Quick Overview
- 1#1: Orion Advisor Technology - Comprehensive wealth platform providing portfolio accounting, trading, reporting, billing, and client portals for financial advisors.
- 2#2: Envestnet Tamarac - Integrated solution for portfolio management, rebalancing, reporting, and billing tailored to RIAs and advisors.
- 3#3: SS&C Black Diamond - Scalable wealth management platform with advanced portfolio accounting, performance reporting, and CRM capabilities.
- 4#4: Addepar - Data aggregation, analytics, and reporting platform for multi-asset class portfolios and complex investor needs.
- 5#5: Morningstar Advisor Workstation - Investment research, portfolio analysis, and asset allocation tool with direct indexing capabilities for advisors.
- 6#6: Altruist - Custody and technology platform offering low-cost trading, portfolio management, and financial planning for independent RIAs.
- 7#7: Wealthbox - Modern CRM designed specifically for financial advisors with task management, client communication, and integrations.
- 8#8: Redtail CRM - Robust CRM platform for financial professionals featuring workflow automation, document management, and compliance tools.
- 9#9: RightCapital - Cloud-based financial planning software with scenario modeling, retirement projections, and client collaboration features.
- 10#10: eMoney Advisor - Goal-based financial planning and client portal platform that integrates with portfolio data for holistic advice.
These platforms were selected based on feature quality, user experience, performance reliability, and overall value, ensuring they stand out as leaders in their respective categories.
Comparison Table
This comparison table examines top wealth management tools such as Orion Advisor Technology, Envestnet Tamarac, SS&C Black Diamond, Addepar, Morningstar Advisor Workstation, and others, providing a clear overview of their key features. By analyzing capabilities, integration strengths, and user experience, readers can gain actionable insights to choose the tool that best aligns with their professional needs.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Orion Advisor Technology Comprehensive wealth platform providing portfolio accounting, trading, reporting, billing, and client portals for financial advisors. | enterprise | 9.6/10 | 9.8/10 | 8.7/10 | 9.2/10 |
| 2 | Envestnet Tamarac Integrated solution for portfolio management, rebalancing, reporting, and billing tailored to RIAs and advisors. | enterprise | 9.1/10 | 9.6/10 | 7.9/10 | 8.7/10 |
| 3 | SS&C Black Diamond Scalable wealth management platform with advanced portfolio accounting, performance reporting, and CRM capabilities. | enterprise | 8.7/10 | 9.2/10 | 7.8/10 | 8.1/10 |
| 4 | Addepar Data aggregation, analytics, and reporting platform for multi-asset class portfolios and complex investor needs. | enterprise | 8.7/10 | 9.3/10 | 7.4/10 | 8.1/10 |
| 5 | Morningstar Advisor Workstation Investment research, portfolio analysis, and asset allocation tool with direct indexing capabilities for advisors. | specialized | 8.5/10 | 9.2/10 | 7.4/10 | 7.8/10 |
| 6 | Altruist Custody and technology platform offering low-cost trading, portfolio management, and financial planning for independent RIAs. | enterprise | 8.4/10 | 9.1/10 | 8.2/10 | 9.3/10 |
| 7 | Wealthbox Modern CRM designed specifically for financial advisors with task management, client communication, and integrations. | specialized | 8.7/10 | 8.5/10 | 9.2/10 | 8.0/10 |
| 8 | Redtail CRM Robust CRM platform for financial professionals featuring workflow automation, document management, and compliance tools. | specialized | 8.3/10 | 8.5/10 | 8.7/10 | 8.0/10 |
| 9 | RightCapital Cloud-based financial planning software with scenario modeling, retirement projections, and client collaboration features. | specialized | 8.7/10 | 8.8/10 | 9.2/10 | 8.4/10 |
| 10 | eMoney Advisor Goal-based financial planning and client portal platform that integrates with portfolio data for holistic advice. | enterprise | 8.3/10 | 9.2/10 | 7.4/10 | 7.9/10 |
Comprehensive wealth platform providing portfolio accounting, trading, reporting, billing, and client portals for financial advisors.
Integrated solution for portfolio management, rebalancing, reporting, and billing tailored to RIAs and advisors.
Scalable wealth management platform with advanced portfolio accounting, performance reporting, and CRM capabilities.
