Embracing the Cloud
Read the entire MorningstarAdvisor article by Bill Winterberg
More advisors are ditching their servers in favor of the cloud, minimizing IT costs and freeing up more time for client service.
Bill Winterberg, 02/09/2012
The average financial advisor's office contains a hodgepodge of hardware infrastructure to support a wide array of ordinary business activities. It's not uncommon to find a combination of servers, varying in age and performance, responsible for all of the firm's e-mail traffic, database access, and file storage. Then there are a variety of peripherals connected to the servers, like external tape or USB backup devices and network firewall systems, all adding to the complexity of maintaining a reliable and functional environment.
Most advisors acknowledge they are not experts in managing their information technology, so they either hire dedicated employees for day-to-day administration or contract IT management and support to an outside service provider. However, finding IT professionals with practical knowledge of the financial services industry--and its obligatory regulatory requirements--is an undertaking with long odds.
Read the entire MorningstarAdvisor article by Bill Winterberg