Artificial intelligence and its impact on financial advisors dominated conversations and keynote presentations at SYNERGY26 in Washington, D.C.
Advisors gained rare access to policymakers helping shape the future of wealth management at this year’s SYNERGY26 conference.
We couldn't think of a better backdrop for SYNERGY26 than our nation's capital.
Held amid celebrations for the United States' 250th anniversary, Washington, D.C., set the stage for three days focused on democratizing finance and the value of independent advice. Advisors, industry leaders, regulators, and innovators gathered to talk about the future of the RIA industry, the Great Wealth Transfer, the rise of AI, and what it means to build a business during such a transformation era of wealth management.
Here's a look at the moments that helped define it.
The energy at SYNERGY26 was palpable from the moment advisors filled the room.
The IPO market is seeing increased activity.
Live from the SYNERGY26 conference in Washington, D.C., Robinhood and TradePMR announced a suite of new products and services that Registered Investment Advisers (RIAs) and their clients can’t get anywhere else. The Robinhood Advisor Network will begin rolling out next week to connect customers with RIAs; we introduced Robinhood Cortex for Advisors; and announced that TradePMR will soon provide RIAs access to IPOs and Robinhood Ventures via the Fusion platform.
TradePMR has announced an expansion of its leadership team as the firm continues to align its organization for long-term strength, advisor growth, and the next evolution of its business following Robinhood’s acquisition of TradePMR.
SYNERGY26 isn’t just another industry event, it’s a chance to get an exclusive look at how TradePMR and Robinhood are working to build our vision for the future of wealth management.
We're thrilled to announce that SYNERGY26 will kick off with All Access, a premier event designed to provide you with an exclusive, hands-on opportunity to connect directly with TradePMR experts.
TradePMR, a leading technology and custodial services provider for independent Registered Investment Advisors (RIAs), has been named to FinTech Global’s 2026 WealthTech100 list, which recognizes the technology providers transforming the global wealth industry.1
The energy for SYNERGY26 is building.
Robinhood and TradePMR announced the pilot of the Robinhood Advisor Network (The Network), a new advisor marketplace designed to connect eligible customers with independent Registered Investment Advisors (RIAs) directly within the Robinhood app. The Network will be exclusively open to financial advisors working with TradePMR.
Every conference has a purpose. Some are about scale. Others are about spectacle.
There’s no better feeling than checking off a New Year’s resolution. That’s why we’ve put together a list of resolutions to help make 2026 the best year yet. No matter what the coming year has in store, we believe that they’ll position you, your clients, and your practice for success.
Registration is officially open for SYNERGY26, TradePMR’s signature event featuring insights, connections, and conversations designed to help RIAs grow their business.
Thursday night in New York City, TradePMR and Robinhood were honored as Industry Disruptor of the Year at the 2025 ThinkAdvisor Luminaries awards.
Whether finalizing the onboarding of a new prospect or consolidating held-away client accounts, RIAs are using the Asset Match program to help their clients receive an unlimited* 50-basis point (0.50%) cash match on eligible deposits made into TradePMR accounts.
The investing landscape is shifting faster than ever — and so are the expectations of investors. At Hood Summit 25, TradePMR got a firsthand look at how Robinhood is building to meet those expectations, and what it could mean for the future of financial advice.
For years, retail investors have enjoyed cash bonuses, account credits, and other perks to get them to switch financial services providers.
The only thing certain in the wealth management industry, it seems, is death, taxes, and changing regulations.
Robinhood’s acquisition of TradePMR is all about delivering value. It’s a combination that we believe can redefine client service and efficiency while offering investors unparalleled access to modern financial advice.
In one of the most anticipated centerstage conversations at SYNERGY25, Robinhood
CEO and co-founder Vlad Tenev and TradePMR CEO and founder Robb Baldwin shared
their vision for the future. It was an opportunity for advisors to see how Robinhood’s
bold, high-growth model could benefit them and their clients as new technology and
demographic changes continue to catalyze industry changes.
At the SYNERGY25 conference, Robinhood revealed an early look at a planned referral program designed to foster relationships between Robinhood’s investors and TradePMR’s advisors.
When conditions are changing, true leadership requires one to take stock of the situation, adapt to what’s new, and make the most of future opportunities. That was the message shared by TradePMR founder and CEO Robb Baldwin when he took the stage at our annual SYNERGY25 conference in Tampa.
One of TradePMR’s goals is to make it as easy and efficient as possible for independent advisors to open new accounts for their clients.
It’s here. We’re in the midst of an expected $124 trillion1 transfer of wealth, with assets passing from Baby Boomers to the next generation of investors. It’s the type of industry sea change that could define a new era in wealth management.
Hundreds of advisors, fintech innovators, forward-thinking professionals, and of-course, the TradePMR team, gathered in Tampa to explore the future of the RIA industry. From power-packed keynotes to waterfront networking and game-changing tech insights, SYNERGY25 delivered an unforgettable week of vision, connection, and momentum.
TradePMR is proud of the technology and service we deliver to independent financial advisors, which have been celebrated by independent industry analysts like T31, Ezra Group2, and The Oasis Group3.
With just a few weeks to go until SYNERGY25, TradePMR’s premier event for RIAs, we’re ready to unlock additional details about the final agenda.
SYNERGY25 is well known for bringing together top advisors, great speakers, an industry-defining technology roadmap, and the chance to interact with leadership.
SYNERGY, TradePMR’s signature conference for registered investment advisors, is just around the corner.
