In this episode of RIA Tech Talk, we tackle a question that’s been popping up more and more: Can an RIA run successfully on Macs? While many RIAs default to Windows for compatibility with financial software, there’s a growing interest in using Macs for their security features, user-friendly experience, and overall longevity.

Here are the highlights of this podcast episode:

Common concerns include compatibility with financial software and misconceptions about Macs’ security and functionality.

For many RIAs, web-based tools like Google Workspace and Microsoft 365 work smoothly on Macs. With cloud solutions, critical applications like CRM and portfolio management run seamlessly, especially when using advanced tech that lets apps appear as native icons on Macs.

For older or server-bound software (e.g., customized QuickBooks Enterprise), special setups like cloud servers with remote apps are required to make them accessible on Macs.

Many RIAs use a combination of Macs and Windows computers without compatibility issues, especially with cloud-based applications.

Macs have built-in security features, including encryption and malware resistance. Many RIAs take additional steps like implementing Defender for Endpoint for added protection.

Macs are valued for their intuitive interface and smooth user experience, which can reduce stress and boost productivity. Although Macs may have a higher initial cost, their durability can mean a lower total cost over time.

It’s important to work with an IT provider experienced with Macs, as many IT providers are still primarily focused on Windows.

Some firms use Macs for front-office tasks and Windows for back-office needs, allowing flexibility without compromising performance. Macs integrate well with iPhones and iPads, enabling seamless access to RIA tools and files across devices.

In this episode, Todd Darroca and David Kakish explore the often-overlooked financial benefits of owning your IT hardware. Understanding the difference between owning and renting IT hardware can significantly impact your bottom line.

Join us as we break down the pros and cons, help you avoid common pitfalls, and provide you with actionable insights on why owning your IT hardware could be the smartest move for your RIA.

In this episode, we explore:

What is it, and why some IT providers promote it?

Understand how much more you might be paying when you rent your IT equipment, the potential pitfalls of being locked into contracts, and the limitations on flexibility when you don't own your hardware.

Learn about the flexibility, customization options, and long-term savings that come with owning your equipment.

In this episode of RIA Tech Talk, David and Todd are again joined by Christopher Johnson of TrigaByte Technologies, to discuss the ideal technology stack for new RIA firms with a small team.

Christopher Johnson: Founder of Byte Technologies with over 30 years of experience in financial services, specializing in operations, technology, and compliance. He offers unique expertise in helping RIAs optimize their technology choices and implementation.

· Microsoft 365 is recommended for new RIAs due to its comprehensive suite of integrated tools that support IT compliance and security without needing multiple third-party tools.

· Google Workspace requires additional third-party tools for compliance and security, which can complicate setup and increase costs.

· Redtail: Highly popular among new RIAs due to its ease of use and extensive integrations. Ideal for firms that prioritize simplicity and functionality.

· Wealthbox: A close competitor to Redtail, offering a user-friendly interface and good integration capabilities.

Christopher joined us in a previous podcast episode: What’s The Best CRM For Your RIA And Why [CT1] which you may also want to check out.

· Best in Class: Black Diamond is a top choice for firms looking for comprehensive portfolio management and performance reporting.

· All-in-One Solution: Orion offers an integrated suite of services, making it ideal for firms looking for simplicity and ease of use.

· eMoney and MoneyGuide Pro are the dominant choices for financial planning, known for their robust features and ease of integration with other platforms.

· Charles Schwab is highly recommended for new RIAs due to its supportive onboarding process and comprehensive services tailored to RIA needs.

· Microsoft offers built-in archiving capabilities for emails and Teams, providing a cost-effective solution that meets SEC and FINRA compliance requirements.

· MessageWatcher is a budget-friendly option for archiving social media and text communications.

· A robust compliance tool is crucial for monitoring employee activities and ensuring regulatory adherence. AdvisorAssist and Smartria are popular choices.

· RIA Workspace is recommended for its specialization in providing IT services tailored to RIAs, offering better understanding and support than general IT providers.

Starting a new RIA firm requires careful consideration of the right technology stack to ensure efficiency, compliance, and security. By selecting the appropriate tools and platforms, new RIAs can build a strong foundation for growth and success.

Christopher Johnson, TrigaByte Technologies

Phone: 612-817-7767

Email: chris@trigabytetech.com

[CT1]

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