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Optimize Your Trading Workflow for Success

There are many important factors that lead to the successful optimization of your trade operations, some that can be controlled and some that cannot. The amount of time available in a day is one that cannot, no matter how hard advisors may try! When every second matters, how can you ensure that you’re using your time in the most effective manner? From highly customized household modeling to trading strategies that account for market volatility, regardless of your investment approach, you can gain an important advantage by optimizing your trading workflow. 

Creating Structure and Workflows for Your Business

Risk management, order management, trade execution, compliance monitoring, and back-office operations all require structure and distinct processes. Especially as a firm grows, these processes become more and more complicated and can require excessive manual examination and verification. Managing current clients, prospective new clients, and business operations, in general, is time-consuming without a streamlined workflow. 

To begin the process of creating workflows for an RIA it is important to identify all of the constraints specific to each environment. In an article from Nerd’s Eye View, Teresa Riccobuono (a professional organizer who consults with financial advisors about how to get more organized) shares some best practices for creating these important processes and workflows. Workflow optimization requires analyzing, standardizing, and automating each process as much as possible to improve productivity. 

Optimizing your trading workflow can improve accuracy, avoid wasted time, and empower you and your team to provide clients with a consistent experience. Whether you’re just getting started in the industry, you are in the process of scaling your investment advisory business, or you already have an effective workflow established, technology can help you to further customize and optimize your trading workflow

Utilizing Technology for Automation and Customization

Technology provides an obvious advantage through automation in the stages of workflow optimization. Automating the identification of accounts that require trading, determining the trades to generate, trade verification and trade execution is possible, but there are often exceptions that challenge full automation. Advanced tools can handle highly customized scenarios, offer solutions to trading compliance issues and support options for multi-custodian integration. With intensified scrutiny of compliance regulation and the potential for unexpected changes in the custodian marketplace (like the recent Schwab – Ameritrade merger), it is crucial that the tools you utilize are agile and can be customized to your trading needs.  As your workflows evolve with changes in the industry, your technology must be able to adapt as well.  

Optimize Your Trading Workflow with Blaze Portfolio

The reality is that running a successful advisory firm requires systematic processes and workflows for every step of trading. Whether you are in the initial stages of outlining your trading workflows or striving for total workflow optimization, Blaze Portfolio provides the technology to improve productivity. Get the most out of the available time in each day by automating and customizing your risk management, order management, trade execution, compliance monitoring, and back-office operations. Through real-time monitoring, advanced functionality, and seamless software integrations with portfolio accounting and reporting systems, custodians, and other third-party systems, Blaze Portfolio can help to optimize your trading workflow

For more information on how Blaze Portfolio can help with workflow optimization, request a customized demo here