Creating an IPS manually takes the average advisor 155 minutes per client. The right investment policy statement software cuts that to 57 minutes. That’s nearly 100 minutes back per client. Multiply that across 50 clients, and you’re reclaiming an entire workweek every year. In this guide, I tested and compared the top tools available in 2026, covering pricing, AI features, integrations, and who each tool is actually built for. Let’s get into it.
What Is the Best Investment Policy Statement Software in 2026?
The best investment policy statement software in 2026 is eMoney Advisor for full financial planning, Andes Risk for AI-driven IPS generation, and IPS AdvisorPro for budget-conscious solo advisors. For compliance-heavy firms, StratiFi leads the pack. The best pick depends on your firm’s size, budget, and whether you need standalone IPS tools or an all-in-one platform. For managing client relationships, see our guide to the best CRM for financial advisors.
1. eMoney Advisor — Best Overall for Comprehensive Financial Planning
My take: eMoney Advisor isn’t a dedicated IPS tool; it’s a full financial planning platform that, as part of its broader planning workflow, produces excellent investment policy statements. If you’re already using it for financial plans, the IPS output is a natural extension.
Key IPS Features:
- Customizable IPS templates integrated directly into financial plans
- Automatic population from risk profile and portfolio data
- Client portal with e-signature and secure document delivery
- Compliance archiving and audit trail
Pricing: AUM-based typically starts around $250–$500/month for small RIAs; larger firms pay more. Fidelity clients may get subsidised access. Contact for exact quote.
| ✅ Pros | ❌ Cons |
|---|---|
| Best-in-class financial planning integration | Expensive for solo advisors |
| Polished, professional IPS output | Steep learning curve |
| Strong Fidelity / Schwab custodian sync | IPS is secondary — not the core product |
2. Orion Advisor Tech — Best for Mid-to-Large RIA Firms
My take: Orion is a powerhouse. Its IPS workflow lives inside a broader portfolio management ecosystem. So if you’re already on Orion for rebalancing and reporting, pulling IPS generation into the same platform is a no-brainer. For firms with AUM below $50M, the cost-to-value math gets harder to justify. Compliance-focused advisors should also review financial services CRM software.
Key IPS Features:
- Model-portfolio-linked IPS generation with automatic updates
- Compliance module with FINRA and RegBI alignment
- Orion Connect integration with 200+ fintech apps
- Bulk IPS creation for household-level management
Pricing: AUM-based enterprise pricing. Generally starts around $0.10–$0.20 per $1,000 AUM. Call for exact pricing — they don’t publish it publicly.
| ✅ Pros | ❌ Cons |
|---|---|
| Excellent scalability for large client books | No transparent pricing |
| Deep integration with Orion’s ecosystem | Overkill for solo or small advisors |
| Strong compliance and audit tools | IPS is not available as a standalone module |
3. Andes Risk (Andes Wealth Technologies) — Best for AI-Powered IPS Generation
My take: This is the most interesting tool in the roundup for 2026. Andes Risk uses a patented behavioural finance engine to generate IPS documents automatically from client risk questionnaires. The output is personalised, SEC marketing-rule-compliant, and genuinely impressive. I tested it with three mock client profiles, and each IPS felt custom — not templated.
Key IPS Features:
- Patented AI engine: questionnaire → full IPS in one click. Behavioural bias is baked into the IPS narrative
- Built-in SEC and RegBI compliance language
- Auto-update triggers when portfolio drifts beyond set thresholds
Pricing: Contact for pricing. Mid-range category — likely $200–$500/month based on firm size. Free demo available.
| ✅ Pros | ❌ Cons |
|---|---|
| Fastest IPS generation I’ve seen — literally one click | No public pricing |
| Behavioural finance integration is genuinely unique | Lesser-known — smaller user community |
| Compliance language is built in, not bolted on | Integration library smaller than Orion/eMoney |
4. StratiFi — Best for Compliance-Focused Firms (SEC/RegBI)
My take: StratiFi’s whole pitch is risk management and compliance — and it delivers. The IPS generation is strong, but the standout feature is its compliance overlay. Every IPS comes with a risk score rationale that satisfies RegBI documentation requirements. If compliance is your #1 concern, this is your tool.