Last year, we were thrilled to announce that Jon Patullo, a distinguished veteran of the RIA technology world, had joined TradePMR as our new Chief Product Officer.
TradePMR listens to the financial advisors who work with us.
Now that the deal with Robinhood has officially closed, the TradePMR team is busy getting ready for the next big thing: our annual Synergy conference!
If you ever feel like there just aren’t enough financial advisors out there to meet the demand of retail investors, just know that it isn’t in your head.
TradePMR’s SYNERGY25 conference is quickly approaching, and I couldn’t be more excited to welcome everyone back to Tampa for several days of learning, collaborating, and sharing best practices.
The agenda for SYNERGY25, TradePMR’s signature conference for registered investment advisors, is now live!
If demographics are any indicator, the market for financial advice is about to be turned on its head.
TradePMR, a technology and custodial services provider for registered investment advisors (RIAs), today announced the launch of “RIA Reflections,” the wealth management industry’s first publication dedicated to personal stories within the RIA community. The new publication is designed to provide a media platform for wealth management professionals to share their personal experiences, background stories and unique insights with the industry. Featuring compelling first-person narratives from financial advisors, executives and thought leaders, “RIA Reflections” offers a unique window into the lives of those in wealth management and financial planning. It aims to foster a deeper connection within the industry by bringing forward the diverse perspectives that shape the RIA landscape.
The world has changed. Many investors are looking for a different experience — and many advisors are, too. That’s why it can be frustrating for financial professionals to navigate the red tape and corporate bloat of massive financial institutions.
Many financial advisors are finding that the growth strategies that served them well in the past are not necessarily going to help them in the future.
Financial advisors care about their clients, and most understand that managing a portfolio is just a fraction of comprehensive services they provide.
Custodial technology can be a vital slice of any advisor’s tech stack. Despite its obvious importance, it often seems like not every custodian gives advisors the solutions they deserve.
A new year is a new opportunity — for updating growth goals, making changes to technology, or just doing some of those workflow adjustments that need to take place periodically. In the spirit of 2025 and the unspoiled energy that accompanies the turning of the calendar, we turned to our leadership team to see what their opinions are of what is to come in the new year.
Robb Baldwin, founder and CEO, TradePMR recently took the stage at MarketCounsel Summit 2024. During the session titled, The Future of RIA Custody: How the Robinhood-TradePMR Acquisition Could Shape the Industry, Robb was joined by Steve Quirk, Chief Brokerage Officer at Robinhood. The session was moderated by Ian Wenik, editor at CityWire RIA. The byline recaps Robb’s comments shared with the audience at the conference.
Are you exploring the addition of new technology? Trying to hire an extra set of hands for planning? Eager to hit new revenue targets?
The right marketing and sales strategy may potentially propel you forward and help you turn your goals into reality, said Kelly Waltrich, Co-founder and CEO of intention.ly, a marketing firm serving the financial services industry. But, in her opinion, it starts with knowing who you are and aligning that with how you present yourself.
How deep do generational divides go? While goals and risk tolerance will impact your clients’ preferences, their generational affinities may have a surprisingly outsized impact.
Sophisticated advisor technology is revolutionizing the way that advisors relate to their clients. If deployed properly, tools like artificial intelligence and back office streamlining hold the potential to return an important dividend on an advisor’s most precious asset: their time.
Prospecting and converting leads into paying clients is one of the most crucial and exciting aspects of building a sustainable business as a financial advisor. But it’s not easy.
We love fall conference season. Whether exploring the latest advances in technology or meeting new advisors at a networking event, it’s exciting to learn more about the trends and dynamics that are affecting our industry.
GAINESVILLE, FL – OCTOBER 7, 2024 – TradePMR, a technology and custodial services provider for registered investment advisors (RIAs), today announced new enhancements to its account-opening capabilities aimed at streamlining the new client onboarding process. The latest enhancements allow advisors to add multiple account applications and advisor documents simultaneously, while seamlessly integrating with existing customer relationship management (CRM) records within the highly rated Fusion platform. The result is a more efficient and less cumbersome account-opening experience for advisors and clients alike.
At TradePMR, we’ve witnessed more industry changes than we can count. Some are well-planned and clearly demarcated, like an advisor going independent, while others can be gradual and iterative, such as the implementation of new technology or the evolution of workflows.
Host by TradePMR Chief Client Growth Officer Bill Coppel, The Synergize podcast explores the evolving role of the financial advisor in an emerging AI-driven world. The inaugural season of Synergize covered important advisor-focused topics, including techniques for supercharging organic growth, how artificial intelligence will change advice, and why building enterprise value is such an urgent matter to address.
Earlier this year, we announced that industry innovator Jon Patullo joined our executive team as Chief Product Officer. Since then, Jon has been busy meeting advisors, fine-tuning TradePMR’s product roadmap and third-party integration plans, and working with our deep bench of dedicated technologists and product specialists.
The Synergize podcast explores the evolving role of the financial advisor in an emerging AI-driven world. Host and TradePMR Chief Client Growth Officer Bill Coppel brings together thought leaders and industry experts across a range of disciplines to share insights designed to help registered investment advisors thrive in the industry of tomorrow. You can listen and subscribe for free on Apple Music, Spotify, and YouTube.
TradePMR continues to receive recognition for the technology and service we offer to RIAs.
TradePMR recently received the highest score among custodial platforms on the Ezra Group’s WealthTech Integration Score1, providing yet another testament to our dedication to provide industry-leading technology to RIAs.
