Best Advisor Workstation Software for Independent Broker-Dealers (2026)
The best advisor workstation software for independent broker-dealers in 2026, comparing Advisor360, Envestnet, InvestCloud, Wealthscape, NetX360+, LPL ClientWorks, Salesforce FSC and Milemarker.
The best advisor workstation for an independent broker-dealer depends on whether you want to buy a full platform or keep the systems you already run. Advisor360 and InvestCloud sell enterprise workstations, Fidelity Wealthscape and Pershing NetX360+ come with your clearing relationship, and Milemarker gives a broker-dealer a branded advisor workstation on top of its existing clearing, CRM, portfolio and planning systems, built on a data layer the firm owns.
Most broker-dealers are not starting from zero. They already have a clearing firm, a CRM, a planning tool, a managed account program and a compliance stack. The real question is whether a new workstation replaces those, sits beside them as another login, or pulls them together into one screen.
What is advisor workstation software for a broker-dealer?
An advisor workstation is the screen a registered representative or investment adviser rep opens first in the morning. At a broker-dealer it usually has to cover:
- Household and account views across brokerage, advisory and direct business
- Client data from the CRM, clearing firm and planning software
- New account opening and account maintenance requests
- Trade requests, model changes and distributions with supervision
- Compliance review, surveillance flags and an audit trail
- Home office news, events and support requests
The hard part is supervision. A broker-dealer has W2 and 1099 advisors, OSJs, branch managers and hybrid RIAs, and each one needs to see exactly the right book. For more background on the category, see our guide to advisor desktop software.
What should an independent broker-dealer look for in an advisor workstation?
- Clearing firm fit. Does it work with your clearing firm today, and would it still work if you added or changed one?
- Data ownership. Can the firm get its own data back out, in full, without an export project?
- Entitlements. Can it scope data by advisor, team, branch, OSJ and role, including split reps and shared households?
- Requests with supervision. Do trade, account and service requests route to the right principal with a logged approval?
- Branding. Can 1099 advisors and acquired firms keep their own brand on the same platform?
- Time to live. How long until advisors log in, and does it need a big replacement project first?
What are the best advisor workstation platforms for independent broker-dealers?
1. Milemarker Advisor Workstation
Milemarker is a data and experience platform for broker-dealers, RIAs, TAMPs and aggregators. It connects custodians and clearing firms (including Fidelity Institutional, Pershing and LPL), CRMs such as Salesforce FSC and Redtail, portfolio systems and planning tools into one normalized data layer built on Snowflake, in the firm’s own dedicated database. The Advisor Workstation puts household, accounts, holdings, planning status, trade requests, service requests and compliance review on one page, on the firm’s domain and brand. W2 advisors see their clients, 1099 advisors can work under their own brand, and advisors can ask Navigator questions in plain English over the firm’s data. Typical implementation is 2 to 12 weeks.
Best for: broker-dealers that want one workstation across the systems they already run, without replacing their clearing firm or CRM.
2. Advisor360
Advisor360 was spun out of Commonwealth Financial Network and sells its integrated wealth management platform to enterprise firms, including broker-dealers and insurance-affiliated broker-dealers. It covers the advisor workstation, CRM, client portal, account opening and back office workflows in one product, and has added AI features to the platform.
Best for: enterprise broker-dealers that want to license a complete, proven platform and move onto it.
3. Envestnet
Envestnet’s wealth platform combines managed account programs, the Envestnet | Tamarac tools and MoneyGuide planning, with an advisor-facing workstation tied to those programs. Many broker-dealers already use Envestnet for their advisory program.
Best for: broker-dealers whose advisory business already runs on Envestnet managed accounts.
4. InvestCloud
InvestCloud provides a modular digital wealth platform of apps for advisors, clients and the home office, which firms configure into their own workstation and portal. It combined with Tegra118 (the former FIS wealth business) in 2021 and serves large banks, wirehouses and broker-dealers.
Best for: large firms with technology teams that want a configurable front end on an enterprise budget.
5. Fidelity Wealthscape
Wealthscape is Fidelity’s platform for broker-dealers and advisors that clear or custody through Fidelity. It gives advisors account data, trading, money movement and service on Fidelity-held assets.
Best for: broker-dealers that clear through Fidelity and want the native clearing workstation.
