Real tech stacks - 3/26/24
Just because a category exists doesn't mean you need a tool in it. :) Here's an example of a smaller tech stack: Staff: 3 AUM: $13mil (majority of revenue comes from planning fees) Custodians: Schwab CRM: Redtail Financial Planning: RightCapital Portfolio Management/Reporting: TAMP uses Envestnet Tamarac, adding Orion Document Management: Citrix ShareFile Website: Wix Investment Data/Analytics: RightCapital, TAMP Scheduling: Calendly Tax Planning: CFS TaxTools Fee Billing: AdvicePay Phone System: Google Voice Password Management: LastPass Archiving: XY Archive Compliance/Cybersecurity: SmartRIA Retirement Planning: Savvy Social Security Risk Tolerance: PreciseFP Data Gathering / Forms: PreciseFP eSignature: Docusign Advice Engagement: N/A (Don't use one) Client Meeting Support: N/A (Don't use one) SMS Texting: N/A (Don't use one) Workflow Support: N/A (Don't use one) Estate Planning: N/A (Don't use one) Email Newsletter: N/A (Don't use one) Digital Marketing: N/A (Don't use one) Advisor Lead Gen: N/A (Don't use one) Advisor Reviews: N/A (Don't use one) Education Planning: N/A (Don't use one) Liability Planning: N/A (Don't use one) Healthcare/Medicare Planning: Other (Not Listed) Behavioral Finance Assessment: N/A (Don't use one) Prospecting: N/A (Don't use one) Held-Away Assets: N/A (Don't use one) Community: N/A (Don't use one) Also, firm doesn't do marketing, new business comes from referrals...