How Software Can Help You Grow: Part 1

Mar 2nd 2017 - by Emmett Agnew

Practice Management

"Software is eating the world." So states the headline of a famous Wall Street Journal article penned in 2011 by Marc Andreessen, former co-founder of Netscape and influential venture capitalist 1. The power of software to transform and disrupt entire industries is even more apparent today, six years later. Just look at what Uber has done to the transportation industry, or what AirBnB has done to the hospitality industry.

Niche Markets

Even relatively niche industries like investment advisors are not immune from the world-eating power of software. Much angst has been expressed about the rise of “robo advisors,” for example, and their potential to disrupt the traditional registered investment advisor (RIA) business model. And perhaps two of the more persistent concerns revolve around the still-widespread use of antiquated, inefficient software systems, as well as the threat of cyber-attacks and the security of client information.

Software: Danger or Opportunity?

While it may be tempting for an RIA firm to look at the current landscape and see only doom and gloom when it comes to the disruptive force of software, there is a case to be made for optimism. Software, instead of a threat, could be viewed as an opportunity. An opportunity to improve the way your business functions, to improve the security of your clients’ information, and to put your firm ahead of your competitors. As a team of former investment research practitioners, and through frequent conversations with a wide range of RIAs, we at RedQuarry have a deep understanding of both the concerns and fears out there among investment advisors, and the potential benefits of adopting a modern software system to improve investment research efficiency and effectiveness. And we remain convinced, more than ever, that software should be viewed as an opportunity to improve the way your business operates.

Scale and Growth

A common story we see with RIAs is that as a firm grows from a handful of people into a larger organization with different areas of specialization (operations, client service, investment research, etc.), it becomes much more difficult for the investment team to conduct their research methodically and share the results with the entire firm. When an RIA firm starts out, the entirety of the investment research process is usually located in the head of the chief investment officer, a situation that can break down quickly when growing pains arise. There has to be a better way. And thankfully there is, with a modern research management system like RedQuarry.

Research Management Software

We created RedQuarry because we experienced the frustrations of inefficiency and disorder first hand. As practitioners, we knew there had to be a better way. After looking around and not finding anything that was truly collaborative, scalable, and affordable we built our own and made it available to everyone. Check out our website to learn how we automated due diligence workflow, integrated with email, and created the most engaging research platform in the world.

Next article: Part 2

How Software Can Help You Grow: Part 2


Article Sources

[1] Wall Street Journal


RedQuarry's cutting edge research management software is used by leading investment firms around the world to manage their investment process, due diligence files, documents, reporting, and research compliance. Contact us for a demo