GAINESVILLE and TAMPA, Fla. – August 20, 2024 - TradePMR, a technology and custodial services provider for registered investment advisors (“RIAs”), today announces the additions of four industry veterans to its already robust technology team. The strategic new hires come aboard at a pivotal time to support the ongoing expansion and enhancement of TradePMR’s Fusion technology and Integration platform. Joining the technology team of nearly 100 professionals are:
The Synergize podcast explores the evolving role of the financial advisor in an emerging AI-driven world. Host and TradePMR Chief Client Growth Officer Bill Coppel brings together thought leaders and industry experts across a range of disciplines to share insights designed to help registered investment advisors thrive in the industry of tomorrow. You can listen and subscribe for free on Apple Music, Spotify, and YouTube.
The Synergize podcast explores the evolving role of the financial advisor in an emerging AI-driven world. Host and TradePMR Chief Client Growth Officer Bill Coppel brings together thought leaders and industry experts across a range of disciplines to share insights designed to help registered investment advisors thrive in the industry of tomorrow. You can listen and subscribe for free on Apple Music, Spotify, and YouTube.
The Synergize podcast explores the evolving role of the financial advisor in an emerging AI-driven world. Host and TradePMR Chief Client Growth Officer Bill Coppel brings together thought leaders and industry experts across a range of disciplines to share insights designed to help registered investment advisors thrive in the industry of tomorrow. You can listen and subscribe for free on Apple Music, Spotify, and YouTube.
GAINESVILLE and TAMPA, Fla. – May 16, 2024 - Continuing its ongoing platform innovation in support of independent advisors, TradePMR today announced several enhancements to its integration with Advyzon, the comprehensive wealth management technology and investment management platform for advisors. With a continuous focus on product innovation, Advyzon’s integration with TradePMR provides advisors with increased efficiencies and functions as an integral component designed to help with organic growth.
While researchers and industry observers may disagree on the extent to which artificial intelligence will impact the wealth management industry, there’s little doubt that AI is slated to make waves.1
The Synergize podcast explores the evolving role of the financial advisor in an emerging AI-driven world. Host and TradePMR Chief Client Growth Officer Bill Coppel brings together thought leaders and industry experts across a range of disciplines to share insights designed to help registered investment advisors thrive in the industry of tomorrow. You can listen and subscribe for free on Apple Music, Spotify and YouTube.
When advisors make the leap to independence, they face a world of possibilities and challenges.
Advisors know that their clients’ success includes a purposeful plan and intentional actions. Ironically, it can be a challenge to take those same lessons and apply them within an advisor’s own practice — especially when it comes to marketing.
In conjunction with TradePMR’s Synergy 2024 conference in Las Vegas, Smartria and TradePMR announced that the companies have integrated their platforms and deliver TradePMR custodial data into Smartria’s compliance software.
Registered investment advisors who are treading water may actually be treading on thin ice, according to some of the industry’s most successful entrepreneurs.
Personalization, service excellence, and the client experience are three areas TradePMR is focusing on to help power growth for registered investment advisors.
Editor’s note: This is an edited excerpt of the keynote address TradePMR CEO Robb Baldwin delivered at the SYNERGY24 conference in Las Vegas. This article originally ran in the latest edition of AdvisorEngine’s Action! Magazine.1
Since I first became an independent financial advisor, I’ve believed that it's not just the best business model in wealth management but a movement driven by the entrepreneurial spirit.
GAINESVILLE and TAMPA, Fla. – May 16, 2024 - TradePMR, a technology and custodial services provider for registered investment advisors (RIAs), today released further details of its annual SYNERGY conference, which kicks off next week in Las Vegas from May 21 through May 24. Celebrating its 25th anniversary, TradePMR will bring together growing RIAs from across the nation for three days of learning, collaborating, and sharing best practices for success. With the theme “Limitless,” this year’s SYNERGY conference is designed to help independent RIAs reach new heights in the areas of operations, services, and technology.
GAINESVILLE and TAMPA, Fla. – May 14, 2024 - TradePMR, a technology and custodial services provider for registered investment advisors (“RIAs”), today announces the appointment of Jon Patullo as Chief Product Officer. Patullo brings to the TradePMR team a unique combination of custody platform experience and deep knowledge of technology and integration solutions within the independent advisor ecosystem. His background includes executive and leadership roles at Apex Clearing, Charles Schwab & Co. and TD Ameritrade. Patullo joins the leadership team at TradePMR as the firm celebrates its 25th year as a custody solutions provider dedicated to independent advisors.
TradePMR’s SYNERGY24 is just days away. As we count down the hours to welcome some of the industry’s best to Las Vegas, we caught up with R. Scott Victoria, our Chief Operating Officer and long-time Synergy attendee. He described how TradePMR is working hard to blend product, operations, and client service together, and why SYNERGY24, which will run from May 21 through May 24, we expect to be slated among the year’s top industry events.
Every year, the TradePMR Synergy Conference is one of our biggest, most anticipated events. To share a little more about what attendees can expect at this year’s event, taking place May 21-24 in Las Vegas, we sat down with TradePMR’s Chief Legal Officer, Charles “Chaz” Reiling. Here’s what we had to say.
