The wealth management industry is witnessing a fundamental shift. The traditional Turnkey Asset Management Platform (TAMP), which bundled everything from portfolio management to back-office support, is facing a new competitive threat from modular technology stacks. For RIAs navigating this transformation, understanding why integration matters more than having everything in one platform isn't just academic—it's essential for survival.

The Death of the One-Stop-Shop TAMP

The TAMP industry was once considered the future of wealth management. With advisor adoption surging to 45%—up from just 10% a decade ago—the outsourced portfolio solution model rapidly shifted from innovation to industry standard. Yet beneath these impressive numbers lies a more nuanced reality: not all TAMPs are created equal, and the one-size-fits-all model is crumbling.

The problem? Traditional all-in-one platforms promised simplicity but delivered rigidity. RIAs must now contend with a wide array of tools with little-to-no integration across platforms, and the monolithic TAMP structure can't keep pace with the specialized needs of modern advisory firms.

Why Traditional TAMPs Are Struggling

• Limited customization: Cookie-cutter portfolios and standardized workflows don't serve the personalized client experience modern HNW clients demand

• High costs: RIAs spend nearly 40% of their time on administrative tasks, yet traditional TAMPs charge asset-based fees that scale poorly

• Vendor lock-in: Switching costs are enormous when all your technology lives inside a proprietary ecosystem

• Innovation lag: All-in-one platforms can't match the agility of specialized fintech providers focused on solving one problem exceptionally well

Why Schwab/Fidelity Integration Is Non-Negotiable

At the foundation of any modern RIA tech stack sits the custodian relationship. Schwab is the custodian for over $8 trillion and Fidelity serves over $10 trillion, making them the dominant players in the independent RIA space.

Here's why this matters: Your technology stack is only as good as its ability to seamlessly pull data from and execute trades at your custodian.

The Multi-Custodial Advantage

Schwab has an open architecture and flexible processes, while Fidelity's WealthScape platform has great proprietary features like account opening, trading, and reporting. But the real power move? Being multi-custodial.

Benefits of custodian-agnostic tech stacks:

• Client flexibility: Don't lose business because a prospect's assets are held at a custodian you can't support

• Negotiating leverage: Multiple custody relationships give you pricing power and service competition

• Business continuity: Avoid disruption from custody platform changes (remember the TD Ameritrade-Schwab merger?)

• M&A readiness: Acquiring firms with different custodians becomes seamless

Building Modern Modular Tech Stacks

The best-in-class approach breaks the traditional TAMP model into specialized components. For RIAs, the three technology solutions with highest adoption rates are: customer relationship management (CRM) platforms (94 percent adoption), financial planning software (93 percent), and performance reporting/portfolio management (88 percent).

Core Components of a Best-in-Class Stack

1. Custody Layer: Schwab + Fidelity (Multi-Custodial)

• Direct integrations for real-time account data

• Trade execution across multiple custodians

• Consolidated reporting regardless of where assets are held

2. Portfolio Management: The Hub

• Trading and rebalancing automation

• Performance reporting and analytics

• Tax-loss harvesting capabilities

• Model marketplace access

3. CRM: The Relationship Engine

• Redtail is highly popular among new RIAs due to its ease of use and over 100 integrations available

• Workflow automation for client onboarding and service

• Integration with email, calendar, and document management

4. Financial Planning: The Value Proposition

• Scenario modeling and retirement projections

• Estate and tax planning modules

• Client-facing portals for engagement

The Integration Layer: Where the Magic Happens

Companies like Dispatch enable advisors to collect, structure, and sync client data across various advisor platforms, ensuring that any data changes made in the CRM are reflected in financial planning and portfolio management tools. This "tech stack synchronization" approach represents the future—allowing RIAs to use best-of-breed solutions without sacrificing integration.

Cost Analysis: Integrated Suite vs. Modular Stack

Let's get specific about the economics. RIAs spend on average 2% of their firm's revenue each year on technology. But how does this break down between integrated suites and modular approaches?

