RIA Portfolio Management and Reporting Systems: Market Overview

Report Summary

RIA Portfolio Management and Reporting Systems: Market Overview

Of the estimated 23,500 RIAs in the market, 9,000 to 14,000 still use very basic tools for portfolio management and reporting.

Wally Okby
Strategic Advisor

April 13, 2023 – The registered independent advisor (RIA) channel is quite fragmented. Established veterans are competing fiercely against newer players that have grown remarkably since their inception a few brief years ago. Aite-Novarica Group’s vendor community estimates current RIA market adoption of sophisticated portfolio management and reporting systems at around 40% to 60%. This represents a substantial market opportunity for cutting-edge systems of US$1.2 to US$1.3 trillion.

This Impact Report addresses the major trends among the vendor market for portfolio management and reporting systems aimed at the U.S. wealth management industry, with a particular focus on the RIA segment. This Impact Report is based on interviews and discussions with executives at wealth managers across the U.S., leading client reporting vendors, and third-party consultants, as well as desk research.

Clients of Aite-Novarica Group’s Wealth Management service can download this report.

This report mentions Addepar, additiv, Advisor360°, BridgeFT, Broadridge, DriveWealth, Envestnet, Fidelity Institutional, First Rate, FNZ, InvestCloud, Masttro, Merrill Private Wealth Management, Morgan Stanley, Morningstar, MyVest, OneVest, Orion, Pershing, Private Wealth Systems, RBC, Redtail Technology, Refinitiv, Risclarity, SS&C, Temenos, and UBS.

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