TradePMR’s annual conference, SYNERGY, offers advisors the opportunity to network with other growth-minded RIAs and industry thought-leaders, find solutions meant to invigorate firm growth, and learn how TradePMR is evolving its offering to meet advisor needs.1
The trajectory of innovation is rarely a straight line — and rarely a process completed in isolation. Whether building the latest wealth management application, rethinking a business model, or weighing an acquisition, technological and practical innovation means considering both potential advantages and disadvantages. The implications for a misstep along the path of progress can be outsized, but in a world of constant motion, staying the same is rarely tenable.
What does a homemade birthday card, a vanity license plate, and a financial plan have in common? Whether celebrating someone special, adding a pithy combination of letters and numbers to a vehicle, or offering bespoke advice, they all showcase the power and promise of personalization.
As most financial advisors are likely aware, there is a difference between the date when you trade a security and the date the transaction settles.
Making a sale is an exciting, necessary, and important step to growing a business. In wealth management, the products and services sold range from financial plans and investment management to insurance and trusts.
In a recent guest column for WealthManagement.com1, TradePMR founder and CEO Robb Baldwin examines some new data that suggests many RIAs are no longer growing organically.
Get ready for TradePMR’s CE-credited webinar on the impacts of artificial intelligence as Chief Client Growth Officer Bill Coppel and Atlas Point’s Head of Behavioral Science, Liz Strait, discuss the future of wealth management.
The exclusive live webinar will be held on March 14 at 2pm ET. Sign up today.
Business leaders and entrepreneurs know the power of intentional and thoughtful communication. In the wealth management industry, terms like “custodian” and “best interest” take on whole new meanings that are immensely dependent on context. Meanwhile, debates continue to swirl on whether products and services are “bought” or “sold.”
The RIA technology and custodial services provider ranked 10th among midsized companies in Florida.
GAINESVILLE and TAMPA, Fla. – February 07, 2024 – TradePMR, a technology and custodial services provider for Registered Investment Advisors (RIAs), ranked ninth in the Greater Gainesville Best Places to Work survey, featured in the December 2023 issue of the Guide to Greater Gainesville Monthly.1 The honor comes on the heels of TradePMR being named one of the Best Companies To Work For in Florida for the second consecutive year.2 Florida Trend magazine ranked TradePMR 10th among midsized companies in July3 after ranking the company 13th in the same category in 2022.
At TradePMR, we’ve never been shy about setting high expectations and the right tone. In light of that, TradePMR Founder and CEO Robb Baldwin commemorated the unofficial start of the 2024 conference season with an invite-only M&A Symposium during the first day of the Technology Tools for Today (T3) conference. Joining Baldwin was Joe Duran, CEO of Rise Growth Partners and founder of United Capital, and Dan Kreuter, CEO of Gladstone Group.
GAINESVILLE and TAMPA, Fla. – January 24, 2024 - TradePMR, a technology and custodial services provider for Registered Investment Advisers (RIAs), received the highest average advisor satisfaction rating from 2,917 financial advisors for its Fusion platform in both the Custodial Platforms and Online Portfolio Management categories. These rankings were highlighted in the 2024 T3/Inside Information Survey1, an annual survey distributed and analyzed by industry veterans Joel Bruckenstein and Bob Veres that was released Tuesday at the T3 Technology Conference in Las Vegas. The survey results were based on anonymous feedback collected from November and December, 2023.
GAINESVILLE, Fla. – October 3, 2023 - TradePMR, a technology and custodial services provider for Registered Investment Advisors, will host its seventh annual Oktoberfest fundraiser on Thursday, October 12, 2023, from 5:30 – 7:30 p.m. ET at TradePMR headquarters, 2511 NW 41st St in Gainesville, Fla. The event will feature craft beer selections from Gainesville’s own Blackadder Brewing as well as wine from Dorn’s Liquor and Wine Warehouse. Oktoberfest will also host Cilantro Tacos and B’z Gelati food trucks for dinner and dessert. Ken Block and Drew Copeland from Sister Hazel will perform. A l proceeds from Oktoberfest benefits the band’s non-profit foundation, Lyrics for Life.
GAINESVILLE and TAMPA, Fla. – September 13, 2023 - TradePMR, a technology and custodial services provider for Registered Investment Advisers (RIAs), today announced the conferences that it will be hitting the road in support of the wealth management and fintech industry during the second half of 2023. The firm is attending conferences to meet with growth-minded advisors in person about the trends impacting their businesses including new RIA software and evolving RIA custodial platforms.
In 2019, the SEC released the Regulation Best Interest rule1.
GAINESVILLE and TAMPA, Fla. – June 1, 2023- TradePMR, a technology and custodial services provider for Registered Investment Advisers (RIAs), announced today at its annual SYNERGY conference that it has launched a new version of its Fusion technology platform. With this launch, Registered Investment Advisers (RIAs) working with TradePMR can now access the provider’s top-rated technology1 from desktop, tablet, and mobile devices. The reimagined platform delivers a completely refreshed user experience as well as expanded trading capabilities and a secure Message Center.
Gainesville and Tampa, Fla. – May 18, 2023 – TradePMR, a technology and custodial services provider for Registered Investment Advisers (RIAs), today announced details for its annual SYNERGY conference, which kicks off in Tampa, Fla., May 31-June 2. The conference marks the first time the company has hosted its annual gathering of RIAs in the Tampa Bay area since expanding its offices outside Gainesville, Fla., in 2020. The SYNERGY23 theme “Accelerate” focuses on insights, services, and solutions designed to propel RIA operations and growth.
