Broken Processes Defeat Good Technology
Here's something I see consistently when working with emerging RIAs: firms investing in premium technology but not getting the results they expected.
The missing piece? Well-designed processes.
Think of it this way: workflows act as an amplifier. If you have good technology, efficient and well-thought-out workflows will make them even better. But if your processes are unclear or inefficient, technology will only complicate the situation and help you do the wrong things faster.
When evaluating technology for RIAs, I focus less on which specific platform you choose and more on how your entire system works together. Sure, there are meaningful differences between Redtail and Wealthbox, or eMoney and RightCapital. But here's what I've learned: most modern solutions have similar core capabilities.
What really drives outcomes is building intentional workflows around your technology and ensuring seamless integration across your entire stack.
This means:
Mapping out your ideal process and selecting tools that meet your needs
Designing workflows that eliminate unnecessary steps
Training your team on both the "how" and the "why"
Regularly reviewing and refining your processes
🎯 Your Take
What is one workflow in your practice that should be simple but somehow always ends up taking way longer than it should?
📱 View and continue the conversation on the LinkedIn post: Tuesday Takes: Broken Processes Defeat Good Technology
💡 My guide on continuous improvement: Continuous Process Improvement and Optimizing RIAs
