RIA Roadmap © 2020 Envestnet, Inc. For investment professional use only.
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1. Develop a formal digital
strategy
New research shows that many initial RIA attempts at digitalization New research shows that many initial RIA attempts at digitalization
were partial implementations or disjointed efforts. RIAs employing were partial implementations or disjointed efforts. RIAs employing
best practices build a digitalization strategy using a deliberate and best practices build a digitalization strategy using a deliberate and
formal process that encompasses the entire business. formal process that encompasses the entire business.
ACT NOW:
• • Establish a timeline, identify tasks, and allocate resources. Establish a timeline, identify tasks, and allocate resources.
• • Devote time to the process and work with key members Devote time to the process and work with key members
within your practice to formalize the strategy. within your practice to formalize the strategy.
• • Prioritize and implement your strategies in stages by Prioritize and implement your strategies in stages by
addressing capabilities you can implement now and over the addressing capabilities you can implement now and over the
longer term. longer term.
