Fidelity Institutional Wealth Services announced Thursday it had released a new tool to help advisors evaluate and compare available technology solutions.
The new Technology Investment Evaluator, part of the firm’s Practice Management and Consulting Program, “helps Fidelity’s team of technology and operations consultants work closely with their advisor clients to identify and evaluate potential workflow efficiencies and the economic impact of technology investments for their advisor clients,” according to the company.
“The new tool is something we’ve always included in our Practice Management and Consulting program, it’s just that it’s now been formalized,” says David Canter, executive vice president and head of practice management and consulting at Fidelity Institutional Wealth Services. “On almost a weekly basis, we get questions from advisors about how to quantify the costs they’re about to incur with a new technology purchase. This was the impetus for the new release.”
Canter says the Technology Investment Evaluator is vendor agnostic and addresses three key issues: scale, a re-allocation of resources and the consultative process.