Using Technology to Build Scale
RFG Advisory transformed into RFG 2.0 by developing a fully integrated technology platform centered on intentionality and a servant-warrior culture, leveraging a state-of-the-art fintech stack—including Orion at its core—to empower its 80 advisors across 14 states to efficiently manage over $2.8 billion in assets and enhance client service.
During the latter part of the last decade, hybrid RIA firm RFG Advisory decided to leave its then broker-dealer affiliation and completely rebuild its operations to create what it calls RFG 2.0. This is a fully integrated technology platform designed for independent financial advisors, focused on helping advisors build enterprise value in their practice. The transformation took several years, but when RFG 2.0 launched, it enabled the Birmingham, Alabama-based firm to better serve its approximately 80 advisors across 14 states, managing more than $2.8 billion in advisory assets.
According to Shannon Spotswood, President of RFG Advisory, this new platform allows the firm’s network of advisors to serve their clients more efficiently.
As part of the fourth installment of the Work Smarter webinar series, Shannon discussed how RFG Advisory leveraged technology to build its platform and what motivates the firm to achieve and maintain excellence.
A significant part of the firm’s approach centers on "intentionality," especially in building its culture. For RFG Advisory, this means approaching every day with a servant heart and a warrior mindset. The firm developed this credo after determining it was a service company first, a technology company second, and an RIA firm third.
Being intentional also means leveraging technology, as all advisors have the same 24 hours in a day and need to make the most of them. By providing advisors with a state-of-the-art fintech stack, RFG enabled them to maximize their time, grow their business, and deliver an exceptional client experience.
Orion played a significant role in creating RFG 2.0, supporting the firm's desire to build its own technology, use its own resources, and integrate various vendors to assemble its current tech stack.
Orion helped establish partnerships and relationships that brought RFG Advisory to its current state, with nine functional pieces of technology. Orion sits at the top of the tech stack, facilitating bilateral communication between software programs. Fintech software integrations are crucial, eliminating the need to enter information multiple times. Advisors can efficiently access all their clients through a single client portal instead of logging into multiple account portals.
Ultimately, operational efficiency is achieved by integrating best-in-class solutions and business intelligence best practices.