Brooke’s Note: The cloud does not seem like an exclusive club to me. But at least a couple of top RIA technology experts say that not all clouds are created equal and that Fidelity may be on to something with its latest effort to create a plug-and-play home for financial advisors. Needless to say, not everyone agrees.
Fidelity has announced it will begin offering a third-party cloud-based virtual desktop to its advisors. It’s a move some are hailing as an industry first in terms of total integration of an advisor’s office needs.
“They’re first to market with something like this,” says Joel Bruckenstein, publisher of Technology Tools for Today, who argues that the ability to access all small-business and back-office software, as well as industry-specific software like CRM and portfolio reporting, on any mobile device with just one click is a game-changer.
But, the other major custodians — including Pershing Advisor Solutions and TD Ameritrade — are a bit annoyed with all the hype. Fidelity isn’t offering anything new, they say. In fact, many advisors can — and do — already contract directly to store their business needs on ...