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Cloud Technology Blog for RIAs and Broker-Dealers

External IT News Round-Up 4/10-4/16

A weekly round-up of everything you need to know.

As an added service for our blog readers, External IT provides a weekly round-up of the stories you need to know in the financial industry.

The SEC wants to use a potential boost in its budget to ramp up cybersecurity and advisor exams. LPL has announced a deal with BlackRock’s FutureAdvisor to pilot the broker-dealer’s robo platform. JPMorgan is considering plans to cease using phone lines for trade orders and start migrating its platform to the cloud. Wirehouse owners Bank of America and Wells Fargo have announced declining profits this earnings season. And software vendors are expanding the business of catching tax-related identity fraud.

4/15/16 11:48 AM / by Alexander Lapa posted in News, Technology, Robo Advisors, Trends

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External IT News Round-Up 4/3-4/9

A weekly round-up of everything you need to know.

As an added service for our blog readers, External IT provides a weekly round-up of the stories you need to know in the financial industry.

Technology vendors may be poised to benefit from the Department of Labor’s recently released fiduciary rule. But the Massachusetts securities regulator warns that robo advisors might not qualify as fiduciaries. The ongoing scandal of the Panama Papers is giving renewed attention to arguments that financial advisors should be subject to the Treasury Department’s anti-money laundering rules. The boss of the biggest bank in the country is urging the public to keep America’s financial system intact despite calls by presidential candidates to break up the biggest companies in the industry. And the boss of a major RIA aggregator says that where advisors stand in the “wealth management pyramid” influences their pricing ability.

4/8/16 11:40 AM / by Alexander Lapa posted in Financial Services, News, Technology, Robo Advisors, Trends

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External IT News Round-Up 3/20 to 3/26

A weekly round-up of everything you need to know.

As an added service for our blog readers, External IT provides a weekly round-up of the stories you need to know in the financial industry.

RIA mergers and acquisitions reached a 10-year high in 2015. Mega banks are catering to mega hedge funds in a bid to maximize profits. Advisors have a new business development tool, in the form of Facebook’s search engine. An advisor-facing robo platform is partnering with a global technology company to provide cognitive computing. And the Department of Labor’s fiduciary rule could be completed in early April.

3/25/16 10:39 AM / by Alexander Lapa posted in News, Technology, Robo Advisors, Trends

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External IT News Round-Up 2/14 - 2/20

A weekly round-up of everything you need to know.

2/19/16 2:40 PM / by Alexander Lapa posted in SEC, News, Robo Advisors

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External IT News Round-Up 2/7 - 2/13

A weekly round-up of everything you need to know.

As an added service for our blog readers, External IT provides a weekly round-up of the stories you need to know in the financial industry.

President Obama’s final annual budget proposal includes higher taxes and stronger cybersecurity guidelines. The ongoing stock market rout could be a good thing for advisors if it pushes more prospects to seek out financial help. With small firms and major brokerages all launching several new robo advisor competitors, analysts wonder if the market is overcrowded. Too many advisors may be fooling themselves into believing that their partner is their succession plan. And a consultant exposes some myths about compensation structure.

2/12/16 2:03 PM / by Alexander Lapa posted in SEC, News, Robo Advisors

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The Top Five Wealth Management Trends of 2016

Compliance. RIAs. Tech. Millennials. Personalization. And that’s just the beginning.

If there is one overarching theme the wealth management industry must embrace in 2016, it is better client service.

Financial advisors need to listen to what retail investors are asking for, watch what those investors are doing and give them what they want. Otherwise, now more than ever, those clients are inclined to go elsewhere. Asset managers serving financial advisors are in a similar position. Broker dealers should take this approach toward retail investors and advisors alike.

2/2/16 11:59 AM / by Sam Attias posted in Cybersecurity, News, Robo Advisors, Trends

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External IT News Round-Up 1/24 to 1/30

As an added service for our blog readers, External IT provides a weekly round-up of the stories you need to know in the financial industry.

1/29/16 1:05 PM / by Alexander Lapa posted in Financial Services, Practice Management, News, Robo Advisors

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External IT News Round-up 1/10-1/16

A weekly round-up of everything you need to know.

1/15/16 11:30 AM / by Alexander Lapa posted in SEC, News, Robo Advisors

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External IT News Round-Up 12/13 to 12/19

A weekly round-up of everything you need to know.

As an added service for our blog readers, External IT provides a weekly round-up of the stories you need to know in the financial industry. 

12/18/15 12:02 PM / by Robin Brown posted in Financial Services, Technology, Robo Advisors

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