Vendors
日本語
search
  2. //
  3. Reports & insights
  4. //
  5. The RIA Market is an Attractive and Complex Opportunity for CRM Providers

The RIA Market is an Attractive and Complex Opportunity for CRM Providers

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
15 February 2023
Ashley Longabaugh

My upcoming report, CRM: Capturing the Hearts and Wallets of the RIA Market: Using CRM to Differentiate the Client Experience, addresses the fast-growing RIA market and the opportunity that exists for CRM providers to capture this segment of the wealth management industry. CRM platforms, which have evolved as a result of modern technologies facilitating data-driven workflows and the execution of client-centric strategies, are vying for RIA market share.

  • The RIA market is growing fast
    • Advisors continue to leave large wirehouses and broker-dealers in favor of the hybrid or independent channel
    • The market is fragmented, with varying technology needs
  • Much of today’s CRM technology is clunky, expensive, and designed for larger wealth management firms although there are a few popular solutions within the breakaway RIA market for price conscious and resource-constrained firms
    • CRM solutions are highly concentrated among a few vendors
    • The CRM landscape is crowded but market share is shifting
  • RIAs can improve their client-advisor experience by implementing a CRM that offers streamlined and easily customizable workflows which will grow with the advisor and their business over time
    • RIAs need a CRM platform that offers a turnkey experience that supports scalable businesses and hybrid WM services
    • Tighter integrations with existing tech stacks and point solutions, especially portfolio management, risk analysis, and financial planning capabilities are a key point of differentiation
    • Data management and orchestration across the ecosystem can provide a personalized and holistic client view