Gainesville, Fla. And Chicago, Ill., May 16, 2023. TradePMR, a technology and custodial services provider for registered investment advisers (RIAs), announced today an expanded technology integration with Advyzon, an all-in-one, cloud-based financial advisor technology platform. The integration is intended to streamline workflows for registered investment advisers (RIAs) working with TradePMR and Advyzon.
SYNERGY is more than a conference – it’s an opportunity. An opportunity to network with other growth-minded RIAs, to uncover solutions that can potentially facilitate firm growth, and to learn how TradePMR is evolving its offering to meet advisor needs.
Four Crucial Pillars for Your Cyber Program
GAINESVILLE and TAMPA, Fla. – April 6, 2023 - TradePMR, a technology and custodial services provider for Registered Investment Advisers (RIAs), announced today that it has added Charles Reiling as Chief Risk Officer. For more than two decades, Reiling has helped lead financial services organizations across the country. Reiling is admitted to the bar in Maryland and will leverage his financial services and legal expertise to support TradePMR and the RIAs it serves.
GAINESVILLE and TAMPA, Fla. – April 4, 2023 – TradePMR has published a new white paper for Registered Investment Advisers (RIAs) which addresses a critical issue facing the industry: cybersecurity. The report titled, “Understanding Cybersecurity and Mitigating Risk,” discusses the history of cybersecurity regulations, components of an effective RIA cybersecurity program, and the potential impact proposed legislative changes could have on a firm’s cybersecurity responsibilities. The paper was written by industry veterans Joel Bruckenstein, president of Technology Tools for Today, John O'Connell, founder of The Oasis Group, and Brian Edelman, founder and CEO of FCI.
Advisors considering a change in RIA custodians face a difficult challenge, but not an insurmountable one.
Jersey City, NJ and Gainesville, Fla., March 15, 2023 - CircleBlack, an all-in-one platform for relationship-focused advisors, and TradePMR, a technology and custodial services provider, announced today a new integration. The relationship is designed to enable RIAs working with TradePMR to leverage CircleBlack’s core capabilities including performance reporting, trading and rebalancing, billing, and document vault, along with integrations in place with the leading wealthtech vendors across CRM, planning, risk analysis, and more.
GAINESVILLE and TAMPA, Fla. – March 13, 2023 - TradePMR, a technology and custodial services provider for Registered Investment Advisors, announced today that it has added Bill Coppel as Vice President of Practice Management. For more than 30 years, Bill has led strategy, business development, marketing, sales management, and professional development in the wealth management and clearing/custody industries. In this new role, Coppel will be charged with expanding TradePMR’s practice management and advisor growth resources.
For RIAs, finding the right technology can be critical. Technology doesn’t just save advisors time; it can transform their practice and provide the infrastructure they need to meet their short- and long-term goals.
Note: This blog post was updated on August 22, 2024.
Every RIA will likely consider a change in custodians at some point. While change can be stressful, it can also present an opportunity for growing your business.
Owning and operating a registered investment advisor (RIA) firm is a dream come true for many advisors. With the independence model, advisors can run their businesses the way they want, from client service to growth plans to RIA technology choices.
With the proliferation of investor-facing fintech and robo-advisor technology, clients demand a better digital experience from their financial advisors than ever before. Clients expect their advisors to provide more than investment management - they’re looking for a guide that can support every aspect of their financial lives with complexity and clarity.
Before signing on with a new RIA custodian, advisors likely follow a few common steps: develop a list of providers, connect with other advisors, take technology demos, to name a few.
Lake Oswego, OR. – February 7, 2023 – Today, TradePMR, a technology and custodial services provider for Registered Investment Advisors (RIAs), announced a collaboration with the succession planning firm, FP Transitions, to provide integrated practice management and tailored consulting services to advisors on the TradePMR Fusion platform.
While independent financial advisors likely leverage a slate of RIA software and service solutions for their businesses, at the core of their tech stack is their RIA custodian.
RIA custodians should be 100% focused on helping advisors serve their clients. To do so, these providers need to deliver on two key points: technology and service.
Hundreds of RIAs across the country will tackle an RIA custodian transition this year. Some will move on their own terms, while others will take part in a major RIA custodian merger.
According to the Financial AdvisorTech Solutions map published by Kitces.com1, there are over 100 third-party technology vendors for registered investment advisors (RIAs) to choose from. The question becomes: what’s the right fit for your business?
2023 is here, and so are New Year’s resolutions.
Big-box stores have coopted the term value – as a result, it’s easy for us to associate a “good value” with something that’s cheap.
Any financial advisor can attest that first impressions are crucial in relationship building. They often set the tone when establishing a new client relationship and can determine how fast (or slow) you can close a new client.
Thousands of RIAs across the country are preparing for an RIA custodian merger in 2023. While this moment may feel unprecedented, it is far from the first RIA custodian merger.
Running an RIA can be a daunting task. It seems that every year there are new industry forces to contend with, new technologies to learn, and new regulations to navigate.
You’ve been busy recently! Perhaps you’ve been adding new clients, even as you’ve had to guide investors through a period of rapid interest rate changes and an election year. Or maybe you’ve been building out other areas of your business, like your marketing funnel or adding new automation.
Right now, there are hundreds of RIAs facing what could be a tricky situation for their businesses – a rapidly approaching RIA custodian merger.
Do you own your client data? This can be a loaded question for many RIAs.
Advisors considering a change in RIA custodians face a difficult task. There are seemingly endless factors to consider before making the leap and adding a new platform.
In 2020 Chicago-based Fairhaven Wealth Management decided it was time to change RIA custodians.
