The persistent challenge of weak technology adoption is stifling the growth of wealth management firms. Startlingly, there is no indication that this trend is changing direction and no definitive playbook for firms seeking to tackle this problem.

This report, the first in a two-part series, details new ways of looking at the persistent problem of technology adoption within wealth management firms. It is based on discussions with wealth management firms, secondary research, and results from two quantitative and qualitative Datos Insights surveys: the Datos Insights 2024 Financial Advisor Survey, conducted in April 2024 with 436 participants, and the Datos Insights Executive Council Q2 2024 survey, conducted in May 2024 with 19 participants.

Clients of Datos Insights’ Wealth Management service can download this report.

This report mentions Envestnet and Orion.