top of page

Tech Trends: Pandemic & Reg BI Prep

Updated: May 15, 2020

Technology Upgrade Most Useful to Top Advisors

By Miriam Rozen May 14, 2020

E-signature technology and customer relationship management systems are the top picks among top Financial Times-listed brokers and advisors when asked which tech upgrade has made the most meaningful difference to their practice over the past 12 months.

The top picks were identified by 25% of top brokers and advisors surveyed by FA-IQ sister publication Ignites Research in February and March. Brokers and advisors make it to the respective Financial Times lists based on scores in six criteria: AUM, AUM growth rate, years in existence, advanced industry credentials, online accessibility and compliance records.

“The decision to move our trading, reporting and CRM under one integrated platform through Tamarac has made the most significant impact on our firm,” Mark Willoughby, chief operating officer, principal and wealth manager at the Atlanta office of Modera Wealth Management, which has around $400 million in client assets, tells FA-IQ.

“The system automatically pulls data from multiple integrated systems so we can monitor business development goals, referral sources, funding activity and other information, enabling us to make more intelligent decisions on how to reach company metrics and what opportunities make the most strategic sense,” he adds.

The e-signature technology, meanwhile, has become even more important since the coronavirus pandemic.

Rick Simonetti, head of Wells Fargo’s private bank unit’s wealth planning division, has — since the pandemic started — had more calls from clients about estate planning, with FAs reporting a 10% increase recently in clients seeking those services. But with stay-at-home orders so prevalent, his team’s FAs no longer handle clients’ estate planning in person, but through video conferences, online analytical tools and other communication apps, Simonetti says. Simonetti notes that New York lifted a barrier to getting estate planning finalized amid the pandemic.

Normally, New York, like most states, requires notaries to have in-person contact when providing their services to finalize the signing of wills and often other trust-related documents. But under an executive order issued last month, New York governor Andrew Cuomo allowed notaries to use instead “audio-video technology” that allows for “direct interaction” between the notary and signatories. That’s as long as the signers present photo identifications during the video session and “not merely transmit it prior to or after.”

Ignites Research surveyed 455 advisors – 63% of the advisors (288) were members of the top FT 400 brokers and 37% (167) were members of the top FT 300 RIAs. The survey was conducted before the coronavirus outbreak was classified as a pandemic. Brokers and advisors make it to the respective Financial Times lists based on scores in six criteria: AUM, AUM growth rate, years in existence, advanced industry credentials, online accessibility and compliance records.

For more articles like this one, go to Advisor IQ is an information service of Money-Media, a Financial Times company. Please note that your email address will be stored to monitor compliance with our Terms & Conditions. In addition, if you work for a firm which has an existing license to Financial Advisor IQ, we may contact you with details on how to be added to the license at no additional cost. If you do not wish to be contacted for this purpose, please click hereto send an email request for removal.

Copyright 2020 Money-Media, Inc. All rights reserved.

11 views0 comments

Recent Posts

See All


Check the background of your financial professional on FINRA's BrokerCheck.


Tel:      248.498.4800

Fax:     248.498.4816 

2050 Livernois Road
Suite B
Troy, MI 48083

  • Facebook
  • LinkedIn
  • Twitter


Tel:     248.353.6570

Fax:    248.352.3612 

28411 Northwestern Hwy
Suite 1200
Southfield, MI 48034

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. 

America Group Retirement Strategy Centers © 2020. All Rights Reserved. 

Terms of Use

Securities and Advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA SIPC. The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state. 

bottom of page