6 tech tools that smaller advisory firms want most
Smaller wealth managers, which lack the scale and resources of large financial services firms, actually have a higher demand for wealthtech tools than their larger wirehouse counterparts. The need from regional banks, small RIAs and community banks represents a major opportunity for fintech firms that can fill the void, according to a new study from consulting firm Cerulli Associates.
The research found the “true market opportunity” for wealthtech companies sits with the more than 2,000 wealth management firms that control roughly $10 trillion in assets under management.
The Cerulli report is based on a survey of 101 decision-makers at midsize wealth management firms.
So where do small firms need the most help? Click through the slideshow to see the fintech tools that are outsourced most frequently.