Key IPS Features:
- Risk scoring is integrated directly into the IPS output
- RegBI and fiduciary documentation are built into every IPS
- Automated compliance review flags
- Client-facing risk portal with IPS delivery
Pricing: Starts around $250/month for small firms. Enterprise plans are available. Free trial offered.
| ✅ Pros | ❌ Cons |
|---|---|
| Best compliance coverage of any IPS tool I tested | Risk-first focus can feel limiting for planning-heavy advisors |
| Free trial makes it easy to evaluate | UI is functional, but not the most polished |
| Strong client-facing portal | Some features are locked to higher tiers |
5. Kwanti — Best for Risk Profiling + IPS Generation
My take: Kwanti is a clean, well-priced tool that connects risk profiling directly to IPS creation. The workflow feels natural; you run the risk questionnaire, review the portfolio analysis, and the IPS builds itself from that data. At under $200/month for solo advisors, it punches above its weight class.
Key IPS Features:
- Risk tolerance questionnaire auto-populates IPS
- Monte Carlo simulation results embedded in IPS
- PDF export with firm branding
- Integrates with Redtail, Wealthbox CRMs
Pricing: Solo plan starts at around $149/month. Team plans from $299/month. Annual discount available.
| ✅ Pros | ❌ Cons |
|---|---|
| Best price-to-feature ratio in this category | No client portal — delivery is manual |
| Clean UI — minimal training required | IPS customisation is moderate, not deep |
| Transparent, published pricing | Limited compliance documentation features |
6. Advyzon — Best All-in-One Platform with CRM Integration
My take: Advyzon is the Swiss Army knife of this roundup: Built-in CRM, portfolio management, billing, and IPS all in one platform. The IPS module isn’t the deepest on the list, but the integration with the rest of the platform is seamless. If you’re tired of juggling five different tools, Advyzon is worth a serious look.
Key IPS Features:
- IPS templates linked to CRM client records
- Auto-sync with custodian portfolio data
- Client portal with document signing
- Audit log for every IPS version
Pricing: Starts around $65/month per user. All-in-one pricing makes it cost-effective compared to buying separate tools — Demo required for an exact quote.
| ✅ Pros | ❌ Cons |
|---|---|
| One platform for CRM, portfolio, and IPS | The IPS module is less sophisticated than standalone tools |
| Competitive all-in-one pricing | Switching costs if you already use Salesforce or Redtail |
| Good custodian integrations | Less customizable IPS templates |
7. Morningstar Advisor Workstation — Best for Research-Driven IPS
My take: Morningstar Advisor Workstation isn’t a pure IPS tool — it’s a research platform that feeds into the creation of IPS. If your IPS process involves a lot of fund selection justification, asset class data, and forward-looking analysis, MAWS gives you the data firepower to back up every recommendation you put in writing.
Key IPS Features:
- Investment proposal builder with Morningstar data integration
- Asset allocation modelling tied to IPS objectives
- Fund due diligence documentation
- Compliance-ready proposal reports
Pricing: Starts around $135/month. Premium data packages cost more. Academic pricing available for qualifying institutions.
| ✅ Pros | ❌ Cons |
|---|---|
| Unmatched research depth for IPS justification | IPS creation is secondary — it’s really a research tool |
| Trusted brand — clients recognise Morningstar data | Can be slow compared to purpose-built IPS tools |
| Reasonable pricing for the data access | Limited automation — IPS still requires significant manual work |
8. RightCapital — Best for Goal-Based Planning with IPS Support
My take: RightCapital is primarily a financial planning tool — but it’s one of the best-priced in its class. Its IPS support is solid if basic. For advisors who lead with retirement and goal-based planning and need IPS as a deliverable within that workflow, it’s a strong value pick.
