Trivia Question❓

What 1950s term for centralized computing systems mirrors today’s all-in-one business platforms?ng up a shrinking percentage of the population?

Answer at the bottom of the newsletter

Build or Buy? The Tech Decision That Shapes Your Entire Firm

Every growing RIA eventually faces a critical decision: should you build your own custom tech stack or invest in an all-in-one platform? It’s not just a question of software—it’s a question of strategy. The choice you make will shape your workflows, your client experience, and even your firm’s scalability. And while there’s no one-size-fits-all answer, understanding the trade-offs is essential for making a smart, future-proof decision.

Let’s start with custom solutions. Building your own tech stack allows you to choose best-in-class tools for each function—your preferred CRM, portfolio management software, financial planning platform, document storage, and marketing system. You gain flexibility, control, and the ability to tailor your workflows around how you operate. But with that power comes complexity. Integrating multiple systems can be time-consuming and costly. APIs don’t always play nicely. And as your firm grows, maintaining and troubleshooting a custom-built ecosystem can drain internal resources.

On the other hand, all-in-one platforms—like Orion, Advyzon, Envestnet | Tamarac, or Practifi—offer a streamlined, centralized approach. Everything lives under one roof: client data, performance reporting, planning tools, and sometimes even compliance features. These platforms are built for scale, often come with dedicated support, and allow for faster onboarding of new team members. The trade-off? You may have to sacrifice a bit of customization and accept the limitations of a single vendor’s roadmap.

So how do you decide?

Start with your firm’s growth goals and client experience vision. If you’re focused on delivering a high-touch, differentiated experience and have internal tech expertise, a custom stack might give you the edge. But if you’re scaling fast, building a team, or want to reduce friction and vendor management, a modern all-in-one can save time, reduce risk, and increase operational consistency.

Don’t just evaluate features—evaluate fit. Consider ease of use, integration capabilities, vendor stability, and how the platform aligns with your long-term goals. Talk to other advisors. Ask about hidden costs and implementation timelines. Most importantly, don’t get stuck trying to make perfect decisions—get moving with the right ones for where you are now.

Because whether you build or buy, your tech should enable your growth—not slow it down.

Your Advisor's Edge Team

💡 Answer to Trivia Question:

Mainframe. It described large, centralized computers that handled all tasks under one system—much like modern integrated platforms.

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