A reliable cloud platform is essential to the success of any modern small- or mid-sized business. And while Amazon Web Services (AWS) is a popular choice for many businesses, Microsoft Azure is an equally excellent, if not better, option for Registered Investment Advisors (RIAs) and financial advisors like you. You need a platform that’s productive, secure, and compliant — and Azure hits all those marks.
Here’s a look at why migrating from AWS to Azure makes sense for RIA and financial advisory firms, as well as how to make the transition painless.
Which is better for RIAs: AWS or Azure?
Amazon and Microsoft are two of the biggest names in cloud computing, and for good reason. They are both reliable, offer a ton of features, and are constantly expanding their offerings. However, there are several reasons why Azure may be a better fit for RIAs and financial advisors.
First and foremost, Azure is built on a true hybrid cloud infrastructure. It can make it easy to connect your on-premises applications and data to the cloud. In contrast, AWS is more focused on delivering a pure public cloud experience. That is, it’s designed to run applications and store data exclusively in the cloud.
If you’re like most RIA firms, you probably have some legacy applications and business or client information that you can’t or don’t want to move to the cloud. Azure makes it easy to keep those applications running while also taking advantage of the cloud’s scalable and flexible storage.
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Azure also comes with a number of features and services that are specifically designed for compliance-sensitive industries like financial services. For example, Azure Active Directory and Azure Information Protection can help you meet stringent data security and privacy requirements set by the Securities and Exchange Commission and the Financial Industry Regulatory Authority.
Additionally, Azure offers a number of productivity-enhancing features, such as built-in machine learning and artificial intelligence capabilities. And because Azure is part of the Microsoft ecosystem, it integrates seamlessly with other Microsoft solutions like Microsoft 365 apps and Power BI. This can boost productivity by making it easy for your employees to access the tools and information they need, when they need it.
Finally, Azure is more cost-effective than AWS if you already use Microsoft products and services. AWS is five times more expensive than Azure for Windows Server and SQL Server workloads. By migrating to Azure, you can take advantage of your existing Microsoft licenses and save a significant amount of money.
How to make the move to Azure
Now that we’ve looked at some of the reasons Azure is a great fit for RIAs and financial advisors, let’s talk about how to transition from AWS to Azure.
The first thing you need to do is take inventory of your applications and data. This will help you determine which software and information can be moved to Azure and which need to stay on premises.
You also need to consider how you will connect your on-premises applications and data to Azure. There are a number of different options available, so it’s important to work with your IT provider to find the best solution for your needs.
The next step is to perform the actual migration process. This is where working with an experienced IT provider can really come in handy. They will be able to help you move your applications and data quickly and efficiently, with minimal business disruptions and downtime.
Finally, you need to think about how you will manage and monitor your Azure environment after the migration. Azure provides a number of tools and services to help you do this, but working with an experienced IT provider can make the process much easier. They’ll help you create a plan to ensure that your cloud applications and data are always available and secure.
Working with the right provider is key
Migrating from AWS to Azure doesn’t have to be a daunting task. By working with an IT provider that specializes in technology solutions for RIAs, like RIA WorkSpace, you can transition quickly and painlessly. And by taking advantage of Azure’s many features and benefits, you can significantly improve your RIA or financial advisory firm’s productivity, security, and compliance.
If you’re ready to learn more about how Azure can benefit your business, contact RIA WorkSpace today. Our experts will be happy to answer any questions you have and help you get started with your cloud migration.