Key IPS Features:
- IPS generation within goal-based financial plans
- Risk tolerance questionnaire auto-fills IPS fields
- Client portal delivery with e-signature
- Scenario-based IPS adjustments
Pricing: Starting around $150/month. Known for transparent, competitive pricing compared to rivals like MoneyGuidePro.
| ✅ Pros | ❌ Cons |
|---|---|
| Best-priced planning platform with IPS support | The IPS module is not the primary feature |
| Modern UI — easy client demos | Limited standalone IPS customization |
| Good e-signature and portal features | Fewer custodian integrations vs eMoney/Orion |
9. IPS AdvisorPro — Best Dedicated IPS Tool for Budget-Conscious Advisors
My take: This is the only tool on this list that does IPS, and it does IPS alone — no portfolio management, no CRM, no financial planning. Just investment policy statements — and it does them really well. If you already have a CRM and planning tool and just need a better IPS workflow, this is your pick. It’s also the one that published that 155 → 57-minute stat.
Key IPS Features:
- 100+ IPS templates across client types
- Bulk IPS creation — generate multiple statements simultaneously
- Client review and approval workflow
- Compliance audit trail
Pricing: Starts around $45–$60/month. Affordable, transparent pricing. Free trial available.
| ✅ Pros | ❌ Cons |
|---|---|
| Most affordable dedicated IPS tool | No financial planning or CRM features |
| Fastest IPS template library — 100+ templates | Not ideal if you want an all-in-one platform |
| Published pricing, no sales calls needed | UI feels dated compared to newer platforms |
10. Envestnet Black Diamond — Best for Portfolio Reporting + IPS
My take: Black Diamond is a premium portfolio reporting platform. Its IPS capabilities are solid, but not its headline feature. If your clients expect detailed, beautifully formatted performance reports alongside their IPS, this is worth the price. For advisors who just need IPS, it’s overbuilt.
Key IPS Features:
- IPS generation linked to portfolio performance data
- Rebalancing triggers aligned with IPS thresholds
- Customizable branded reporting with the IPS section
- Deep Schwab and Fidelity custodian integration
Pricing: AUM-based enterprise pricing. Not published. Expect a $500–$1,500/month range for mid-size firms. Demo required.
| ✅ Pros | ❌ Cons |
|---|---|
| Best portfolio-reporting + IPS combination | Very expensive for solo or small firms |
| Premium client experience — polished reports | IPS is a secondary feature, not a primary one |
| Strong custodian integrations | Lengthy onboarding and implementation process |
Quick Comparison: All 10 Tools at a Glance
| Tool | Best For | Starting Price | IPS Focused? | Rating |
|---|---|---|---|---|
| eMoney Advisor | Full planning platform | ~$250/mo | No (full suite) | ⭐⭐⭐⭐⭐ |
| Orion Advisor Tech | Large RIA firms | AUM-based | No (full suite) | ⭐⭐⭐⭐⭐ |
| Andes Risk | AI-powered IPS | Contact | Yes (AI-native) | ⭐⭐⭐⭐⭐ |
| StratiFi | Compliance-heavy firms | ~$250/mo | Partial | ⭐⭐⭐⭐☆ |
| Kwanti | Risk profiling + IPS | ~$149/mo | Partial | ⭐⭐⭐⭐☆ |
| Advyzon | All-in-one + CRM | ~$65/user/mo | No (all-in-one) | ⭐⭐⭐⭐☆ |
| Morningstar AWS | Research-driven IPS | ~$135/mo | Partial | ⭐⭐⭐⭐☆ |
| RightCapital | Goal-based planning | ~$150/mo | No (planning) | ⭐⭐⭐⭐☆ |
| IPS AdvisorPro | Budget-friendly solo | ~$45/mo | YES (dedicated) | ⭐⭐⭐⭐☆ |
| Black Diamond | Portfolio reporting | AUM-based | No (reporting) | ⭐⭐⭐☆☆ |
How Much Does Investment Policy Statement Software Cost?
Here’s the honest answer: pricing in this space is wildly inconsistent. Some tools publish clean monthly rates. Others hide everything behind a ‘request a demo’ wall. Here’s what I’ve found across all tiers:
| Tier | Price Range | Tools in This Tier | Best For |
|---|---|---|---|
| Free | $0 | Easy-Peasy AI, Morningstar template | DIY, low volume, testing |
| Budget | $45–$100/mo | IPS AdvisorPro, Kwanti Solo | Solo advisors, <20 clients |
| Mid-Range | $100–$500/mo | StratiFi, Kwanti Team, RightCapital, Advyzon | Small firms, 20–100 clients |
| Enterprise | $500–$2,000+/mo | eMoney, Orion, Black Diamond | Large RIAs, 100+ clients |
| AUM-Based | 0.10–0.20 per $1K AUM | Orion, Black Diamond (enterprise tier) | Firms with $100M+ AUM |
💡 My take: Most enterprise tools don’t publish pricing — they want you on a demo call so they can size you up. The budget and mid-range tools (Kwanti, StratiFi, IPS AdvisorPro) are refreshingly transparent. If a tool hides its price, assume it’s expensive.
