Launching a new Registered Investment Advisor (RIA) requires more than choosing a custodian and onboarding clients. Technology, security, IT compliance, and remote work capabilities must be established quickly and correctly. A newly formed RIA with a three-person team needed a secure, productive technology environment that allowed employees to work remotely while maintaining the standards typically associated with much larger firms.
The firm partnered with RIA WorkSpace to implement a secure technology platform, enable remote work, support collaboration, and provide enterprise-level security features without the complexity of traditional virtual desktop environments.
Client Snapshot
Industry: Registered Investment Advisor
Firm Stage: Newly Established RIA
Employees: 3
Work Environment: Fully Remote Workforce
Problems Addressed in This Case Study
- Launching a new RIA securely
- Supporting a remote workforce
- Implementing enterprise-grade security
- Maintaining productivity while working remotely
- Evaluating alternatives to Citrix and VDI
- Building a technology foundation for growth
- Secure file sharing and collaboration
- Balancing security with simplicity
- Supporting IT compliance requirements
- Creating a modern technology environment from day one
The Challenge
Starting a new advisory firm creates unique technology challenges. This firm’s leadership wanted to establish a secure environment for employees working remotely while maintaining the productivity and capabilities commonly found in larger organizations. At the same time, the firm needed to move quickly and avoid unnecessary complexity.
Several priorities emerged early:
Security for a Remote Workforce
Because employees would be working remotely, creating a secure environment for accessing firm resources and client information was a top concern.
Replicating the Experience of a Larger Firm
The founder previously worked within a larger RIA and wanted access to many of the same security and productivity capabilities. Identifying which technologies were necessary and implementing them quickly was critical.
Evaluating Citrix and Virtual Desktop Infrastructure (VDI)
Initially, the firm considered Citrix and virtual desktop solutions because they were familiar technologies from the founder’s previous experience. However, concerns about cost, complexity, and potential audio and video limitations led the firm to explore alternative approaches.
Understanding Remote Work Requirements
Leadership wanted a better understanding of how technology could support collaboration, productivity, and security for a fully remote team.
The Solution
RIA WorkSpace implemented a technology environment designed to support security, collaboration, and remote work while avoiding the complexity of traditional virtual desktop infrastructure.
Enterprise-Grade Security
Although the firm had only three employees, it required the same level of protection expected by much larger organizations. Advanced security measures were implemented to help protect sensitive information and communications.
Secure Remote Work
Employees received secure access to the tools and resources they needed to work effectively from any location. The environment was designed to support both productivity and security without creating unnecessary barriers for users.
Collaboration and File Sharing
The firm implemented collaboration tools that supported secure file sharing and real-time document collaboration, helping employees work together efficiently regardless of location.
A Simpler Alternative to VDI and Citrix
Rather than deploying a traditional virtual desktop environment, the firm adopted a locally hosted solution that avoided much of the complexity, cost, and performance concerns associated with those platforms.
Results
Enterprise-Level Security from Day One
The firm launched with security controls typically associated with larger organizations despite having a small team.
Improved Productivity
Employees gained access to productivity and collaboration tools that supported efficient remote work and day-to-day operations.
Reduced Complexity
By avoiding a traditional VDI or Citrix deployment, the firm was able to simplify its technology environment while still achieving its security and productivity goals.
Technology Ready for Growth
The firm established a secure technology foundation capable of supporting future growth while providing the flexibility required by a modern advisory business.
Client Feedback
Recent support feedback included:
“Sam was very helpful and patient as we had to have a back and forth with one of our vendors. Thanks Sam!”
“Thanks Joe. Great work as always!”
“Great help as always! Thank you.”
Frequently Asked Questions
What technology should a new RIA prioritize first?
Most new RIAs begin by addressing security, remote access, collaboration, file management, and productivity tools. The goal is to establish a foundation that supports both current operations and future growth.
Deeper Dive: Podcast – Are You Starting a New RIA? What’s the Best Tech Stack for a Five-Person Team?
Do small RIAs need enterprise-level security?
Yes. The size of a firm does not eliminate cybersecurity risks. Many smaller firms seek security controls similar to those used by larger organizations because they manage sensitive client information.
Is Citrix or VDI required for remote work?
Not necessarily. This case study highlights a situation where a firm evaluated those technologies but ultimately chose an alternative approach that better aligned with its goals and requirements. You can learn more in our RIA Tech Talk Podcast “The End of the Virtual Desktops for RIAs” to help make a decision for your firm.
How can a new RIA support collaboration with a remote workforce?
Modern collaboration tools can support secure file sharing, document collaboration, communication, and productivity regardless of employee location.
What should RIAs consider when building technology for a new firm?
Security, IT compliance requirements, employee productivity, remote work capabilities, scalability, and ease of management are all important considerations when selecting technology platforms.
Building a New Firm Is Challenging Enough
Launching a new RIA involves countless decisions. Your technology platform should help simplify operations, support employees, and protect sensitive client information, not create additional complexity.
Whether you’re launching a new advisory firm, transitioning from a larger organization, or evaluating technology options for a growing team, a thoughtful technology strategy can help establish a stronger foundation for long-term success.
Schedule a Discovery Call with RIA WorkSpace to discuss your firm’s technology goals and challenges.