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2019 Software Survey Report

2019 Software Survey Report

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SUMMARY

This report on software in the financial services sector notes that planning firms that are exploring their technology options usually rate higher less well-known software solutions than the software market leaders.

This in-depth research gives, in fact, an overview of the professional tech and software landscape in the financial services sector.

According to the paper, CRM software could be an ideal “hub” for the complete software suite - which is with no doubt an interesting value for experienced advisors and advisors at larger financial services firms. However, the increasing numbers of less experienced advisors that think that financial planning software is their most valuable software goes to show that their value proposition differs from the one of more experienced advisors. 

Regarding cybersecurity, the figures show that financial services firms are wrongly expecting not to be targets of cyberattacks, or perhaps they are not taking their data security duties as seriously as needed. The paper explains that this is a very concerning conclusion considering the growing risks for the business community.

Besides, the new software categories mentioned in this document - such as economic analysis and portfolio modeling, Social Security and College Planning tools - entail potential new ways for professionals in the financial services sector to increase value beyond managing portfolios, offering financial plans and monitoring client preferences. 

Report download requires free registration on the publisher’s website.

OUTLINE

Methodology and Disclaimer 

Demography of the Survey Participants

All-In-One Software Programs

CRM Tools 

Risk Tolerance Instruments 

Portfolio Management Tools 

Investment Data/Analytics Tools 

Economic Analysis and Stress Testing Tools 

Trading/Rebalancing Tools 

TAMP Service Providers 

Online/Automated Portfolio Management Tools 

Financial Planning Software

Tax Planning Software 

Social Security Analysis Tools 

College Planning Tools 

Document Management Resources 

Document Processing Tools 

Cloud Hosting and Cybersecurity Resources 

Digital Marketing Tools/Resources 

Miscellaneous Tools  

Custody Platforms 

Broker-Dealer Platforms 

Bonus: What is Your Most Valuable Software?

Bonus: Tech Spending Trends 

Bonus: Should the CFP Board Grant CE Credits? 

Final Thoughts 

DETAILS

Overview

Researchfinder Rating
4 out of 5 stars
Title
2019 Software Survey Report
Region
Global
Published
Jan. 31, 2019
Publisher
T3
Author(s)
Joel Bruckenstein, Bob Veres
Price
FREE
Language
ENGLISH

Content

Number of Pages
44
Number of Tables
40
Number of Exhibits
0
Topics
software
Tags
application software, cloud computing, CRM software, cyber security, financial planning software, financial services, global, management software, software, software budgets, T3, tax software, trading software
Companies mentioned
Salesforce, Microsoft, DocuSign, Dropbox, Wells Fargo, AXA
Author(s)
Joel Bruckenstein, Bob Veres
Methodology
This report is based on a survey with over 5,500 members of the financial planning and investment advisory industry.
EVALUATION

A very in-depth survey which aims at providing a snapshot of the professional tech and software landscape in the financial services industry.

Positives:

  • In-depth software information tailored to the financial services sector
  • Good software classification
  • Tables of the main tools used in each of the software categories
  • Great conclusions

 

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