The Key Takeaways from the T3/Inside Information Technology Survey

What software programs are advisory firms using, and what is the market share of each program in each category?

What is the average user rating (scale of 1-10) of each program in each category?

Which programs are gaining or losing market share, and which are gaining or falling behind in their user ratings?

What programs are advisors thinking about switching to?

What types of firms (based on size, years of experience and business model) are most likely to be using these various programs?

Advisors who are serious about their tech stack should know that the resource that answers all of those intriguing questions is out and available free of charge – 50 pages containing more than 85 tables and charts, providing market share and user ratings for over 500 software programs in 23 categories, including rankings on custodial and broker-dealer platforms.

Curious about which financial planning software programs are most popular, which are rising in popularity, and how satisfied users are of each of the 18 most popular planning programs?

Do you wonder which of the 23 portfolio management programs are most popular and most highly-rated by users?

Are you interested in the college planning, Social Security analysis or document management tools in today’s marketplace? It’s all there, and a lot more.

In all, the 2020 T3/Inside Information Software survey includes responses from 5,175 members of the advisor marketplace – making it by far the largest sample size of any tech survey in our space. And the demographics reflect the marketplace at large, evenly split between dually-registered and fee-only advisors, with nearly half of the respondents having more than 20 years of experience. The firm size breakdown was similarly dispersed, with about 55% of the participants coming from firms with less than $1 million in annual revenues, while at the other end of the spectrum, 9% represented firms with more than $8 million coming in the door.

As co-author of the T3/Inside Information software survey (with T3’s Joel Bruckenstein), I’d like to offer some of the most powerful takeaways from the survey as a whole: