Avoid Legacy Portfolio Software Constraints

Written by Bill Winterberg, Morningstar Advisor Friday, 17 August 2012

Established investment advisory businesses manage numerous active client relationships, many of which span multiple decades. As client engagements endure, advisors generate large databases with respect to historical investment activity performed in client accounts. At the same time, innovations by portfolio management software vendors have many advisors contemplating a switch from their current system to capitalize on new features and functionality.

With so much legacy data maintained in their existing systems, advisors are concerned that converting their database can turn into a costly, time-consuming, and error-prone process. Today, a growing number of service providers specialize in portfolio accounting database conversions, giving advisors the freedom and flexibility to switch to the accounting system that best meets the needs of both the firm and its clients. Read More..