Broker neutral Advisor platforms 2019
Im looking for a broker neutral Advisor platform that includes the basics: client reporting, client portfolios, and any bells and whistles are a bonus (maybe CRM, portfolio analysis, rebalancing?).
I want a consistent platform that I can keep if I switch brokers because I plan to do so. Thanks
Who do you clear though, or plan on clearing through? I’ve been researching this for past 90 days as we can clear through TD, Fidelity, Schwab or Persing now, so looking for a unified platform as ew have accounts at each. Here’s what I found.
Oranj - free or $400 month for your own model
Black Diamond - $60 per account, not sure of minimum, didn’t like interface so moved on.
Orion - has everything but CRM. $75 per account, $17.5K minimum.
AdvisorEngine - 5k setup + 6bps on assets, 12k annual minimum
Tamarac - too $$ for us but beautiful. Would be about 30k for 300 accounts.
There’s a new one out now called Altruist, https://altruist.com, but I think they’d prefer if you’d use there clearing firm.
Your new b/d may have enterprise contracts in place. Ours has Orion for $40 per account with no minimum or contract.