OAKS, PA--(Marketwire - Nov 5, 2012) - Despite the increasing pressures on advisors to meet clients' evolving demands, and an understanding that these pressures could be alleviated by leveraging integrated technologies, many advisors struggle to identify a fully integrated solution, according to a white paper released today by SEI (
"Advisors often confuse compatibility with integration, largely because of how the technologies are marketed," said Kevin Crowe, Solutions Unit Leader for the SEI Advisor Network. "Just because the CRM software and the portfolio management tool are compatible with one another does not mean they are a single, integrated system. Only when a truly unified system is implemented will an advisor realize the many business benefits that come from the increased efficiency. This paper helps advisors not only understand what integration is, but how to actually achieve it."
The white paper defines true technology integration as a system that allows all of an advisor's technologies to communicate with each other and perform necessary tasks from one application, whether they are related to investments, client service, or administration and operations. The paper includes a step-by-step playbook that outlines a measured and strategic approach to help advisors adopt the right solution to fit their specific business needs.
"When it comes to running a successful business, most advisors understand the importance of technology but it's sometimes difficult to know how to choose it or use it effectively," said Steve Eyer, Vice President of VF Investment Services Corp. in Wayne, PA. "What's become more apparent is that simply buying the 'latest and greatest' technologies isn't a recipe for success. Technology must be looked at in the context of your business, in terms of what best enhances the firm's overall strategy and client experience."
Selecting the best technology solution begins with the advisor evaluating the firm's operational and business processes to ensure they align with the evolving needs of the clients. Advisors must then create a plan to implement a unified system that integrates all of their technology and software tools. A unified system can provide advisors numerous benefits including increased efficiency, revenue growth, and, most importantly, increased face time with clients and prospects.
The white paper also provides additional insights on the implications of technology integration for clients, tips for choosing the right solutions, and details on the resulting business benefits and impacts. The paper is published by the SEI Advisor Network, which provides ongoing practice management solutions to SEI's independent advisors. To request a copy of the 12-page white paper, please visit www.seic.com/integration.
About The SEI Advisor Network
The SEI Advisor Network provides financial advisors with turnkey wealth management services through outsourced investment strategies, administration and technology platforms, and practice management programs. It is through these services that SEI helps advisors save time, grow revenues, and differentiate themselves in the market. With a history of financial strength, stability, and transparency, the SEI Advisor Network has been serving the independent financial advisor market for more than 16 years, has over 4,900 advisors who work with SEI, and $32.5 billion in advisors' assets under management (as of Sept. 30, 2012). The SEI Advisor Network is a strategic business unit of SEI. For more information, visit www.seic.com/advisors.