What is portfolio management software in the context of a Registered Investment Advisor (“RIA”)?

Definition: A portfolio management tool is software that encompasses technology to manage client portfolios (rebalancing, creating/managing investment models, etc.), but also typically includes tools for client fee billing, client portal, performance reporting, etc.

When used in an RIA context: “One of the main pieces of an RIA’s tech stack is a portfolio management tool.”

See also: Episode 136, Episode 59, Fee Billing, Vendors (Portfolio Management Tech)