Technology & AI
Nine questions worth more than a demonstration
A demonstration shows the path the vendor rehearsed. These questions show the product.
Published
How do I get my data out
In what format, how complete, how long it takes, and whether history is included. Ask now, while you are a prospect. The answer you get during a cancellation is a different answer.
What specifically syncs with my other systems
“Integrates with” spans a live two-way connection and a manual file export. Ask which fields, which direction, how often, and what happens when it fails.
Who else is paid in this transaction
Whether the vendor receives compensation from custodians, asset managers, or anyone whose products appear in the platform. This is the equivalent of Item 10, and it is just as informative.
What happens on the bad day
Show me a failed transfer, a rejected document, a billing error. The demonstration covers the clean path. Your staff will live on the other one.
Any vendor can show you the happy path. Ask to see the day it goes wrong.
Who answers when something is broken
A named person, a queue, or a form. What the response time actually is, not the target. Whether support understands advisory firms or is generic.
What are you not good at
A vendor who cannot answer this has either not thought about their product or is unwilling to be straight with you. Both are useful to know. The good ones answer immediately and specifically.
Where does my client data live and who can see it
Storage location, encryption, access controls, subprocessors, and whether anything you put in is used to improve their models. Get it in the contract rather than the sales call.
Can I talk to someone who left
References supplied by the vendor are happy by construction. Someone who churned will tell you what actually broke.
What does this cost in year three
Pricing at your expected size, including anything that scales with accounts, users, or assets. Introductory pricing that resets is a common unpleasant surprise in advisory technology.