If your RIA is one of thousands currently navigating a custodian merger, you’re facing a difficult challenge. You need to carefully carry over important data and account information, consistently communicate updates on the move to clients, and learn an entirely new service and technology ecosystem.
There are currently trillions of dollars about to transition because of RIA custodian mergers. This massive amount of assets will need to move platforms, and in a relatively short timeframe.
Eagan, MN and Gainesville, FL. November 9, 2022. Panoramix, an innovative advisor technology platform, and TradePMR, a technology and custodial services provider, announced today a new technology integration intended to streamline and automate many of the processes for performance reporting and billing workflows RIAs are managing in their advisory businesses.
RIAs approaching a merger or otherwise considering a change in RIA custodians face a difficult task: finding the provider that’s the best fit for their unique firm.
Advisors that are considering a change in RIA custodians face a difficult challenge. Switching providers isn’t easy - it’s important to take the time to ensure your next provider is the right fit for the business in the long-term.
One thing we've learned from nearly 25 years of serving RIAs is that size does not determine the complexity of a firm's needs. Each RIA is unique and faces its own set of challenges and opportunities.
Big-name custodians with a retail offering serve two masters – RIAs and retail investors. That split focus means these providers divide their time and resources. Developing technologies and services that entice advisors as well as retail customers is a tall order, and offerings that benefit to one group may not always make sense for the other.
You have made the decision to switch custodians or possibly add a new one to the roster. Now what?
Every RIA is unique with different structures, challenges, and opportunities. As these firms grow, those structures, challenges, and opportunities become increasingly complex.
Advisors who are approaching a custodian merger or are otherwise considering a change in RIA custodians are facing a big decision.
With thousands of advisors approaching a major RIA custodian merger, it’s important to reflect on how these mergers have gone in the past.
Over 89% of big data has been produced within the last 2 years1. Big data refers to larger, more complex data sets that cannot be analyzed with traditional data-processing applications. Technology development is growing exponentially and is becoming increasingly complex every year.
Updated April 11, 2024
Before you sign on the dotted line, know what you’re paying for and don’t be afraid to negotiate.
When evaluating prospective RIA custodians, advisors are often bombarded with information. Expansive technology breakdowns, overwhelming vendor lists, and confusing rate sheets.
When you call into a massive call center, does it feel like you’re never going to get an answer to your question? That you’ll waste hours on end trying to track down the right person for help?
According to data from the SEC, about 30% of RIAs with between $100 million and $250 million in client assets use multiple custodians. That number jumps to 72% for firms with over $5 billion in assets. The data across the board shows that as firms increase in size, they tend to leverage more than one RIA custodian.1
Service can make or break an advisor’s relationship with their RIA custodian.
Question: does your current RIA custodian compete against your firm for new clients? Here’s a hint – if they are serving individual investors or have a retail channel the answer is probably yes.
Advisors that are considering a change in RIA custodians have a big task ahead of them. Making the move takes a lot of work but can bring immense benefits for a growing firm. The big challenge: finding the right provider to fit a RIA’s unique needs.
RIA custodians are more than technology and service providers – they are stewards of data.
Waiting on hold can be incredibly frustrating – and quite frankly, it can feel like a waste of time. The only thing that makes the experience worse is when an advisor takes the time to wait it out only to connect with someone who doesn’t understand their problem and can’t help them find a solution.
Advisors that decide to launch an RIA are a unique group. They are entrepreneurs who love to have control over their businesses. With every decision, these advisors look to improve the opportunities for their firm, their team, and their clients.
With the Fed announcing further rate hikes to fight inflation, the economic community is bracing for what could be an extended period of market volatility.1 For financial advisors, volatility is simply part of the business. In fact, many advisors see market volatility as an opportunity to show value to clients. To be there when they need support the most – staying in front of them and showing how the planning and preparation has kept them on track to meet their long-term goals.
Evaluating prospective technology providers is no small feat. There are hundreds of technology vendors for RIAs to choose from, it’s hard to even know where to begin.
TradePMR was founded nearly 25 years ago by Robb Baldwin, a former RIA (registered investment advisor).
Picture this: a brisk Superbowl Sunday. Your team’s huddled in the locker room getting ready for the biggest game of the year. Before kickoff, the captains lead a rousing pre-game pep talk. The whole team is fired up: there’s yelling, chanting, and a realignment on strategy to take home the win.
Over the past two decades, financial planning offerings have spread throughout the wealth management industry. What was once seen as a niche offering has become increasingly commonplace among RIAs.
Being one of the biggest firms in any industry can have perks. With size comes scale, and a company can make significant acquisitions – in essence, buy their way to become the biggest (after complying with anti-trust laws). After proper approvals are gained, that mentality may work for a firm's bottom line, but what impact does it have on the clients it serves?
So, it’s time for “the talk” with your clients.
RIAs face a unique challenge when it comes to technology: too many choices.
During an RIA custodian merger, there can be a lot of uncertainty. It seems like the story changes depending on the day.
Carpenters have a saying, “measure twice, cut once”. A similar sentiment can be shared about searching for a new RIA technology and custodial services provider.
Gainesville and Tampa, Fla. – August 10, 2022 – TradePMR, a technology and custodial services provider for Registered Investment Advisors (RIAs), has been named as one of Florida’s Best Companies to Work For. This is the first time the growing company has been named to the list featured in the August 2022 issue of Florida Trend magazine. TradePMR ranked 13th among mid-sized companies.
