Read MoreDually registered advisor space booms
Power said automated performance reporting is a technology that benefits clients. The platform that Gateway uses automatically runs the reports, which clients can access through a secure website portal. It also can aggregate account data from other places—i.e., a 401(k) plan held elsewhere—for clients so they can see all their assets in one report.
Power also said his firm uses a client relationship management system that gives the staff access to the same information—things like note-taking after phone calls, service requests to assistants, appointments and advisor calendars—that ultimately benefits clients.
"It makes us efficient and makes clients feel like they are being served properly," Power said. "If they call to check up on something, an assistant can pull up notes and see who's working on it and where it stands."
Like all industries, investment managers are aware of the importance of protecting private client information and preventing security breaches.