Why Advisors Are Investing in the Back Office, Efficiency and Workflows


Recorded at the Envestnet Advisors Summit 2022.  Presented by:

Advisorpedia Interviewed Ryan George, the Chief Marketing Officer at Docupace Technologies, at the Envestnet Advisor Summit in May, 2022.

Resources: Docupace Technologies

Related: Personal Outcomes Through Asset/Liability Wealth Management


For the longest time, people have been investing in front office technologies and client focused technologies to really put those sunny objects in front of a client. Well, now, we think people are investing in the back office and efficiency and workflows, and making sure that the collaborative work that goes on to make financial planning, more x more expendable, is happening right now. . .

So people are taking investment, if you put $1 in a, in a new widget or a new tool, you're probably not gonna get the same ROI that you would get it being able to improve workflow, improved automation, improved efficiency in the operational side of the business, the all in one solution is a myth, we don't think we can get there. And if you have too many points solutions, you're just too many technologies, too many vendors, too much stuff to manage.

So documentation is looking to be the most in one solution where we can offer key pieces of an overall operation, but more importantly, connects to the other technologies in an efficient way that you can have a seamless experience throughout the technologies regardless of what technology you're using. The adviser or the client, or the home office personnel can all have that streamlined experience. I think for the longest time technologies wanted to have it where they had silos and they could sort of only advisor and keep them there. We look very differently.

Docupace, we don't care for the back of the house technology or even a white little technology or an advisor even knows where you are using technology. We just want it to work. We just want to make a better experience for the user and make the workflows and the integrations deeper and more connected so that the business can be processed faster and more accurately.