In recent years, multiple RIA custodians announced that they were moving to “zero-fee trading.” But what does that really mean? Does it mean free? Or no custodial fees?
Let’s face it, migrating clients to a new custodial service provider sounds like a big task – and it is. It will require extra time and it can potentially be a disruption to a RIA’s business. However, if handled properly, a trained transition team should be able to mitigate the short-term impact on advisors and their clients, while setting the firm up for long-term success.
RIAs (Registered Investment Advisors) now have access to a new tool designed to streamline their transition process. TradePMR has developed and launched a new account transfer tool focused on simplifying and accelerating the process for advisors to transition client accounts to TradePMR’s Fusion platform.
For any financial advisor that follows the industry news, it seems as if there is a new M&A deal being announced daily. In fact, according to DeVoe & Company’s RIA Deal Book, Q1 2022 saw the second highest level of M&A activity among RIAs out of any quarter dating back to 2013. The only quarter that was higher than Q1 of 2022? Q4 of 2021.1
The great wealth transfer is underway. Cerulli Associates anticipates that $72.6 trillion in assets will be transferred to heirs before 2045.1 The challenge for advisors? Winning the business of those heirs.
Advisors who decide to start an RIA fit a specific mold. They’re driven entrepreneurs looking to have control over their business. They’re looking to grow their practice how they want and build their teams in a way that will support those growth goals.
Financial advisors are potentially staring down the barrel of a recession – the markets are volatile, and the historical indicators point to a possible bear market. According to the team at Goldman Sachs, there is a 30% chance of a recession occurring over the next year, up from 15% in their last projection from earlier this year. Similarly, Bank of America predicts a 40% chance of a recession in 20231.
For some advisors, the RIA custodian transition process can seem insurmountable.
The ways that consumers find products and services has changed drastically over the past couple decades. While word-of-mouth may have been a sufficient marketing strategy back in the day, it could fall short for modern investors.
The math is simple: custodians have a finite number of support team members. As the custodian adds more advisors, there are fewer support team members per advisor until that custodian can add more staff.
It's been said that wealth management is indeed a relationship industry. Advisors work tirelessly to build and nurture strong relationships with clients. As any RIA will tell you, maintaining good relationships is practically a full-time job. But a client referral is among the most significant benefits of all the hard work.
Did you know that Amazon collects around one exabyte of purchase data from its customer base – an exabyte equates to around one billion gigabytes.1 In short, they have a ton of data.
1,097 days. That’s how long TradePMR had to wait between annual SYNERGY conferences as the world navigated a pandemic.
Mechanics suggest cars should get an oil change every six months. The dentist recommends teeth cleaning twice a year. In fact, water filters require replacement every two months.
Time to talk about the elephant in the room: client attrition during an RIA custodian transition. Even if a new custodial service platform could be the right fit for an RIA, the potential negative impact of that transition can be enough to push off a move.
There is an old saying in business, never waste a recession. RIAs and their clients are all asking the same question – are we staring down the barrel of a recession?
The RIA technology landscape is evolving rapidly - it seems like there are new platforms popping up daily to support nearly every aspect of an RIA’s operations.
Thousands of data points, ample opportunities for human error, client relationships on the line. For RIAs, the stakes couldn’t be higher when transitioning custodians.
Every year, Apple releases a new iPhone. User experiences are continually updated for Netflix and Hulu. Amazon Prime refreshes delivery recommendations and expands how users can place orders online. Teams at the most innovative companies work tirelessly to make sure their product evolves with consumer expectations to deliver what makes the most sense in today’s market.
We’ve all heard the RIA custodial transition horror stories: confusing technology, non-existent support, time-intensive manual processes. It’s no wonder many RIAs opt to stay with their current providers. Even if they feel a change could benefit their business in the long-term, the fear of the transition can hold them back.
TradePMR’s Fusion technology was recently named the top-rated Custodial Platform and Online Portfolio Management Tool in the T3/Inside Information Advisor Software Survey1.
Orlando, Fla., May 24, 2022 -- TradePMR, a technology and custodial services provider for Registered Investment Advisors (RIAs), will kick off its signature conference SYNERGY22 Unleashed, on Wednesday May 25 through Friday, May 27 at The Ritz-Carlton Orlando, Grande Lakes. The event marks the return of the annual conference that gathers Registered Investment Advisors (RIAs) from across the country with some of the wealth management industry's top technology and service providers for the first time since 2019.
RIAs looking to build a tech stack face a big challenge: where to begin?
Gainesville, Fla. – May 11, 2022 – TradePMR, a technology and custodial services provider for RIAs, received the highest average advisor satisfaction rating from more than 4,495 financial advisors for its Fusion platform in both the Custodial Platforms and Online Portfolio Management categories. These rankings were highlighted in the T3/Inside Information Survey1, an annual survey distributed and analyzed by industry veterans Joel Bruckenstein and Bob Veres that was released at the T3 Advisor Conference in Denton, Texas. The survey results were collected from December 2021 through March 2022.
It is not surprising that RIA firms capture and have access to an enormous amount of data about their prospects and clients. Many advisory firms capture a large amount of client data during their initial discovery process with the client, and that data continues to build over the course of the client relationship.
A niche can be powerful for a business.
When booking a flight, we all probably start by looking at the big airlines like Delta, JetBlue, American Airlines. If we’re getting a new phone provider, we probably start with Verizon, AT&T, T-Mobile.
