Best Portfolio Management Software Choices for RIAs

Craig Pollack | Jan 23, 2015

Best-Portfolio-Management-Software-Choices-for-LA-Investment-AdvisorsPortfolio management is an LA investment advisor’s core business activity. So, you need a technology partner that will consistently deliver positive results. Whether you’re a single equity-based advisor or a large firm with multi-asset portfolios, this article provides an overview of the best portfolio management software currently available, all of which provide quick and easy access to the data needed to make informed decisions and deliver first-rate customer service.

Advent Axys/APX: Advent is the de facto standard in the industry when it comes to Portfolio Management Systems for Registered Investment Advisors. There are certainly pluses and minuses with this.  While they’re a known commodity and therefore a proven entity, they also are known for being the “gold standard” (ie: a little pricey). 


  • Advanced performance measurement
  • Multi-asset class and multi-currency accounting capabilities
  • Audit trail and security for compliance
  • Adaptability to changing regulatory requirements worldwide
  • Comprehensive, customizable client reporting
  • Integration with client relationship data

Schwab PortfolioCenter: There’s a reason why more than 3,600 advisory firms nationwide rely on Schwab’s proven technology, deep expertise, and dedicated service to help power their businesses. For nearly 30 years, SPT has developed and delivered innovative technology solutions, inspired by working closely with - and listening to - financial advisors and investment managers. PortfolioCenter comes in both hosted and on premise versions so you can decide which gives you the biggest comfort level of where your data resides.


  • A combined view of your clients’ investment accounts no matter where they’re held
  • Efficient data management with user-friendly tools
  • An easy interface that allows you to make timely decisions with the right information
  • Customized client billing and reporting that’s visually pleasing and full of information
  • Enhanced security features to help you control and monitor user access to your firm’s data
  • Industry-leading support and service dedicated to helping you get the most out of your technology 

Advisor Xi by Tamarac: Advisor Xi is a web-based platform designed to address the needs of independent registered investment advisors (RIA). Advisor Xi deeply assimilates leading portfolio management, billing, rebalancing, performance reporting, and trading software with an online client portal and an enterprise-level CRM.

While components of Advisor Xi can be purchased separately, the complete solution will provide gains in efficiency, client satisfaction, overall profitability, and compliance. Advisor View is a portfolio management and performance reporting application offering portfolio analysis, personal dashboards, customized PDF reports, and billing capabilities. The client portal provides clients with a platform for secure document exchange and online communications.


  • Individualized performance reports
  • Clear and timely communications
  • Customizable branding of the client portal
  • Powerful composite reporting
  • Chart risk-adjusted comparisons to benchmarks and indexes
  • Monitor alternative investments
  • Automate complex billing scenarios 

Bottom Line

LA investment advisors need to reduce operational risk while generating new growth opportunities in a timely manner. To accomplish this, they require a foundational technology system to build their business upon capable of supporting multiple asset classes, investment strategies, and management tasks.

While a firm’s strengths are usually based on its individual and unique approach to investing, to be successful operationally it needs a platform to manage and grow its assets under management.  The properly selected Portfolio Management System will strengthen the firm’s competitive advantage and free the advisor to focus on what’s important: servicing and generating wealth for their clients.


Has your technology partner introduced you to the best portfolio management software? Have they made a positive contribution to your firm’s efficiency and effectiveness? Let us know your thoughts in the Comments box below.


And to follow-through on the tips introduced in this short article, be sure to download your free guide, Investing in High Net Worth Clients: The LA Investment Advisor's Guide to Using Technology to Manage and Grow Your Firm.


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Craig Pollack

Craig Pollack

Craig is the Founder & CEO of FPA Technology Services, Inc. Craig provides the strategy and direction for FPA, ensuring its clients, business owners, and key decision makers leverage technology as efficiently and effectively as possible. With over 25 years of experience building the preeminent IT Service Provider in the Southern California area, Craig is one of the area’s leading authorities on how small to mid-sized businesses can best secure and leverage their technology to achieve their business objectives.