Wealth Management Technology: Financial Advisor Adoption, Utilization, and Performance
May 29, 2024
The correlation between financial advisor technology adoption and practice performance is growing stronger. According to our latest research, advisory practices considered heavy users of technology tend to outperform other practices in terms of new client growth rates and assets under management (AUM) growth rates. In fact, nearly 30% of heavy technology users are identified as being higher-growth practices over the most recent three-year period, compared to just 9% of light users.
Cerulli’s Michael Rose, MST, shares insight into what technologies are having the most impact on advisor productivity and growth and challenges blocking adoption.
This Session Explores:
·How advisors are accessing technology stacks and how this differs across wealth management channels
·Adoption rates for wealth management technology among advisors and future expectations
·Perceived gaps in the technology made available to financial advisors by their broker/dealers and/or custodians
·Top technologies adopted and benefits provided
·The types of advisors most likely to switch vendors and why
Presented by:
Michael Rose, MST
Director
Bio →
Michael Rose, MST
Director
Michael is a director within Cerulli’s Wealth Management practice, where he researches key elements of the wealth management industry, with an emphasis on broker/dealers and wealth management technology. In this capacity, he regularly engages with constituents across the wealth management ecosystem, including retail investors, financial advisors, and executives within wealth management, asset management, and technology firms, in order to support Cerulli’s market research initiatives.
Prior to joining Cerulli, Michael spent eight years working as a financial advisor, providing comprehensive wealth management services to high-net-worth individuals and families. Prior to his role as a financial advisor, Michael served as a research analyst for IDC, where he was responsible for researching trends within the technology industry and advising senior business executives on product strategy.
Full biography here.
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