Your call is important to us. Please stay on the line while we connect you with a representative... 45-minutes later, you’re right where you started. Sound familiar?
If you’re shopping for a new cable provider, you expect to get a pricing rate sheet. Pay X, get these channels, pay Y, get these channels, and so on and so forth. No customization; just pick one of the packages – it may not have everything you want, and you’ll probably get stuck paying for some channels that you’ll never watch, but that’s how it’s done.
RIA firm data can influence everything from operations to client service to firm valuation. But before advisors can look to analyze and utilize that data, they need to figure out what data they have. One of the first points about data that we need to clarify is how that data is formatted. Data sets can be considered either structured or unstructured.
When breaking away from a wirehouse to launch a new RIA, advisors are faced with a significant decision. Do they choose to work with a big-name custodian that they’ve known about for years? Or do they leap and work with a more boutique offering that could be a better fit for their business but may not have the scale they’re used to from their wirehouse?
At TradePMR, we believe that for technology to fit the needs of RIAs, it must evolve. What worked five years ago may not make sense today, and almost certainly will be outdated five years from now.
Brian Bischoff started his career like many other RIAs: at a wirehouse. Today, he is a principal and financial advisor at Bischoff Wealth Management in Greenwood, Indiana.
“White-glove service” is a phrase that gets thrown around a lot. It seems like every vendor boasts white-glove service, but what does that really mean?
SYNERGY22 is rapidly approaching, and there is a lot to look forward to. While there will be no shortage of exciting sessions, guest speakers and networking events, there is one time slot that we're particularly excited for – Fusion Roadmap Preview: 10 a.m. ET on Friday, May 27.
Do you own your data? That may sound like a strange question. Why wouldn’t you own it? It’s yours after all!
TradePMR started with one big goal in mind: to offer RIAs a custodial service provider that understands their needs and provides support and technology designed to facilitate their success. For more than 20 years, we feel like we’ve done just that.
It’s hard to believe that it’s almost been three years since our last SYNERGY conference. With the pandemic forcing us to push off our 2020 and 2021 in-person events, we’re more eager now than ever for a reunion.
I started my career as a financial advisor. I was one of the few advisors who launched an RIA back in the 90s – I immediately fell in love. I loved having the freedom to build my business the way I wanted to and work with clients the way I had always envisioned. I felt like the independent model let me focus 100% on my clients without any conflicts of interest. Having started my career as a broker at a larger financial institution, owning my own RIA was a dream come true.
RIAs face difficult decisions every day. They are constantly looking for ways to improve their business while maintaining stellar service for their clients. Even when there is an opportunity to enhance the technology suite or upgrade providers, the anticipated pain of change can be enough for advisors to push off a move.
Updated April 10, 2024
If you’re thinking of moving to a different home, you would probably like to see the new place in person before making one of life’s significant financial commitments. You can get an idea of what the house looks like from pictures, but it’s always better to walk the halls and make sure you know what you’re buying before determining a fair offer.
Over the past year, many of us have had to change our travel plans. Canceling flights: a simple task that is never easy. We’re forced to navigate the endless phone menus of major airlines, all while trying to make sure we can get some refund to use on a future trip. By the end of the experience, the time we’ve wasted to cancel the flight often feels like more trouble than it’s worth. It makes us miss the days when we could speak to someone on the phone.
TradePMR CEO and Founder Robb Baldwin has published a piece in this year’s WealthManagement Midyear Outlook titled, “Take Control of Your Custodial Transition.” Having tackled hundreds of technology and custodial service moves over the years, Robb shares his advice on steps RIAs can take to streamline their custodial service and technology transition. He points to the importance of owning client data, how advisors can leverage the strength of their entire team and offers advice on how RIAs can keep their clients front and center throughout their transition.
A Q&A with TradePMR Head of Trading, Jason Simmons
RIAs utilizing the Fusion platform can access the advanced trading tool at no additional cost.
With a strong vaccination rollout and states nationwide removing COVID-19 restrictions, everything is starting to feel “normal.” While we’re all likely going to keep up some of our pandemic practices – for example Zoom meetings and hybrid office models – there will certainly be a return to in-person meetings and events. So, how can we navigate this move? How can advisors capture this moment to create opportunities for their business?
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Sources and Disclosures
1 Baldwin Named one of “20 People Who Will Change Wealth Management in 2020” by the editors at Financial Planning magazine, December, 2019
22024 T3/Inside Information Advisor Software Survey, Joel Bruckenstein and Bob Veres, January 2024, sponsored by SEI, Advyzon, FP Alpha, Addepar, XLR8, and FMG. T3/Inside Information Survey, Joel Bruckenstein and Bob Veres, May 2022, sponsored by AssetBook, Holistiplan, Advyzon, Addepar, and Fidelity Investments. T3/Inside Information Advisor Software Survey, Joel Bruckenstein and Bob Veres, March 2021, sponsored by Salesforce, and 2019 Software Survey, Joel Bruckenstein and Bob Veres, January 2019, sponsored by Orion Advisor Services and Morningstar, Inc.
3 Business Intelligence Group Announces the Winners of the 2019 Excellence in Customer Service Awards; Philadelphia, PA, May, 2019
4 50 Most Promising FinTech Solution Providers – 2019, CIOReview, May 2019
5 EZRA GROUP Wealth Tech Integration Score, Overview, and Methodology. EZRA GROUP and TradePMR are separate and unaffiliated companies. Custodians do not pay a fee to be evaluated and ranked.
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