How To Tell When It’s Time To Replace Your Investment Platform

How To Tell When It’s Time To Replace Your Investment Platform

How To Tell When It’s Time To Replace Your Investment Platform

Choosing your investment platform is a big decision. This will make up the base of your operations and business performance. Essentially, it’s what will drive your company towards success. However, if it’s limiting your abilities as a wealth manager, it could be the downfall of your hard work.

Selecting the right technology and resources can not only make your life easier but it can enhance your clients’ investment experience too. Unfortunately, like consumer needs, technology is always changing and as a result, we have to adapt. If your investment platform has put a few miles behind it and is lagging behind in the digital age, it may be time to consider an upgrade.

Replacing your legacy software can be extremely beneficial. From offering new services to your clients, to even growing your customer base, finding a system that addresses your business’s needs is essential. In this article, we will discuss which key features to look out for when upgrading to a newer investment platform in order to help you make the best choice.

6 Key Features to Assess When Replacing Your Investment Platform:

Keeping up with consumer demands for new features and services is an integral part of running a thriving wealth management business. On top of that maintaining compliance and high reporting standards can’t be done without. For this reason, businesses will always need technological upgrades. By frequently considering how your investment system is serving you and your clients, you can continue to win in the financial industry.

Technological Capabilities

Before analysing any other features and functions, technology should be at the top of your list.  The software or engine that drives the platform should seamlessly support your business’s daily needs. If your systems are giving you a headache more than they’re allowing you to reap the rewards, it may be time to consider a change.

Furthermore, when using outdated software, you run the risk of facing a consistent inability to finish your tasks and manage your business. In other words, it will become a liability rather than an asset. To mitigate this risk, it’s best to look at the tasks surrounding your business and your daily requirements. Your investment platform should match these needs and provide the power to drive this process. For example, wealth managers with a larger client base should consider a platform with impressive data storage with higher bandwidth capabilities.


Productivity & Efficiency

With the help of an efficient investment platform, your administrative workload should lessen and free up your time to handle key wealth services. Remedial tasks like billing and account management should be accessible through a few clicks. If this isn’t the case, an upgrade is in order.

The greatest aspect of using the right technology is that completing manual, non-value-add tasks can be handled under one system. With this in mind, as you look for your upgrade, consider those that won’t disrupt your workflow but rather streamline it.

Feature Practicality

Are you facing frequent problems and breakdowns with your current software? Are you constantly finding yourself struggling to complete basic tasks? If this sounds familiar, there may be a few blind spots in your program’s features.

It’s important to note that while outdated technology can cause system breakdowns, it could also be your ability to utilize its functions. Whether its dysfunctional navigational layouts or an over-complicated process, your choice of investment software should work with you rather than against you. In your hunt for a new platform, search for features that match your technological skill levels and needs.

Function Versatility

The financial sector is full of various client demands.  As such, your investment platform should reflect a unique approach to your customer service and help you accommodate each clients’ need.

A sound indication that your investment platform requires an update is if you’re struggling to meet the versatility of your clients. Delivering investment services that are in line with your target audience’s requirements can grow your client base and pave the way to success. This will particularly bode well for higher net worth clients too as it demonstrates effective service management.


The problem with ageing systems is that not only are their functions out-dated but their security features are too. Systems that aren’t being actively checked are vulnerable to data hacking or compromise. As a wealth manager, losing client data can lead to massive issues for both your business operations and your legal standing.

With newer software, this isn’t the case. Cybersecurity has become a key component to most systems and therefore should provide you with the protection you need.

Product Support

No matter which platform you choose, there are bound to be a few learning curves. The importance here is that while you may run into issues, they are quickly resolved by the product’s support team.

Fast and attentive customer services is a major component of choosing the right investment platform for your business. Even if the smallest of problems arise, fast and attentive solutions are what you should look for. The problem with these smaller issues is that they can quickly lead to a major breakdown which is what you ultimately want to avoid.


When evaluating your platform’s needs, it’s best to measure it against other options in the market and the services that they provide. You may be paying a higher price for a product that doesn’t fully meet your requirements.


How Can Britech Help You?

Does your platform pass the inspection or are you finding yourself in the dark? Britech makes investment management simple and effective. With faster digital technology, we provide our clients with a winning SaaS solution at an affordable price. Wealth managers can rely on Britech to take care of their billing, investment data, CRM, and client portfolio needs under one platform.

We believe in making software easy to use that allows our users to benefit from a faster product and experience. This includes being user-friendly and reducing unnecessary complications. What’s even better is that our software solutions can be easily adapted to suit your operational needs. Let us handle the admin while you focus on growing your business’s success.


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