RIA Custody: Technology, Innovation, and Strategic Direction

Vendors are competing for oversight of front-end applications and data integration.

Boston, February 28, 2019 – U.S. correspondent clearing firms and custodians are competing with technology vendors and fintech firms to remain relevant to advisors. Custodians are trying to enhance their value proposition by leveraging data to create predictive models and deliver better business outcomes for RIAs and investors, and they are focused on enhancing their economics by helping advisors become larger and more efficient through their use of integrated technologies.

This report explores the technology and platform development initiatives of key custodial providers Fidelity, BNY Mellon Pershing, Royal Bank of Canada, and TD Ameritrade. The report also highlights other market entrants Apex Clearing, DriveWealth, and Folio Investing. Throughout Q3 and Q4 2018, Aite Group conducted 25 in-depth interviews and extensive platform demonstrations with leading U.S. correspondent clearing firms and RIA custodians to form the basis of this report.

This 63-page Impact Report contains nine figures and seven tables. Clients of Aite Group’s Wealth Management service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions AdvicePay, AdvisorEngine, Advyzon, Agreement Express, Altair Advisers, American Capital Partners, Broadridge, Brookstone Capital Management, Cambridge Investment Research, CircleBlack, Commonwealth Financial Network, CreditEase, Dakota Wealth Management, DocuSign, Edelman Financial Engines, Envestnet, F&V Capital Management LLC, Fifth Third Bank, Five Mile River Investment Management LLC, FTJ FundChoice, GainsKeeper, Google, HD Vest, iPipeline, Jemstep, JPMorgan Chase, Kore Private Wealth, L.M. Kohn & Company, Ladenburg Thalmann, Laser App, Lincoln Financial Network, Marstone, Mercer Global Advisors, MoneyGuidePro, Morningstar, Orion, PEAK6 Investments LLC, Perkins Capital Management Inc., Personal Capital, PNC, Prudential, Quik, Redtail, Riskalyze, Sage Mountain Advisors, Salesforce, Sprott Global Resource Investments, Tamarac, TD Ameritrade, The Carson Group, Uber, United Capital, Vestmark, and Wealthbox.

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