Top RIAs view talent and technology as biggest challenges

They want more bang for big tech bucks, poll of advisers by Pershing finds

May 1, 2019 @ 1:58 pm

By InvestmentNews

While 41% of top RIA firm executives consider hiring and developing talent to be their biggest challenge, wringing more value from their large technology budget is viewed as the biggest business challenge by 37% of the executives, according to a poll taken by BNY Mellon's Pershing at its recent 2019 Elite Advisor Summit.

An overwhelming majority (80%) of the 27 advisory firms that participated in the poll are planning to increase investments in technology in 2019, according to the poll. Almost half (45%) cited creating a better client experience — online or otherwise — as the top goal for technology investments, followed by creating more capacity for advisers (29%).

(More: RIAs needn't fear the large custodians)

The biggest technology challenge, according to 44% of respondents, is the adoption of technology by advisers, followed by identifying the right technology stack (28%).

In building an optimal client experience, 62% of respondents said they were funneling their technology investments toward integrations (customer relationship management, custodian, account opening, etc.), while 27% said they were focusing on building client portals or websites.


What do you think?

View comments

Most watched


Young professionals see lots of opportunity to reinvent the advice experience

Members of the 2019 InvestmentNews class of 40 Under 40 have strategies to overcome the challenges of being young in a mature industry.


Young advisers envision a radically different business in five years

Fintech and sustainable investing are two factors being watched closely by some of the 2019 class of InvestmentNews' 40 Under 40.

Latest news & opinion

New Jersey fiduciary rule: Pressure leads to public hearing, comment deadline extension

Industry push results in chance to air grievances on July 17 and another month to present objections.

InvestmentNews' 2019 class of 40 Under 40

Our 40 Under 40 project, now in its sixth year, highlights young talent in the financial advice industry. These individuals illustrate the tremendous potential of those coming up in the profession. These stories will surprise, entertain, educate and inspire.

Galvin to propose fiduciary rule for Massachusetts brokers

The secretary of the commonwealth is proposing a fiduciary standard in response to an SEC investment-advice rule he views as too weak.

Summer reading recommendations from financial advisers

Here are some books that will keep you informed and entertained during summer's downtime

4 strategies for Roth conversions

There's never been a better time to do a Roth conversion, and here are several ways to go about it.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print