Which Investment Policy Statement Software Is Best for Small Businesses?
Let me be direct: most of the investment policy statement software guides online are written for large RIAs. They recommend eMoney and Orion tools that cost more per month than some small advisory firm’s entire software budget.
For this guide, I define ‘small firm’ as: solo RIA, under 10 advisors, or under $50M AUM. Here are the real picks for this segment:
Best IPS Software for Small Firms — My Top 3 Picks
- IPS AdvisorPro (~$45/mo) — Purpose-built, affordable, and it does one thing extremely well. Perfect if you just need a reliable IPS workflow without paying for features you’ll never use.
- Kwanti (~$149/mo) — Great if your IPS process starts from a risk profile. The price is fair for what you get.
- StratiFi (~$250/mo) — Worth the stretch if compliance documentation is a priority. A free trial means low risk to try it.
Best Free IPS Software Options in 2026
Yes, free options exist. They won’t replace a proper tool at scale, but for low-volume or early-stage advisors, they’re worth knowing:
- Easy-Peasy AI: Free AI-powered IPS generator. Enter client details, get a draft IPS — no custodian integration — purely a drafting tool. Good starting point.
- Morningstar IPS Template: Free downloadable template from Morningstar’s site. Manual, no automation, but professionally structured and credible.
- Tool-free trials: StratiFi and IPS AdvisorPro both offer free trials, technically limited-time offers.
IPS Software for Solo Financial Advisors
If you’re a one-person shop, here’s what actually matters in a tool:
- Low monthly cost (under $200/month)
- No minimum seat counts — solo plans available
- Easy client delivery — PDF export or portal, without IT setup
- Minimal implementation time — you don’t have a tech team
✅ Solo advisor verdict: IPS AdvisorPro for dedicated IPS, Kwanti, if you want risk profiling included. Both have solo plans and don’t require a demo call to get started.
How Does AI-Powered Investment Policy Statement Software Work?
This is the most exciting development in this space heading into 2026, and almost nobody is talking about it. Traditional investment policy statement software uses templates to fill in fields and get a document. AI-powered tools do something fundamentally different.
Here’s the typical AI IPS workflow:
- Client completes a behavioural risk questionnaire (online, 5–10 min)
- AI engine analyses risk tolerance, time horizon, behavioural biases, and financial goals
- Platform cross-references with the current portfolio composition from custodian data
- AI drafts a personalised IPS — not a filled-in template, but a narrative document
- Advisor reviews, edits if needed, and sends for e-signature
AI IPS Generation vs Manual Templates — Which Is Better?
| Factor | AI Generation | Manual Templates |
|---|---|---|
| Time to create IPS | ~5–15 minutes | 60–155 minutes |
| Personalization | High — each IPS is a unique narrative | Moderate — fill-in fields |
| Compliance language | Auto-included (in good tools) | Advisor must review/add |
| Scalability | 100 clients = same time as 1 | 100 clients = 100x the work |
| Cost | Higher — AI tools cost more | Lower — templates are cheap |
| Best for | Growth-stage firms, high client volume | Low volume, high customisation needs |
SEC Compliance and AI-Generated Investment Policy Statements
Here’s the thing: advisors get nervous about whether they can trust an AI-generated IPS to be compliant. The short answer is yes if you use the right tool. Andes Risk, for instance, builds SEC marketing rule language directly into every generated IPS. StratiFi’s compliance overlay flags any language that could trigger RegBI issues before the document is sent.
⚠️ Important: AI-generated documents still require advisor review before client delivery. Somebody should set a tool to auto-send without a human checkpoint. The AI handles the drafting; the advisor handles the judgment.
What Features Should Investment Policy Statement Software Have?
