Registered Investment Advisers

Goals

Determine information on the software providers, regulations, market figures on the financial advising space.

Early Findings

Financial Advisor's Software

MoneyGuide Pro
Based on a survey, Envestnet's MoneyGuidePro emerged as the most preferred software by financial advisers with a share of 36.10%.
https://www.moneyguidepro.com/ifa/
The software features enticing graphics and a user-friendly interface.
https://www.envestnet.com/report/2018/download/Envestnet-2018-Annual-Report-Full.pdf
Envestnet has a revenue of $812 million.
eMoney Advisor
The eMoney Advisor software is being used by 29.02% of the respondents.
https://www.emoneyadvisor.com/
The software features a fully-loaded cash flow analysis module.
The software also got the highest average survey rating of 8.0 as compared to other financial adviser tools.
https://www.zoominfo.com/c/Emoney-advisor-llc/30281279
Emoney has an estimated revenue of $114.8 million.
RightCapital
RightCapital obtained a 9.97% share from the survey respondents.
It also got one of the highest rating at 7.97.
https://www.rightcapital.com/
RightCapital is considered as having the right balance of features.
https://www.zoominfo.com/c/rightcapital/440787914
The company has an estimated revenue of $19.2 million.
Money Tree
MoneyTree got a 7.27% share from the survey's respondents.
https://www.moneytree.com/
The software is considered as well-known among more established financial firms.
The software provides flexible financial process features.
https://www.zoominfo.com/directory/company/moneytree/14583?utm_source=discoverorg
MoneyTree has an estimated revenue of $412.4 million.

Advicent (NaviPlan)
Advicent (NaviPlan)'s software is preferred by 5% of the respondents.
The platform features various options to meet the requirements of financial advisors.
https://www.advicentsolutions.com/
https://www.zoominfo.com/c/Advicent-solutions-lp/358259385
The company has an estimated revenue of $52.5 million.
https://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm
There are 271,700 financial advisors in the United States who may be current or potential customers of financial software offerings.
Market Outlook

There are 271,700 financial advisors in the United States who may be current or potential customers of financial software offerings.
https://www.ibisworld.com/united-states/market-research-reports/financial-planning-advice-industry/
There are around 108,255 business in this industry.
In the US, the financial planning industry is worth around $57 billion in 2019.
The market growth rate from 2014 to 2019 is 3.6%.
The growth in this market is propelled by high-income earners that need financial advice.

Regulatory Changes

  • Financial services providers are now subject to a more fragmented regulatory environment as more government and private financial entities get involved.
  • Financial services providers also need to improve their risk governance and management practices to comply with regulations more.
  • They also need to focus more on data privacy as more cases of breaches occur in the industry.

Younger Generation's Approach to Financial Advisers

Currently, millenials are not keen to avail of the services of financial advisors as they typically do not see the value of doing this.
They typically go for self-directed brokerage platforms.

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