At a glance
- The article frames the goal as finding the point where technology is useful and affordable at the same time.
- For a principal weighing a sale, data ownership becomes a succession question as much as a technology one.
- The coverage does not put a figure on either half of that balance, so the affordability test is one each firm runs on its own numbers.
Smaller RIAs need to take a closer look at owning and warehousing their own data, according to a Financial Planning article published Oct. 23. The article frames the goal as finding the point where technology is useful and affordable at the same time.
For a principal weighing a sale, data ownership becomes a succession question as much as a technology one. The article puts an exit strategy on the same footing as the way in, which suggests the question of who holds the firm's records belongs alongside the plan for selling it.
The coverage does not put a figure on either half of that balance, so the affordability test is one each firm runs on its own numbers.
Reported by the Practice management desk from Financial Planning. Published . Corrections