Centennial, CO (February 3, 2011): Trust Company of America today announced its sponsorship of the Moss Adams/InvestmentNews 2011 RIA Technology Study with the intent to bring to market new findings emphasizing the correlation of technology and profitability.
The innovative study will encompass information never directly researched, demonstrating how firms of all sizes and demographics use technology and comparing that to financial results. “We’re stepping up to help our industry realize the value of technology. It’s essential for RIAs to have this roadmap to navigate today’s challenging marketplace and to understand how a custodial relationship is in fact a bottom line lever,” stated Frank Maiorano, CEO & President of Trust Company of America. “Equally important, it will give RIAs the ability to compare their firms’ current technology infrastruture to similar-sized RIAs, as well as top-performing firms, enabling them to identify what technology is being used and how.”
The study examines how the top quartile firms use technology, and shows the often-neglected correlation between the use of technology and its impact on profit & loss. Accordingly, the survey’s findings will also tie financial performance to technology spend and usage, and provide analysis and insight comparing RIAs by size, type of advisers, and service models. In addition, it will identify where and how much time is being spent across 16 core back-office functions, and will further guide and assist RIAs with technology-based decisions around spending, vendor usage and satisfaction, as well as system and tool integration.
“We are pleased to join other top tier technology companies as sponsors in this research, Laserfiche and Black Diamond, as we share a common commitment to learning how technology can impact RIAs. The needs of the industry are changing and technological advancements are key to efficiency and vital to the bottom line of any RIA,” concluded Maiorano.