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Laserfiche Touts Doc Management

RIAs stand to increase their profits 40 to 55 percent by investing in electronic document management technology, according to Laserfiche

LONG BEACH, Calif. -- Registered Investment Advisors (RIAs) stand to increase their profits 40 to 55 percent by investing in electronic document management technology, according to a study conducted for Laserfiche, an electronic document management solutions (edms) firm.

By increasing back-office efficiencies, streamlining regulatory compliance tasks and by reducing rent costs, RIA firms can also increase their business valuations, from $200,000 for an emerging firm to upwards of $3.4 million for enterprise sized firms, the study concluded.

“As many leading RIA firms are looking to enhance the value of their businesses, they are finding that increased profitability and an efficient infrastructure are directly correlated to business valuation drivers,” said Timothy Welsh CFP, president and founder of Nexus Strategy, a financial industry consulting and research firm that conducted the study with Laserfiche. “Through a focused effort in leveraging electronic document management technology, the next generation of RIAs are realizing increased business valuations from the inherent operational benefits of these innovative solutions.”

Laserfiche

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