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Avoid These 5 Mistakes: The Professional’s Guide to Building a Scalable RIA Firm
Panoramix™ Industry Content Series
Welcome to the fourth in a series of industry content from Panoramix designed to help advisors succeed in a more challenging operating environment.
Unfortunately, setting up a new RIA firm has many pitfalls and traps that advisors can fall into as this is a new area where they may not have all of the information they should and it truly has been a DIY (do it yourself) endeavor.
To help advisors in their RIA set ups, we have identified the top 5 areas that advisors need to make savvy, smart decisions to avoid making mistakes and costing themselves time and money.
When setting up a new RIA business, there are a lot of decisions to make and it can be overwhelming. Sometimes you might not know the ramifications of some of those decisions until months later. As technologists and RIA business analysts, we have worked with a lot of advisors just starting out or breaking away, and we have compiled a list of the top 5 things that advisors must manage when starting out.
Sapphire Software Services inc., a custom software and business-to-business automation company founded in 2003, developed Panoramix® for financial advisors in 2013 and completes 16 planned releases per year to the product. Sapphire brings business applications to the web, provides consulting services with the best vendors and partnerships, and offers professional development capabilities to automate business processes. Sapphire specializes in business application software development for companies in the financial services sector. Panoramix, its award-winning flagship software tool for portfolio management for financial advisors, focuses on providing multi-custodial performance reporting and client billing, with a wide-ranging additional feature set. Sapphire markets under the name Panoramix Financial. For more information on Panoramix connect with us at www.panoramixfinancial.com.
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