The RIA business has many tech vendors working hard to serve its diverse needs, and we're seeing technology become a more crucial part of setting up and running an RIA than ever before.

The Technology section includes unbiased tech reviews, tech-related news, and coverage of tech-related conferences.

Drew Sievers: [FIS support] is not just a huge moat in the banking business, it's a veritable ocean.

Trizic CEO raises $10M, poaches ex-FolioDynamix COO and luxuriates in 'ocean' of FIS 14,000-bank insider advantage

Drew Sievers vows that firm's five-year plan will make his bank clients massive competitors to Wealthfront and Betterment

20 hours ago by Oisin Breen

Brooke's Note: The robos-to-bank sweepstakes just keeps heating up -- each with its own giant advantages. SigFig has Randy Bullard. See: Randy Bullard pitches himself into major role at SigFig to add his Placemark knowledge to a robo hothouse. Fidelity has eMoney and its banking relationships ...

Bob Miller's firm seeks a 'recapitalization, refinancing, sale, merger or other capital transaction.'

Seeking loan of $2 million, PCR discloses $12-million payment due in 2020 -- putting 'sale' on the table, offering memorandum shows

Private Client Resources, founded in 2000 projects it will break even next year but declines to say how it'll pay back mounting pile of loans

March 19, 2018 — 7:03 PM UTC by Oisin Breen

Brooke's Note: Here's what's clear to us: PCR is a well-funded operation shooting for the rim of a vast and underserved market and led, since 2016, by CEO Bob Miller, with a mandate to shake things up. See: With Addepar muscling in, original UHNW ...

Lori Hardwick: We get three to four calls a week of people wanting to invest.

How Lori Hardwick's startup -- funded to the gills -- may co-opt the advisor desktop by creating an overarching open architecture

The co-founder's AI Labs is a portal-of-portals software that means to create -- and just may -- a virtual mono-custodian, mono-software platform

March 15, 2018 — 1:53 AM UTC by Brooke Southall

Brooke's Note: RIAs have always wondered why the oligopoly of RIA custodians couldn't join forces to enable a multi-custody platform that worked like a single custodian. It's a fair question. RIAs are selling themselves to investors as independent arbiters of a universe ...

Bob Miller: In 2015 90% of our revenue came from reporting ... In 2018 that will be less than 50 % so it's a major shift.

What exactly to make of PCR 'doubling' assets to $250B in an eye-blink amid Addepar's inescapable presence

CEO Bob Miller pivoted to safer 'aggregation' ground where margins are slimmer but competition may be lighter

March 13, 2018 — 9:12 PM UTC by Oisin Breen

Brooke's Note: The good news about stocks and bonds traded over the Nasdaq and the NYSE is that they are liquid, visible, trackable and watched like hawks by regulators. These public exchanges are like convenience stores. You get in and out of 711 easily ...

Lori Hardwick: Can Riskalyze play well with the home office? Not just allowing them to be on the shelf but really getting that home office to work with them.

What Aaron Klein's board pick of Lori Hardwick tells about Riskalyze's next big hurdle

The Envestnet fourth partner and ex-COO at Pershing plans to make sure the fast-rising Sacremento-area robo-plus finds and makes the right enterprise deals with broker-dealers

March 6, 2018 — 10:51 PM UTC by Brooke Southall and Oisin Breen

Brooke's Note: When high tensile entrepreneurs with no extra time on their hands forge pacts under any guise, have a look at what is under the hood of the arrangement. The directorship pact between Lori Hardwick and Aaron Klein fits that category. More on Lori ...

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Eric Clarke: If we didn't do anything, our RIAs would have gone to Addepar or PCR and it would have given them a chance to cross-sell.

Orion gets serious about Addepar's threat to its biggest clients

CEO Eric Clarke cobbles together a dozen providers, plus DTCC, into a workable reporting system for alternative investments that cuts labor, improves appearance

March 5, 2018 — 5:44 PM UTC by Brooke Southall

Brooke's Note: Eventually, it had to come down to this -- the battle of the Erics: Clarke and Poirier. But what's interesting here is not that the CEOs of Orion and Addepar are becoming fierce competitors -- they're not -- but that they are on each other ...

Joel Bruckenstein: MoneyGuidePro is looking to grow into the more complicated planning space with larger RIAs and family offices, where eMoney has been the tool of choice.

At T3 eMoney and MoneyGuidePro redraw the lines of battle and post-API-era blockchain discussion begins

Financial planning software giants zig to each other's zags, Ric Edelman rips the robos and Joel Bruckenstein bobbles

February 12, 2018 — 10:29 PM UTC by Graham Thomas

Brooke's Note: The buzz surrounding technology rises and falls like the recent stock market. Right now it seems muted -- but for RIA software vendors it's always on full blast. See: How tech vendors pierced the glare generated by Fidelity's uni-bundle to get their message ...

MIchael Kitces: Do the math.

