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2013's Best Tech for Advisors

Advisor technology columnist Bill Winterberg's Best Tech for Advisors award winners simplify client deposits, streamline client risk assessment, and push the envelope on custody technology.

Bill Winterberg, 12/12/2013

Regular readers of MorningstarAdvisor.com eagerly await the arrival of this column's December update, as I survey the past 12 months of technology developments and make my selections for the year's Best Tech for Advisors.

This is my fourth year positioned in the hot seat of a high-stakes evaluation process that can literally make or break the future of an advisor technology provider!

Or so I would like to believe.

My choices for the 2013 Best Tech for Advisors winners are separated into the following categories:

--Best Back-Office Technology
--Best Client-Facing Technology
--Innovation of the Year

Each category objective is identified along with highlights of how each award winner enhances a financial-services firm through the use of innovative technology.

As is customary with my award column, please take a moment to review the disclaimer: These are my awards. Morningstar has no involvement in the selection process, so please direct all comments and suggestions directly to me. No endorsement of any third-party products or services is expressed or implied by any information, material, or content referred to in this article. Winners do not receive actual awards other than the right to declare their product or service as an award winner until next year's list is announced.

What Happened in 2013?
Before I begin, allow me a moment to reflect on the developments over the last year. Truthfully, 2013 has been a rather tepid year in technology advancement for financial advisors. A significant portion of the news and announcements this year represented incremental updates or a "point release" (as in v1.1) to existing technology.

Bill Winterberg, CFP, is a technology and operations consultant to independent financial advisors. His comments on technology have been featured in a variety of financial industry publications. You can view more information about Bill and see his schedule of upcoming speaking engagements at his Web site, FPPad.com. The author is a freelance contributor to MorningstarAdvisor.com. The views expressed in this article may or may not reflect the views of Morningstar.

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