Data aggregation, analytics, and reporting platform for multi-asset class portfolios and complex investor needs.
Investment research, portfolio analysis, and asset allocation tool with direct indexing capabilities for advisors.
Custody and technology platform offering low-cost trading, portfolio management, and financial planning for independent RIAs.
Modern CRM designed specifically for financial advisors with task management, client communication, and integrations.
Robust CRM platform for financial professionals featuring workflow automation, document management, and compliance tools.
Cloud-based financial planning software with scenario modeling, retirement projections, and client collaboration features.
Goal-based financial planning and client portal platform that integrates with portfolio data for holistic advice.
Orion Advisor Technology
enterpriseComprehensive wealth platform providing portfolio accounting, trading, reporting, billing, and client portals for financial advisors.
Universal Account View for seamless multi-custodian data aggregation and householding across all client assets in real-time.
Orion Advisor Technology is a comprehensive wealth management platform that provides financial advisors with integrated portfolio management, performance reporting, trading, rebalancing, billing, and CRM tools. It excels in aggregating data from multiple custodians into a unified household view, enabling advisors to deliver sophisticated client reporting and analytics. Designed for registered investment advisors (RIAs), it supports scalability from small firms to enterprise-level operations with robust security and compliance features.
Pros
- Extensive feature set including real-time portfolio accounting and advanced reporting
- Seamless integrations with custodians like Schwab, Fidelity, and Pershing
- Scalable for high AUM firms with excellent mobile and client portal access
Cons
- Steep learning curve for new users due to depth of functionality
- Pricing can be high for smaller advisory firms
- Some advanced customizations require professional services
Best For
Enterprise RIAs and large advisory firms managing substantial assets who need a full-suite, scalable advisor technology platform.
Pricing
Custom asset-based pricing (typically 3-10 bps on AUM) plus per-user fees; starts around $5,000/month for mid-sized firms—contact for quote.
Envestnet Tamarac
enterpriseIntegrated solution for portfolio management, rebalancing, reporting, and billing tailored to RIAs and advisors.
Unified household reporting that aggregates data from multiple custodians into fully customizable, branded client statements
Envestnet Tamarac is a robust portfolio management platform designed for registered investment advisors (RIAs) and wealth managers, offering integrated tools for trading, rebalancing, billing, performance reporting, and client portals. It provides seamless integrations with major custodians like Schwab, Fidelity, and Pershing, enabling unified account aggregation and customizable reporting. The platform supports enterprise-scale operations with advanced analytics and compliance features, making it a go-to solution for sophisticated advisory firms.
Pros
- Highly customizable reporting with household-level aggregation and performance attribution
- Automated rebalancing and trade management across multiple custodians
- Strong compliance and billing tools tailored for RIAs
Cons
- Steep learning curve and complex interface for new users
- Premium pricing that may not suit smaller firms
- Limited mobile accessibility compared to newer competitors
Best For
Mid-to-large RIAs and enterprise advisory firms needing comprehensive portfolio management and reporting integration.
Pricing
Custom enterprise pricing, typically starting at $25,000+ annually based on assets under management (AUM), with tiered subscriptions.
SS&C Black Diamond
enterpriseScalable wealth management platform with advanced portfolio accounting, performance reporting, and CRM capabilities.
Advanced householding and multi-account aggregation for unified family office views
SS&C Black Diamond is a comprehensive cloud-based portfolio management platform tailored for wealth advisors, RIAs, and family offices. It provides real-time performance reporting, account aggregation, billing automation, and client relationship management tools. The software excels in delivering customizable dashboards and advanced analytics to support complex portfolio oversight and client engagement.
Pros
- Robust performance reporting and analytics
- Strong integrations with custodians and CRM systems
- Scalable for enterprise-level wealth management
Cons
- Steep learning curve for new users
- High implementation and ongoing costs
- Limited customization in some reporting templates
Best For
Mid-to-large advisory firms managing high-net-worth clients with complex, multi-account portfolios.
Pricing
Custom pricing based on AUM or user seats; typically $50,000+ annually for mid-sized firms, with setup fees.
Addepar
enterpriseData aggregation, analytics, and reporting platform for multi-asset class portfolios and complex investor needs.
