TradePMR Issues Warning to RIAs in New White Paper: Its Time to Understand Ownership of Client Data

TradePMR Issues Warning to RIAs in New White Paper: Its Time to Understand Ownership of Client Data

Written by Joel Bruckenstein, Technology Tools for Today, and John O’Connell, Oasis Group, the duo asks financial advisors one question – do you own your client data, or does your vendor?

TradePMR has issued a warning in a new white paper to Registered Investment Advisors (RIAs) – it’s time to understand who owns your client data or lose access to valuable data and potential firm valuation. The white paper titled “Understanding Data and How to Unlock its Value: Why RIAs Need Access to Their Data” discusses financial advisor data collection and management basics and how data analysis can influence RIA operations and client relationships, and ultimately firm valuations. The paper was written by industry veterans Joel Bruckenstein, president of Technology Tools for Today, and John O’Connell, founder of The Oasis Group

“Very few financial advisors effectively leverage their data or even know what data they have access to,” said Bruckenstein. “The biggest firms in the industry are using data to drive everything from operations to their approach to client relationships. RIAs looking to grow and compete with these firms need to figure out what data they own, how it is shared, and what insights it can drive for their businesses.” 

The white paper covers different kinds of data that RIAs may own and methods to store and analyze that data securely. The report also offers advice on how RIAs can determine what information they have access to from their third-party vendors. Alongside the white paper, TradePMR also issued a worksheet with questions advisors can bring to their third-party vendors to evaluate their data policies. 

“It seems as if RIAs rarely care about data – until they need it or until they need to move it,” said Robb Baldwin, Founder, and CEO of TradePMR. “RIAs either don’t know what data they have access to or are used to receiving data from their vendors in a confusing format that they don’t know how to analyze. At TradePMR, our position is simple – we want to provide advisors access to the data they want, in a format that is useful to their firm when they want it to gain immediate insights for their business.” 

The white paper reveals that not all vendors approach data the same way. Providers offer data in different formats with varying amounts of information. Determining the depth and breadth of data available from an RIA’s provider is essential in identifying how the firm can utilize that data. 

In addition to the white paper, Bruckenstein and O’Connell joined TradePMR for a webinar on data. The group addressed some of the main points from the white paper and provided vital takeaways that RIAs can implement into their business today. 

TradePMR will join Bruckenstein and O’Connell again at the T3 Technology Conference for a session at 2:35 pm CT on Thursday, May 5th. The group will be discussing the value of data in a down-market and ways that data-driven insights can support RIAs as they navigate periods of volatility. Advisors can register to attend the T3 Conference today. 

“Advisors attending the T3 Conference who are ready to unlock the power of data should attend our session on-site in Denton, Texas,” said John O’Connell. “Not only can data help your firm grow, but it can also be a key to weathering a down market and managing your client relationships through periods of volatility. Advisors may be surprised to hear how data could help ease their RIA’s operational burdens and set their firm up for long-term success.”

To download the free white paper, data worksheet, and on-demand webinar, visit

For more information on TradePMR, visit

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