6. Pershing NetX360+
NetX360+ is BNY Pershing’s platform for broker-dealers and advisors clearing through Pershing, covering accounts, trading, money movement, reporting and third-party integrations on Pershing-held assets.
Best for: broker-dealers that clear through Pershing and want the native clearing workstation.
7. LPL ClientWorks
ClientWorks is LPL Financial’s proprietary advisor platform. It is available to advisors and institutions that affiliate with LPL, not as a product other broker-dealers can license. It belongs on the list because many independent broker-dealers compete with it for recruiting. Our guide on the risks of a proprietary advisor desktop covers what that trade-off means when an advisor or firm wants to leave.
Best for: advisors and institutions that have chosen to affiliate with LPL.
8. Salesforce Financial Services Cloud
Salesforce FSC is a CRM, not a full workstation, but many broker-dealers use it as the base of one, building household views, tasks and service workflows on top with implementation partners. It is flexible and widely supported, and it needs integration work to show clearing, portfolio and planning data.
Best for: broker-dealers with Salesforce skills that want to build their own workstation on the CRM.
How do the options compare?
| Vendor | Type | Best for | Works with existing stack? |
|---|---|---|---|
| Milemarker | Data platform plus branded workstation | One workstation across current systems | Yes, connects to existing clearing, CRM, portfolio and planning |
| Advisor360 | Integrated enterprise platform | Firms ready to move onto one platform | Partly, it replaces several existing tools |
| Envestnet | Managed account platform with workstation | Envestnet advisory programs | Best inside the Envestnet ecosystem |
| InvestCloud | Modular digital platform | Large firms with tech teams | Yes, with configuration work |
| Fidelity Wealthscape | Clearing firm platform | Firms clearing at Fidelity | Fidelity assets only |
| Pershing NetX360+ | Clearing firm platform | Firms clearing at Pershing | Pershing assets only |
| LPL ClientWorks | Proprietary platform | LPL-affiliated advisors | Only inside LPL |
| Salesforce FSC | CRM foundation | Build-your-own on Salesforce | Yes, with integration projects |
Should a broker-dealer use its clearing firm’s workstation or build on a data platform?
Clearing firm workstations are strong on the assets they hold and weak on everything else. An advisor with held-away assets, annuities, direct business, a planning tool and a CRM still logs into each one. A multi-clearing broker-dealer has two workstations that don’t agree.
An enterprise platform like Advisor360 or InvestCloud solves that by becoming the system advisors live in, which usually means a migration and a multi-year commitment.
A data platform approach connects what the firm already runs, normalizes it once, and puts the workstation on top. The advantage is that the firm keeps its vendors and owns the data. The trade-off is that the data model has to be right, which is the part to check in any demo: ask to see one client’s household reconcile across the clearing firm, the CRM and the planning tool. Our guide on data platforms for broker-dealers goes deeper on that layer.
Where does Milemarker fit?
Milemarker is the option for a broker-dealer that wants to keep its clearing firm, CRM and planning tools and give advisors one screen across all of them. It has 140+ wealth management integrations, row-level access by advisor, office and role, PII masking and SSO, and it is SOC 2 Type II. Trade requests, model changes, distributions and new accounts start from the client’s page, arrive prefilled from the firm’s data, and move through a tracked queue with an audit trail. See how it works for broker-dealers.
Frequently asked questions
What is the difference between an advisor workstation and a CRM?
A CRM stores relationships, tasks and activities. An advisor workstation pulls the CRM together with account, portfolio, planning, request and compliance data so the advisor can work a client from one screen.
Can a broker-dealer use more than one clearing firm with one workstation?
Yes, if the workstation sits on a data layer that normalizes each clearing firm’s data into one household and account model. Clearing firm workstations only show their own assets.
How long does it take to roll out a new advisor workstation?
It depends on whether you replace systems or connect them. Milemarker’s typical implementation is 2 to 12 weeks, usually starting with a pilot group of advisors.
Is LPL ClientWorks available to other broker-dealers?
No. ClientWorks is LPL’s own platform for advisors and institutions affiliated with LPL.
Who owns the data in an advisor workstation?
That depends on the contract and architecture. With Milemarker, each firm has its own dedicated database and owns its data, and that data is never sold or used to train AI.
