Choosing the right IT partner is an essential decision for any registered investment advisor (RIA) or financial advisor. RIA and financial advisory firms require robust IT services, top-notch cybersecurity, and stringent IT compliance to ensure the safety and security of their clients’ sensitive data. With the increasing number of cyberthreats and regulations, it’s imperative to find a reputable company that can handle all of these aspects effectively.
While our team at RIA WorkSpace strives to be your top choice for IT support, we recognize that there are other qualified providers in the market. In this blog post, we’ll take a look at some of the best IT support companies for RIAs and financial advisors to help you make an informed decision.
What to consider when choosing an IT support company
Before diving into our recommendations, there are several factors to consider when selecting an IT support company for your RIA or financial advisory firm. Here are some key points to keep in mind:
- Experience and expertise – Look for companies that specialize in providing IT support specifically for RIAs and financial advisors. They should have a deep understanding of the unique technology needs and compliance requirements of the wealth management industry.
- Security and data protection – As an RIA or a financial advisor, you handle sensitive client information on a daily basis. It’s crucial to choose an IT support company that prioritizes security and has robust measures in place to protect your data.
- Proactive approach – The best IT support companies don’t just solve problems; they proactively monitor and manage your systems to prevent issues from occurring in the first place. This approach not only saves you time and money, but it also helps you avoid potential headaches down the line.
Top IT support companies that cater to RIAs and financial advisors
Here are some of the most trusted names in RIA IT support, along with a glimpse into their areas of expertise, in no particular order.
1. Venn
Formerly known as OS33, Venn made its name by focusing on the wealth management industry, carving out a niche for its specialized services. They have since rebranded and now provide various software solutions, shifting away from their original focus on RIAs.
2. Itegria (Acquired by Comply)
Itegria has undergone multiple acquisitions, first by RIA in a Box and then by ComplySci. Once known for its virtual desktop infrastructure or VDI services, Itegria is now seen as outdated and no longer heavily invested in technology for RIAs with 5–25 employees. They have shifted their focus away from managed IT services to compliance-related solutions.
3. True North Networks (Acquired by Visory)
True North Networks was acquired by Visory. They previously focused on RIAs but have since expanded to serve various industries, including accounting, construction, and small- and medium-sized businesses (SMBs). The acquisition led to a decline in their service quality and focus on RIAs.
4. RightSize Solutions (Also acquired by Visory)
Similar to True North Networks, Rightsize Solutions was acquired by Visory. Once dedicated to the RIA vertical, they now cater to different sectors such as accounting, construction, and SMBs. The acquisition has negatively impacted their service quality.
5. Visory
Visory, owned by Bluff Point Associates, focuses on three main verticals: RIAs, accounting, and construction. This private equity firm acquired several companies across these different sectors. Initially known as Swizznet, Visory has gone through multiple rebrandings and acquisitions. The acquisition of True North Networks and RightSize Solutions has diluted their focus on RIAs, affecting their service quality.
6. ECI (Eze Castle Integration)
ECI, known for its focus on private equity firms, provides IT services that are primarily geared toward large private equity firms and hedge funds rather than small to mid-sized RIAs. Although their focus might not align perfectly with smaller firms, their deep expertise in dealing with high-stakes environments could be beneficial for RIA or financial advisory firms operating at or aspiring to such scales.
7. Local IT providers
In addition to the national players, many local managed IT services providers, or MSPs, and IT providers offer generic IT services. While they can be cost-effective and provide personalized service, they often lack specialized knowledge and solutions tailored to the unique needs of RIAs and financial advisors.
RIA WorkSpace: Designed for your RIA firm
While the aforementioned companies are all reputable and experienced in providing IT support, RIA WorkSpace offers a unique approach that sets us apart from the rest. Our team of dedicated professionals has nearly 20 years of experience in providing customized IT solutions specifically designed for small- and medium-sized RIAs and financial advisory firms.
We understand the importance of data security and compliance, and have meticulously developed our services to meet the highest standards in these areas. Our proactive approach means we’ll constantly monitor and manage your systems to ensure smooth operations for your firm. With RIA WorkSpace as your IT partner, you can focus on what matters most: providing exceptional service to your clients.
Why Choose RIA WorkSpace?
While there are several reputable IT service providers in the market, RIA WorkSpace stands out for several reasons:
- Industry expertise – Our deep understanding of the RIA industry allows us to provide customized solutions that meet your specific needs.
- Comprehensive services – We offer a full range of services to cover all your IT requirements, from IT support to cybersecurity to compliance.
- Dedicated support – Our team is committed to providing exceptional support, ensuring your IT systems run smoothly at all times.
- Proactive approach – We take a proactive approach to IT management, preventing issues before they arise and minimizing downtime.
Choosing the right IT provider is crucial for the success and security of your RIA or financial advisory firm. With RIA WorkSpace, you can be confident that your IT needs are in expert hands, allowing you to focus on what you do best: serving your clients.
Want to find out if RIA WorkSpace is the right fit for your firm? Get a quote today.