Patented DataGraph engine providing a unified, reconciled view of all holdings from thousands of sources with 99%+ accuracy
Addepar is a robust wealth management platform that aggregates and reconciles data from over 20,000 sources to deliver unified portfolio views, performance reporting, and analytics for advisors. It specializes in handling complex portfolios, including alternatives, privates, and real assets, with institutional-grade accuracy. The platform enables customizable client reporting, risk analysis, and scenario modeling to support data-driven decision-making.
Pros
- Exceptional data aggregation and reconciliation across diverse asset classes
- Advanced analytics including risk, performance attribution, and scenario modeling
- Highly customizable reporting and client portal for professional presentations
Cons
- Steep learning curve and complex setup for new users
- Premium pricing that may not suit smaller firms
- Limited mobile accessibility compared to consumer-focused tools
Best For
Large RIAs, family offices, and wealth managers handling complex, high-AUM portfolios with diverse alternative investments.
Pricing
Custom pricing based on AUM, typically starting at $50,000-$150,000 annually for mid-sized firms, with enterprise tiers scaling higher.
Morningstar Advisor Workstation
specializedInvestment research, portfolio analysis, and asset allocation tool with direct indexing capabilities for advisors.
Portfolio X-Ray, which uniquely dissects portfolios to reveal asset allocation, sector exposure, and style drift in ways no other tool matches
Morningstar Advisor Workstation (MAW) is a comprehensive investment research and portfolio management platform tailored for financial advisors. It provides access to Morningstar's vast database of funds, stocks, ETFs, and other securities, along with advanced analytics tools like Portfolio X-Ray for deep portfolio insights. The software supports client reporting, asset allocation, and performance tracking, enabling advisors to make data-driven recommendations.
Pros
- Extensive investment research database with proprietary ratings and analysis
- Powerful Portfolio X-Ray tool for uncovering hidden risks and overlaps
- Highly customizable client reports and integration with popular CRMs
Cons
- Steep learning curve for new users due to feature density
- High subscription costs that may not suit solo advisors
- Interface feels dated in some areas despite recent updates
Best For
Established financial advisors or firms managing complex, multi-asset portfolios who prioritize in-depth research and analytics.
Pricing
Subscription-based, starting at around $6,000-$10,000 per year per advisor, with enterprise tiers scaling up based on users and features.
Altruist
enterpriseCustody and technology platform offering low-cost trading, portfolio management, and financial planning for independent RIAs.
Free, scalable direct indexing for personalized tax-efficient portfolios
Altruist is a modern custodial and technology platform tailored for independent registered investment advisors (RIAs), offering seamless account opening, trading, portfolio management, and reporting tools. It provides direct indexing, unified managed householding, and advanced rebalancing capabilities within a unified dashboard. The platform emphasizes low costs, API integrations, and a client portal to enhance advisor efficiency and client experience.
Pros
- Exceptionally low fees with no trading commissions
- Advanced features like direct indexing and UMAs included at no extra cost
- Modern, intuitive interface with strong API support for custom integrations
Cons
- Relatively new platform with shorter track record compared to incumbents
- Limited third-party integrations outside core ecosystem
- Custody services may not suit advisors needing specialized alternative investments
Best For
Cost-conscious independent RIAs seeking an all-in-one custodial tech stack to scale efficiently without high fees.
Pricing
25 bps on first $100M AUM (tiered lower thereafter), no platform, trading, or ticket charges.
Wealthbox
specializedModern CRM designed specifically for financial advisors with task management, client communication, and integrations.
Finance-specific opportunity pipelines and SmartLists for automated client segmentation and workflow triggers
Wealthbox is a CRM platform designed specifically for financial advisors and wealth managers to centralize client relationships and streamline operations. It offers robust contact management, task automation, email tracking, and customizable workflows tailored to financial services. The tool integrates seamlessly with popular fintech apps like Riskalyze, RightCapital, and eMoney, enabling advisors to track interactions, opportunities, and compliance needs efficiently.
Pros
- Intuitive, modern interface that's easy to adopt even for non-tech-savvy users
- Deep integrations with financial planning and custodial platforms
- Strong mobile app for on-the-go client management
Cons
- Reporting capabilities are solid but lack advanced customization options
- Pricing scales quickly for larger teams
- Limited built-in marketing automation compared to general CRMs
Best For
Independent financial advisors and small to mid-sized wealth management firms needing a simple, finance-focused CRM.