Not all investment policy statement software is built the same way. Before you buy anything, here’s the feature checklist I use when evaluating tools:
IPS Template Library & Customisation
A strong template library means you’re not starting from scratch every time. Look for: editable sections, firm-branded headers/footers, and multiple IPS types (growth, income, balanced, ESG). IPS AdvisorPro leads here with 100+ templates.
Risk Tolerance Assessment Integration
The best tools connect the client’s risk questionnaire directly to the IPS so the asset allocation targets in the document actually match the risk profile. Kwanti and Andes Risk handle this seamlessly.
Compliance & Regulatory Features (SEC, FINRA, RegBI)
This is non-negotiable in 2026. Your IPS software should have built-in RegBI documentation, SEC marketing rule language, and, ideally, a compliance review step before the document goes to the client. StratiFi is the strongest here.
CRM and Custodian Integration
Your IPS tool should talk to your CRM (Redtail, Wealthbox, Salesforce FSC) and pull portfolio data directly from custodians (Schwab, Fidelity, Pershing). Manual data entry is where errors happen.
E-Signature & Client Portal Capabilities
The IPS needs to get signed. Tools without e-signature either require third-party tools (DocuSign, Adobe Sign) or ask clients to print and scan. In 2026, native e-signature is the baseline expectation.
Automated Rebalancing Alerts & Portfolio Monitoring
An IPS isn’t a one-and-done document; it needs to stay current with the portfolio. The best tools trigger an IPS review when a client’s portfolio drifts beyond the documented thresholds.
Feature Checklist at a Glance
| Feature | Why It Matters | Top Tools |
|---|---|---|
| Template library (50+ templates) | Faster IPS creation | IPS AdvisorPro, eMoney |
| Risk profile integration | Data consistency in the IPS | Kwanti, Andes Risk |
| Compliance module (RegBI/SEC) | Regulatory protection | StratiFi, Andes Risk, Orion |
| CRM integration | Eliminate manual data entry | Advyzon, eMoney, Orion |
| Custodian sync (Schwab/Fidelity) | Real portfolio data in IPS | eMoney, Black Diamond, Orion |
| Native e-signature | Streamlined client delivery | eMoney, Advyzon, RightCapital |
| Client portal | Professional delivery & storage | eMoney, RightCapital, StratiFi |
| Rebalancing/drift alerts | Keeps IPS current | Orion, Black Diamond, eMoney |
| Bulk IPS creation | Scalability | IPS AdvisorPro, Orion |
| Audit trail/version history | Compliance documentation | All enterprise tools |
How Do I Choose the Right Investment Policy Statement Software?
In my experience evaluating SaaS tools, advisors make the same two mistakes when buying investment policy statement software: either overbuying (an enterprise tool for a 5-client practice) or underbuying (a free template that breaks every SEC audit). Here’s my 6-step framework:
- Define your firm size and client volume. Under 30 clients? Budget tools work. 30–100 clients? Mid-range. 100+? Consider enterprise or AI-native platforms.
- Identify your compliance requirements. Broker-dealers and RIAs have different documentation needs under Reg BI. Fiduciary advisors need full paper trails. Know your requirements before shopping.
- Audit your existing tech stack. What CRM are you using? What custodians? A tool with zero integration to your existing stack creates more work, not less.
- Prioritise: must-have vs nice-to-have. Must-haves: templates, e-signature, compliance language. Nice-to-haves: AI generation, bulk creation, fancy reporting.
- Request demos and run a 30-day pilot. Every tool on this list offers a demo or trial. Don’t buy without testing with 3–5 real client files.
- Calculate your ROI before you commit. If software saves you 98 minutes per IPS and you charge $300/hr, each IPS saves you $490 in billable time. At 50 clients, that’s $24,500/year, which more than justifies $2,000–$5,000/year in software costs.
💡 My rule of thumb: If you’re spending more time managing your IPS process than delivering it to clients, you’ve outgrown your current system. That’s your signal to upgrade.
What Are the Benefits of Using Investment Policy Statement Software?
Investment policy statement software isn’t just a time-saver; it changes the quality of your practice. Here’s what I’ve seen it do for advisors who actually commit to using it:
- Time savings: 155 minutes → 57 minutes per IPS. At 50 clients/year, that’s 82 hours saved — roughly two full workweeks.
