Running Your Entire RIA Business on Microsoft 365: Eliminating Silos and Third-Party Tools

In this episode of RIA Tech Talk, we talk about how most RIAs with between 5 and 25 employees are not fully utilizing their Microsoft 365 subscription. These firms are often paying for 3rd party tools that are not as good as those provided by Microsoft and, worse yet, work in silos.
Tune in to hear how you can run your entire business on Microsoft:
Maximizing Microsoft 365: Overcoming Underutilization
There is a common issue among RIAs: the underutilization of Microsoft 365. Many RIAs continue to pay for third-party tools that offer similar or inferior capabilities to those included in their Microsoft 365 subscriptions. In this podcast, we encourage RIAs to explore and fully utilize the features available in Microsoft 365, which can handle 80-90% of your business needs. This includes tools for communication, file management, security, and more, all integrated into a single ecosystem.
Email Management
Most RIAs already use Microsoft 365 for email. By hosting their emails with Microsoft instead of third-party services, RIAs can enjoy better integration and security.
File and Folder Organization
Using SharePoint for file management eliminates the need for separate services like Dropbox, offering seamless integration and security within the Microsoft ecosystem.
Instant Messaging with Teams
Microsoft Teams is recommended for internal communication, providing a robust alternative to Slack and other messaging apps.
Phone System Integration
While Teams can replace traditional VoIP systems, David advises caution as it currently lacks texting capabilities, an essential feature for some RIAs.
Securing System Access
Microsoft’s Entra (formerly Azure Active Directory) offers tools for securing access to systems, ensuring both physical and identity security.
Endpoint Security
Microsoft Defender provides comprehensive endpoint security, outperforming many third-party solutions in protecting laptops and other devices.
Single Sign-On (SSO)
This feature simplifies access to web-based applications like RedTail, eMoney, and Orion, streamlining operations and enhancing security.
Advanced Email Features
Microsoft 365 offers advanced email functionalities, including encryption, data loss prevention, and eDiscovery, often eliminating the need for additional third-party tools.