If the thought of integrating all this technology sounds intimidating, don't fear. It's become easier than ever for advisors of all sizes to use these technologies to support their service efforts. One big reason is that technology providers are increasingly offering solutions created to address RIAs' unique needs and business models. Advisors today can tap a large and growing number of resources that are tailored specifically around how their firms operate. What's more, the technology itself has become more affordable and user friendly than ever. Indeed, advisors are already embracing these technologies: 40 percent to 50 percent of RIAs currently use a tablet devicevii.

Capturing The Opportunity
Technology is reshaping the type of information that financial advisors' clients seek, the way they want to access that information and ultimately they way they will use it make decisions about their financial lives. It's also influencing their choices about who they want to get their advice from.

In short, RIAs large and small must embrace new technologies that will allow them to meet ever-evolving client attitudes and preferences. By using CRM, the cloud and mobile devices to deliver a service experience that increases personalization, on-demand access and mobility, advisors will position themselves to better serve their existing clients-and capture the emerging wave of younger investors that will be crucial to their future success.

Neesha Hathi is senior vice president of Advisor Technology Solutions at Charles Schwab & Co. Inc. and a member of the senior leadership team for Schwab Advisor Services.  In her role, Hathi is responsible for defining and developing Schwab's technology offering for registered investment advisors and other institutional clients at Schwab.

iInternational Data Corporation

iiComscore

iiiGartner, Inc., November 2012

ivForrester Research, North American Technographics Benchmark Survey, 2011

vForrester Research, North American Technographics Benchmark Survey, 2011

viSchwab Advisor Services i

viiGartner, Inc. August 2012