The pace of mergers and acquisitions proves that many of today’s RIAs believe there are competitive advantages to growth. For instance, working as a larger, single entity affords firms the opportunity to realize economies of scale in many areas, including technology. Technology-related expenses are one of the largest controllable operational expenses for every RIA, second only to staffing, so there are bottom line benefits to consolidating and getting the integration right.
Before tying the knot, merger-minded advisors would be wise to understand how to commingle disparate technologies without putting the client experience or firm data at risk. By focusing on and planning for the following consolidation issues early on, RIAs will mitigate disruption, address security and compliance issues and reduce expenses with fewer headaches sooner rather than later.
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