Why Wealth Management Firms Should Choose a Data Cloud Over a Data Lake

And Why Milemarker Is the Preferred Partner for Making It Happen

In wealth management, data is the engine. But too many firms are trying to run that engine with disconnected spreadsheets, legacy systems, and endless exports.

Enter the fork in the road:

Data Lake or Data Cloud?

If you’ve heard both terms and aren’t quite sure which is right for your business, you’re not alone. Let’s break it down—and show why a data cloud is the smarter, more scalable choice for modern advisory firms.

Data Lakes: Great in Theory, Messy in Practice

A data lake is a massive digital dumping ground for all your data. Structured, unstructured—it all goes in. Think of it like a warehouse with no shelving system. You can find what you need… but it’ll take time, a forklift, and probably a data engineer.

🔹 Pros:

– Affordable storage

– Flexible data formats

– Can handle big volumes

🔻 Cons:

– Requires heavy lifting to make data usable

– Often needs dedicated engineers to extract insights

– Limited collaboration and control

Data Clouds: The Evolution Advisors Actually Need

A data cloud, like what Milemarker delivers, takes the concept of a data lake and upgrades it—massively. Instead of raw storage, you get an intelligent, collaborative, secure environment where your data becomes instantly useful.

🔹 Pros:

– Structured, query-ready data from day one

– Real-time access for advisors, ops, and leadership

– Native governance, permissions, and compliance

– Lightning-fast analytics and dashboards

– Easy integration with your tech stack (CRM, custodians, planning, etc.)

🔻 Cons:

– Requires intentional design and a strategic partner (That’s us.)

Why Milemarker Is the Data Cloud Partner of Choice

Milemarker doesn’t just give you a place to store your data—we help you take action with it. We connect your core systems, structure your firm’s data model, and deliver a cloud environment purpose-built for wealth management.

Here’s what that looks like in practice:

✅ Unified advisor + client data across systems

✅ Seamless connections to platforms like Orion, Black Diamond, Salesforce, and more

✅ Dynamic dashboards, workflows, and reporting without the IT bottlenecks

✅ Built-in security, audit trails, and access control

And because our platform runs on industry-best infrastructure—Snowflake + AWS—you’re not just buying storage. You’re investing in performance, flexibility, and scale.

Let’s Be Honest: You Don’t Need More Data. You Need Better Access.

Advisors don’t need to become data scientists. They need answers. The right data cloud turns your raw data into ROI by letting your team make faster decisions, prepare better client meetings, and eliminate manual work.

Whether you’re trying to scale, integrate a recent acquisition, or simply get your house in order—the data cloud is the foundation you need.

Make the move.

Move from murky lakes to crystal-clear clouds.

Milemarker is here to help you get there—fast, securely, and with clarity.