NEW YORK, NY (Nexus Strategy, LLC) Dec. 8, 2008—A consortium of technology providers to the independent financial advisory industry, today announced the formation of the Independent Advisor Technology Forum (IATF) at www.iatechforum.com to help newly independent financial advisors set up their businesses.

News reports and industry data suggest that thousands of former financial advisors associated with Wall Street firms have left or are leaving their firms in the wake of this year’s financial turmoil and are forming their own, independent financial advisory firms. They will be joining the ranks of more than 18,000 established registered investment advisors (RIAs) who serve higher net worth investors across the United States.

One key aspect of going independent is the requirement for newly independent financial advisors (IFA) to purchase the software, hardware, and other technology components to complete their back office. According to a recent survey by Schwab Institutional, a leading custodian to independent RIAs, 51% of advisors who recently turned independent said that choosing technology for their new practice was one of their biggest challenges.

To address this key need, IATF will facilitate interaction among independent advisors to exchange ideas on setting up their businesses. It will also feature various workshops and online webinars aimed to assist advisors in developing their own independent business models. Content will include:

• Educational articles and white papers;
• Interactive blog with industry expertise authored by technology consultants and professionals;
• Technology evaluations;
• Requirements worksheets; and
• Best practices for IFAs.

“For many advisors, they’ve never had to build an investment practice from the ground up and this requirement can be an obstacle for going independent,” said Timothy D. Welsh, CFP®, President of Nexus Strategy, LLC, a leading consulting firm to the independent advisor industry. “The www.iatechforum.com will be a key resource for advisors that will help them find all of the information they need in one place to make the right technology purchasing decisions and make the transition easier.”

Charter members of IATF are:

• Laserfiche—Document management.
• Junxure—Customer relationship management (CRM) and office management.
• Black Diamond Performance Reporting—Portfolio accounting and performance reporting.
• IPS AdvisorPro—Investment policy statements and asset allocation.
• Laser App—Software provider that combines state of the art form filling technology with a massive library of industry-related forms.
• Nexus Strategy, LLC—Strategic, technology and marketing consulting.

To learn more about the online Independent Advisor Technology Forum, please visit the official Web site at www.iatechforum.com.