Pricing
Launch at $35/user/month, Growth at $55/user/month, Advanced at $65/user/month (billed annually); 14-day free trial.
Redtail CRM
specializedRobust CRM platform for financial professionals featuring workflow automation, document management, and compliance tools.
Seamless householding and goal-tracking tailored for financial client lifecycle management
Redtail CRM is a cloud-based customer relationship management platform specifically designed for financial advisors, wealth managers, and insurance professionals. It streamlines client data management, task tracking, document storage, and communication logging with features like householding and goal tracking. The software integrates seamlessly with financial planning tools, custodians, and compliance systems to support regulatory requirements and advisor workflows.
Pros
- Highly intuitive interface with strong mobile app support
- Extensive integrations with financial tools like eMoney, Morningstar, and custodians
- Unlimited storage and compliance-focused features
Cons
- Reporting and analytics are somewhat basic compared to enterprise CRMs
- Limited advanced customization without higher tiers
- Customer support can be slower during peak times
Best For
Financial advisors and small to mid-sized wealth management firms needing an industry-specific CRM with easy setup and integrations.
Pricing
Free basic plan available (often sponsored by partners); Professional plan at $99/user/month; Enterprise custom pricing.
RightCapital
specializedCloud-based financial planning software with scenario modeling, retirement projections, and client collaboration features.
Dynamic Visualizer for interactive, story-driven client presentations that simplify complex planning scenarios
RightCapital is a cloud-based financial planning platform tailored for financial advisors, enabling comprehensive retirement, tax, cash flow, and estate planning through interactive visualizations and scenario modeling. It features Monte Carlo simulations, Social Security optimization, and Roth conversion analysis to help clients visualize financial futures. The software includes a secure client portal for collaboration and integrates with popular CRMs and custodians for efficient workflows.
Pros
- Intuitive, modern interface with engaging visualizations
- Strong holistic planning tools including tax and Social Security optimizers
- Robust client portal and seamless CRM integrations
Cons
- Higher pricing may strain smaller firms
- Limited depth in advanced investment analytics
- Occasional learning curve for complex custom scenarios
Best For
Financial advisors who prioritize user-friendly tools for client-facing holistic financial planning and presentations.
Pricing
Starts at $125/user/month (billed annually) for core features, with premium tiers up to $175/user/month including advanced modules.
eMoney Advisor
enterpriseGoal-based financial planning and client portal platform that integrates with portfolio data for holistic advice.
Dynamic cash flow engine with real-time visualizations for holistic financial planning
eMoney Advisor is a robust financial planning platform tailored for wealth advisors, enabling detailed client financial modeling, goal tracking, and scenario analysis. It aggregates accounts from multiple sources, provides cash flow visualizations, and supports collaborative planning through client portals. As a Perspective Software solution ranked #10, it excels in enterprise-level wealth management but requires customization for optimal use.
Pros
- Advanced goal-based planning and scenario modeling
- Seamless account aggregation and custodian integrations
- Interactive client portal for engagement
Cons
- Steep learning curve for new users
- High pricing with custom quotes
- Limited customization without developer support
Best For
Mid-to-large advisory firms managing high-net-worth clients who need sophisticated planning tools.
Pricing
Custom enterprise pricing, typically $4,000-$10,000+ per advisor annually depending on firm size and features.
Conclusion
The top 10 perspective software reviewed deliver powerful tools for financial advisors, with Orion Advisor Technology leading as the clear winner, boasting a comprehensive suite for portfolio accounting, trading, and client management. Envestnet Tamarac and SS&C Black Diamond stand out as strong alternatives, each offering unique strengths—Envestnet for integrated portfolio solutions, SS&C for scalable, CRM-focused workflows—ensuring there’s a standout option for nearly every practice. Ultimately, the right choice depends on individual needs, but all elevate the advisor experience.
Take the next step in enhancing your practice: explore Orion Advisor Technology, the top-ranked platform, to unlock its full breadth of tools and transform how you manage clients and operations.
Tools Reviewed
All tools were independently evaluated for this comparison