Digital trends such as cloud computing are making innovative software available to startups and allowing financial advisers to take business and client data with them when they change firms, Michael Kitces writes. In addition, application programming interfaces for software are making it increasingly possible for advisers to unify their financial-planning software, portfolio management and reporting, and client-relationship management, Kitces writes. The result is less costly, more efficient and more innovative solutions for individual advisers and firms of all sizes, he writes.

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