After PayPal demurs, Michael Kitces and Alan Moore launch online payments firm for RIAs

Advisors and two Missoula, Mont. angels will fund AdvicePay for increased staffing to sell and service software so that advisors can do billable hours without triggering a custody audit

January 25, 2018 — 7:41 PM UTC by Brooke Southall

Brooke's Note: The best business models arise from chronic pain without immediate access to morphine. Though much focus remains on what automation can add to investment advice, there is a counter-trend -- the reinvention of mass market, human-based financial advice. But that revival won't get ...

Robert Roley: If we can make that pain go away, it's a huge value add for them.

How much of SS&C's $5.4-billion buy of DST Systems trickles down to Black Diamond RIAs? Maybe a good bit

The mother lode of DST data is expected to salve RIA data aggregation distress as the mega-vendor of data to Advent Custodial Data comes in-house

January 17, 2018 — 6:54 PM UTC by Brooke Southall

.Brooke's Note: Six years ago, I recall the excitement of Advent buying Black Diamond. All that scale brought to modern portfolio accounting! Just a few years later, SS&C swallowed Advent without a glass of water. Now this. The technology is fast advancing but the ...

Rob Foregger: John Hancock is the first to do it.

NextCapital does $30-million VC round with a staggering objective that's taking shape first with John Hancock

Nearing 100 employees, the Chicago-based robo-advisor blurs 401(k) and retail asset distinctions by making advice factories out of investment product manufacturers

January 16, 2018 — 8:06 PM UTC by Lisa Shidler

Brooke's Note: When I caught up with Rob Foregger during the editing stage of Lisa's article he exuded an unhurried urgency when talking about cofounding his second robo-advisor from his Vermont home. See: Personal Capital gets $75 million investment and an ex-Schwab retail chief in ...

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Eric Clarke: Sometimes hiring an outside firm solidifies something we already know. It gave us some good courage.

Eric Clarke makes seven big Orion hires that reflect the big check it wrote to Bain & Co. -- including a 'poach' from his brother, Todd

The word-of-God consultant told the Omaha, Neb. software maker to build Eclipse, which worked well, and sparked demand for asset management and marketing experts

January 12, 2018 — 7:28 PM UTC by Brooke Southall

Brooke's Note: McKinsey-type consultants -- what are they good for? No sooner was Orion purchased by TA Associates three years ago than those fancy-pants private equity guys helped commission Bain & Co. consultants. See: Boston firm buys Orion Advisor Services as part of NorthStar ...

Fielding Miller: We had it narrowed it down to Tamarac and Black Diamond.

CAPTRUST dumps Advent and Microsoft, flirts with Tamarac and Salesforce, then hires Black Diamond and Microsoft

As CAPTRUST switches gears from its $240-billion 401(k) business to its $6-billion wealth manager, it is forced to make mammoth and wrenching software moves

January 4, 2018 — 10:56 PM UTC by Lisa Shidler

Brooke's Note: J. Fielding Miller is one of the top CEOs in the RIA business, by assets, growth and organization. So when we found out he had to strip out his software last year from his $250 billion RIA and replace it, we wanted to ...

Greg Friedman: Either one is more than a full-time job.

Greg Friedman pockets maybe $20 million, subtracts one full-time CEO job and goes all in on Private Ocean

WisdomTree pledges $30 million of cash and 56 year-old seller will pour his energies into building $1.2-billion RIA with new roll-up strategy

January 2, 2018 — 10:28 PM UTC by Brooke Southall

Brooke's Note: Greg Friedman built an industry-leading RIA software company without ever having to take a giant risk. It was more of an insider trade. He simply built CRM software for his own RIA firm because nothing existed in the marketplace. It worked and other ...

Warren Pennington: Investment managers will be able to instantly distribute, receive and process index data, resulting in better benchmark tracking and significant cost savings.

Vanguard Group makes $1.15-trillion AUM bet on blockchain technology that eliminates giant daily manual process

The $4.8-trillion giant applies the 'bitcoin' decentralized ledger to CRSP-tracked AUM to match indexes and index funds in real time

December 13, 2017 — 1:09 AM UTC by Brooke Southall

Brooke's Note: The number one thing most people know about bitcoin: It trades at $17,600 per crypto-coin. The number two known truth is that they wish they had listened to their geek friend when he advised them to buy it at 8 cents a ...

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Lowell Putnam: It ensures everything on both sides of the transaction is 'fit for purpose,' meaning it's just down to the National Securities Clearing Corp.-DTCC to do the necessary work..

Quovo is developing an ACATS rooter process with Apex Clearing as first to sign on

The Silicon Alley startup is using its data science as a way of attacking a clog considered not susceptible to intervention

November 14, 2017 — 11:09 PM UTC by Oisin Breen

Brooke's Note: When you are a tiny startup competing in a field of giants, you have two choices. You can go low with a microniche or go high and provide a product above and beyond what the giants do because they are stymied by innovator's ...

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