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How to Evaluate the Need for New Software at your RIA

Take the Free Self-Assessment Survey

In my last blog post, I talked about how to determine whether your RIA’s next technology project should be mission critical or a quick win. Hopefully by now, you’ve decided which type of project your firm needs – and with that, which type of software project to take on next.

But before you start comparing one software to another, or signing up for demos, you need to really understand what you’re trying to accomplish with this new technology. To do that, I recommend conducting a self-assessment, or a sniff test, to properly identify the reasons behind your decision and your likelihood of moving forward.

An assessment like this is actually quick and painless. All you need to do is answer a few important questions, and I’ve created a helpful survey to walk you through it.

Download Survey

The Benefits of using a Self-Assessment Survey

There are several reason why using a self-assessment survey can benefit your firm and its journey to selecting new software:

  1. It will keep you on track during the demo process so you can focus on what matters most to your firm, instead of getting distracted by cool features and widgets.
  2. It gets your team on the same page about the goals and intentions of searching for a new technology. Being honest upfront about priorities, or the likelihood of moving forward, will unify your team while preventing unnecessary disappointment.
  3. When you share the self-assesment with a potential solution provider, it gives that person a better understanding of your needs so they can tailor a demo to your RIA – making it less likely that they will waste your time.
  4. When it comes time to make a final decision or present your findings to a decision-maker, it provides a great tool for setting a benchmark of where you are as a firm and painting a picture of where you could be in the future with this new technology. This is critical to making a decision to move forward or not.


Watch the Recorded Webinar

Did you know we have an entire 30-minute webinar dedicated to this subject? You can watch it for free!

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Jo Day

Jo Day

Jo loves learning about interesting problems and how people are solving them. Jo is well known for connecting people and ideas and is a great catalyst (moo!) to change. Where some people see the world through rose colored glasses, Jo sees the world through processes. When Jo isn't hanging out with her family, Jo's favorite hobbies are being anywhere outdoors and coming up with new business ideas – just for fun!