What Is The Best Wealth Management Software And Why?

(Question originally posted on Quora and  Answered by Maurice Berdugo – CEO BP Analytics)

This really depends on what you are trying to accomplish. If it’s a simple rebalancing software or expense management tool the market has many tools out there. Just Google it. One that I like is (Yes I am biased because we programmed it). Many custodians are offering wealth management software tools as if this is the case then there is no reason to even spend $1.

However, these applications are built upon their interpretations, their formulas and what they perceive as the most optimal way to manage money. If your train of thought is the same- then I would use their tools. If however, you have a unique approach or a unique set of formulas than I highly suggest building your own application. It will incorporate your IP, your management style, your preferred investment strategy etc… Build these tools isn’t cheap, but, if it can help save the cost of one employee doing manual work you have already achieved an ROI.


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