Dealers looking to dodge advisors’ gripes about outdated, out-of-touch and all-around onerous technology would do well to pay attention to the five firms that seem to be doing something right.

With scores of 8.6 or higher — which surpass advisors’ ratings for the importance of technology tools — these firms demonstrate that becoming a tech-savvy firm isn’t easy, but it is simple. The key is listening to what advisors want, then throwing money at the solution.

That’s what PFSL Investments Canada Ltd. is doing. The Mis-sissauga, Ont.-based firm scored a 9.4 in technology, beating out the other 46 dealers in this year’s Report Card series.

Jeff Dumanski, PFSL’s president and chief marketing officer, admits it’s difficult to keep up in a world in which new and better technology is always on the horizon. But that doesn’t stop his firm from forging ahead.

“Sometimes you have to bite the bullet and get the technology, even though it may be obsolete in years to come. You can’t wait forever,” he says.

This year the firm rolled out a new back-office system that allows advisors to do a multitude of tasks, such as online trading, data mining and reporting. PFSL is also unveiling new technology that will give its advisors access to software through a virtual private server.

On the insurance side, PFSL is working on “e-apps,” technology that gives advisors the ability to fill out applications on a hand-held device and submit them directly to the dealer. Suitability screening is done automatically.

“It all translates into being paid faster, your purchase being faster and serving your client faster,” says Dumanski.

Staying ahead of the curve is the philosophy at Richardson Partners Financial Ltd. , the Winnipeg-based boutique brokerage firm that rated a 9.1 in technology performance.

“We continually upgrade per-formance software,” says Richardson Partners president Sue Dabarno. “Technology has changed the way people work and communicate.”

Richardson Partners’ technology and communications platform was built from the ground up, meaning it is free of cumbersome legacy systems, and it is essentially a virtual office that allows advisors to work from any place with Internet access.

“Advisors could be on vacation in Mexico and still conduct business as though they were in the office,” Dabarno says.

That kind of flexibility rates highly with advisors. Those at top-rated firms say that being able to stay at tasks without going into the office was one of the most important things a company can do for employees, in terms of technology.

“Mobility is important, so our platform was designed to work as well at home as at the office,” says Andrew McKinney, director of technical services at Richardson Partners in Toronto. “Advisors can work where they want, when they want.”

Winnipeg-based Wellington West Capital Inc. is also intent on making its advisors’ businesses more efficient — not more complicated — through the use of technology, says chairman and CEO Charlie Spiring. The firm recently converted its quote terminal to Thomson ONE and continues to focus on improving the advisor desktop.

Wellington West also has spent significant money on data consolidation to ensure all information is consistent, regardless of the platform the advisor is working on. “It was one thing our brokers asked for, so we gave it to them,” Spiring says.

But all these changes mean nothing if the advisor doesn’t understand the technology. Spiring says those who participate in the company’s training programs benefit the most. He recalls a training session that five out of seven advisors attended; those who were trained adapted to the technology in a week, while the other two are “paying the price,” he says.

Heavy spending on technology tools is also the theme at Canaccord Capital Inc. The Van-cou-ver-based brokerage won an impressive 9.0 technology rating that no doubt reflects the firm’s investment in new financial planning software and upgrades to its Web pages and intranet. “We’re always spending. Technology evolves and we’re keeping pace,” says Bob Larose, the firm’s executive vice president of private client services.

Such technology improvements please advisors. “It would be difficult to do the job without it,” says a Canaccord advisor. “I’ve seen what other firms have, and it’s ancient. What we have is light-years ahead of most others.”

At Clarica Financial Services Inc. , steady upgrades are being made. The Waterloo, Ont.-based firm scored 9.0 for its technology, which features proprietary software and electronic signature pads.

@page_break@”Seldom a week passes that we’re not investing, in one way, shape or form, in the technology our advisors are using,” says Jack Garramone, vice president of Clarica’s sales force. IE