Traditional TAMP/All-in-One Costs

For a $100M AUM firm:

• TAMP fees: 25-40 basis points on assets = $250,000-$400,000 annually

• Hidden costs: Limited model flexibility, restricted investment universe, standardized service model

• Opportunity cost: Revenue share models can capture 30-50% of advisory fees

Best-in-Class Modular Stack Costs

For that same $100M AUM firm:

• Portfolio management platform: $15,000-$50,000 annually

• CRM system: $5,000-$15,000 annually

• Financial planning software: $6,000-$20,000 annually

• Integration/middleware: $10,000-$25,000 annually

• Total: ~$36,000-$110,000 annually

The savings? $140,000-$290,000 per year while maintaining complete control over your tech stack and client experience.

The ROI of Integration

The majority of managers who integrated wealthtech effectively were the firms that showed the best growth trajectory. This isn't just about cost savings—it's about capacity. Better technology integration creates time and resources that can be directed toward client acquisition and service.

Why One-Stop-Shop TAMPs Are Dying (And What's Replacing Them)

The TAMP model isn't disappearing—it's evolving. The rise of Model Marketplaces represents a significant disruptive threat for existing marketplace incumbents like Envestnet, as advisors gain newfound choices about whether to outsource just the creation of investment models, or their back-office implementation as well.

Three Emerging Models:

1. Pre-Integrated Tech Stacks via Acquisition
Orion Advisor Solutions started as a portfolio management tool that acquired financial advisor CRM Redtail and investment and trading platform TownSquare Capital in 2022. The challenge? Actually integrating acquired pieces into a cohesive platform.

2. All-in-One Platforms from the Ground Up
Companies like Advyzon and Advisor360 build comprehensive platforms from inception, avoiding the integration headaches of the acquisition model but struggling to match specialized providers' depth in any single category.

3. Best-of-Breed with Orchestration Layers
This is where Surmount Wealth thrives. Rather than forcing RIAs into a proprietary cage, modern platforms provide:

• Direct integrations with major custodians (Schwab, Fidelity, Interactive Brokers, E*TRADE)

• AI-powered portfolio construction and optimization

• Personalized client management at scale

• No vendor lock-in: Use Surmount alongside your existing CRM, planning, and compliance tools

The Surmount Difference: Broker-Agnostic Personalization

Traditional TAMPs force you to choose: personalization or scalability. Surmount Wealth eliminates this false choice.

What Makes Surmount Different:

• Custodian agnostic: Seamless integration with Schwab, Fidelity, and other major custodians means you're never locked in

• True personalization at scale: AI-powered portfolio construction that adapts to each client's unique goals and constraints

• Modern client experience: Institutional-quality investment management without the institutional rigidity

• Complete or modular implementation: Use Surmount as your comprehensive TAMP replacement or layer it into your existing stack

67% of advisors now use integrated technology stacks, a significant increase from 48% in 2022. The firms winning this transition aren't those with the most expensive all-in-one platforms—they're the ones thoughtfully assembling best-in-class components that actually work together.

The Path Forward: Building Your Stack

For RIAs evaluating their technology strategy in 2025, here's the roadmap:

1. Audit your current stack: What's working? What's held together with duct tape and prayer?

2. Prioritize integration over features: The best tool in isolation is worthless if it doesn't talk to your other systems

3. Start with custody relationships: Multi-custodial capability isn't optional anymore

4. Add specialized best-of-breed tools: Don't settle for "good enough" in critical areas

5. Invest in the orchestration layer: Whether that's Surmount Wealth or another platform, you need something tying it all together

The wealth management industry's unbundling isn't a threat—it's an opportunity. RIAs that embrace modular, integrated tech stacks will deliver superior client experiences while operating more profitably than their competitors trapped in legacy TAMP models.

Ready to modernize your tech stack? Discover how Surmount Wealth's platform delivers institutional-quality portfolio management with the flexibility your growing RIA demands. Visit surmountwealth.com to see the difference integration-first thinking makes.