help with planning and goal setting. Also, as you transition from your current job to your independent firm, consider the funds you may need to set aside for personal expenses as you start your firm without much or any income. Compliance and risk management: A description of your firm’s compliance and risk management procedures, including its regulatory requirements and internal controls. Risk assessments should be conducted for regulatory compliance, market volatility risk, cybersecurity risk, and other practice areas such as marketing, advisor compensation, and trade execution. Human resources and staffing: A description of your firm’s human resources and staffing plan, including its staffing needs, training programs, and employee benefits. This section will be more straightforward if you’re a solo advisor, but it's important to clearly define staffing needs and roles if you have additional team members. Betterment Advisor Solutions is your partner for going independent Going independent means wearing a lot of hats as you grow your own firm. With Betterment Advisor Solutions, you get an all-in-one custodial platform that integrates and automates your most essential practice management and portfolio management tasks. From onboarding new clients to performing operational tasks and ongoing portfolio management, our team and technology will help advisors like you get set up with tooling to ensure you can cover many of your bases early on. We support hundreds of RIAs, helping them streamline their practices’ operations and technology. Take Eric, for example… “I run a solo practice — having a solid tech stack is essential to running my business successfully, especially with back office responsibilities. Having a partner like Betterment helps me streamline client onboarding and ongoing investment support so I can focus on other aspects of my business.” —Eric Rodriguez, WealthBuilders We’re here to answer your questions and be your guide as you set out on your independent RIA journey. Ready to talk?

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RIA software: How to select custodians and tech providers

RIA software: How to select custodians and tech providers Jan 17, 2025 1:30:39 PM See what software is most important to other financial advisors and get tips (and a free tool) to help your RIA firm navigate tech decisions. In 2024, Betterment Advisor Solutions wanted to explore trends we saw emerging in the RIA space from the next generation of advisors. We surveyed 500 independent RIAs, of which 72% were Millennials (Download the survey). Below are our key takeaways on RIA software, along with tips and tools to help your firm implement new tech strategies. Table of contents: The top-ranked RIA software features Common challenges RIAs face when buying software Three tips for minimizing RIA software buying challenges RIA software ranking tool The top-ranked RIA software features We found that advisors generally find all features at least somewhat important to their daily operations. This stresses the important role that technology plays in the success of independent RIAs. The Top 3 most important features that an RIA software provider could offer for advisors were billing (52%), financial planning software (51%), and performance reporting software (51%) In our RIA survey, we asked the question, “How important are each of the following types of technology/software to your daily operations?” Respondents ranked their selections on a five-point scale, from “Not important at all” to “Very important.” Billing Financial planning software RIA Performance reporting software Tax management tools Cash management solution CRM Model marketplace Risk analytics Digital account opening software Portfolio management software Common challenges RIAs face when buying software Many advisors know the value of technology but are unable to implement new tools effectively for various reasons. When asked about their biggest challenges in implementing technology at their firms, advisors highlighted poor customer service and time spent training their team on new tools. Three tips for minimizing RIA software buying challenges If your firm is in the market for new technology, keep the following tips in mind during your buying process. 1. Assess the strengths and weaknesses of your current tech stack Before you start implementing any new technology, it’s important to first make sure that you understand the ins and outs of your current system so that you know what to look for in the future. There are two important reasons for this: Setting expectations: Knowing details about your current tech stack will help you understand how easy (or difficult) system migrations could be. Depending on your current tech stack, certain tech vendors may be more challenging to migrate to or integrate with. Knowing this will help you map out realistic timelines and costs for your project. Finding unused features: A firm may think they need to migrate off of a certain piece of technology, but in reality, they simply are not aware of all the features that a tech platform offers. This could be the case if you have been using a tech vendor for years and have not explored their updated features. If you are considering changing tech providers because of feature limitations or issues, contact your current vendor and see if they have a solution. Once you have a solid understanding of your tech stack, you can map out a forward-looking strategy involving migrating to new vendors where needed. 2. Map out your firm’s tech strategy Before you start browsing new tech providers, you’ll want to document the strategy and goals you expect to achieve. Ask yourself questions like: Is a simple, easy-to-use interface most important to you? Or maybe, it’s having customizable features? Are you looking to consolidate vendors for ease of management or leverage multiple vendors for best-of-breed tech? Work backward from your strategy and goals to help understand what needs to be done and what type of tech provider you should partner with. There are usually tradeoffs with technology. For example, the easiest tech to implement and provide training on may not offer the most customizable solution. On the other hand, highly customizable tech may be more complex to manage and take longer to get up and running. 3. Create a change management plan Regardless of your tech strategy, having a change management plan will help your team transition to new technology. A strong change management plan will incorporate the following areas: Change management team: Establish a dedicated change management team, or at the very least one leader, who will oversee the implementation process and manage stakeholder engagement, communication, and training. Project plan: Develop a detailed project plan outlining key milestones, timelines, and resource allocations. This should include both technical and non-technical tasks, such as software installation, user testing, and change management activities. Risk assessment: Conduct a risk assessment to identify potential issues that may arise during the implementation process. Develop mitigation strategies to address these risks and ensure the successful adoption of the new technology. Stakeholder analysis: Identify key stakeholders who will be impacted by the new technology, such as employees, clients, and partners. Assess their interests, concerns, and potential resistance to the change. Communication plan: Develop a comprehensive communication strategy to inform and engage stakeholders throughout the implementation process. This may include emails, regular meetings, training sessions, and one-on-one discussions. Training and support: Provide training and support to employees (and clients if impacted) to ensure they understand the new technology and how touse it. This may include online tutorials, in-person training sessions, and ongoing support from technical experts. Monitoring and evaluation: Establish a system to monitor and evaluate the implementation process, including progress against milestones, stakeholder feedback, and performance metrics. Use this information to make adjustments and improvements as needed. RIA software ranking tool Creating a strategic plan of action for your tech stack doesn’t have to be complex. Using the ranking tool below, you can help guide your firm’s strategy in as little as 30 minutes. How to use the tool? As you think through your tech strategy, use the table below to rank each type of RIA software based on its importance to your firm’s goals and level of satisfaction with your current software. You can compare the level of importance to the level of satisfaction to help identify software that you may need to replace with an improved solution, or software that your firm wants to keep and invest in continuous improvements. Complete this ranking tool once or twice a year to help monitor your tech stack’s performance. Pro tip: Print out this chart to manually fill it out.

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