- Consistency: Every client gets the same structured, professional document — no IPS variation based on who wrote it or when it was written.
- Compliance protection: Standardised templates with built-in regulatory language dramatically reduce the risk of missing a required disclosure.
- Scalability: Software doesn’t get tired. Creating IPS #100 takes the same time as IPS #1.
- Client trust: A polished, personalised IPS signals professionalism. Clients who receive a well-formatted IPS are more likely to stay long-term.
- Error reduction: Auto-population from risk profiles and custodian data eliminates transposition errors caused by manual entry.
📊 The numbers: A 50-client advisory firm that saves 98 minutes per IPS, at a blended rate of $200/hr in advisor time, recovers approximately $16,300/year in productivity. Most IPS software costs $500–$3,000/year. The ROI math is straightforward.
Frequently Asked Questions About Investment Policy Statement Software
What is investment policy statement software?
Investment policy statement software is a digital platform that automates the creation, delivery, and management of IPS documents for financial advisors, RIAs, and portfolio managers. It replaces manual template-filling with workflow automation, risk-profile integration, and compliance tools — typically cutting IPS creation time by 50–65%.
Is there free investment policy statement software?
Yes, limited free options exist. Easy-Peasy AI offers a free AI-based IPS generator. Morningstar provides a free downloadable IPS template. Both StratiFi and IPS AdvisorPro offer free trials. Free tools lack custodian integration, compliance modules, and client portal delivery, fine for low volume, insufficient for production use.
How do I create an investment policy statement?
You need to: define client goals, assess risk tolerance, document constraints, set target asset allocation, establish monitoring procedures, and get it signed. The good news? Investment policy statement software automates steps in these processes, pulling data from the risk questionnaire and the portfolio directly into the document.
Do I need software to create an IPS?
No, you can create an IPS manually using a Word template. But manual creation takes roughly 2.5 hours and introduces risks to consistency and compliance. The software reduces that to under an hour while standardising language, integrating real portfolio data, and maintaining an audit trail.
What is the best IPS software for a solo financial advisor?
IPS AdvisorPro (starting ~$45/month) is the best dedicated IPS tool for solo advisors. Kwanti (~$149/month) is ideal if you want risk profiling built in. StratiFi (~$250/month) is worth the stretch if compliance documentation is a priority. All three offer solo plans without minimum seat requirements.
Does IPS software integrate with CRM systems?
Yes, leading tools integrate with Redtail, Wealthbox, and Salesforce Financial Services Cloud. Advyzon has a built-in CRM. Most platforms also pull portfolio data from Schwab and Fidelity custodians. Always verify the availability of specific integrations before purchasing integration libraries, as they vary significantly by tool.
Can AI write an investment policy statement?
Yes. Andes Risk uses a patented AI engine to generate a full IPS from a behavioural risk questionnaire in one click. StratiFi adds AI-driven compliance review on top of AI drafting. Easy-Peasy AI offers a free version. In all cases, the investment policy statement software drafts the document; the advisor reviews and approves it before it reaches the client.
The Bottom Line
Here’s my final recommendation based on who you are:
| You Are | Best Pick | Why |
|---|---|---|
| Solo advisor, budget-conscious | IPS AdvisorPro | Cheapest dedicated IPS tool, great templates |
| Growing RIA, compliance-focused | StratiFi | Best compliance documentation, free trial |
| Small firm wanting all-in-one | Advyzon | CRM + portfolio + IPS in one platform |
| Tech-forward, want AI-native IPS | Andes Risk | Only truly AI-native IPS generator |
| Large RIA, already on planning platform | eMoney Advisor | Best IPS inside the full planning suite |
| Enterprise, portfolio-reporting priority | Orion or Black Diamond | IPS embedded in the reporting workflow |
The right tool depends on your scale, budget, and workflow. Don’t overbuy, don’t underbuy. Start with a free trial from StratiFi or IPS AdvisorPro, both of which let you test with real client files before committing. If you want cutting-edge AI generation, book a demo with Andes Risk. The 98 minutes you save on your first IPS will tell you everything you need to know.
