There’s a widening gap between advisors’ growth ambitions and the tools and education available to support them, particularly as client expectations and interest in emerging asset classes continue to rise.
That’s according to new research that shows that nearly seven in 10 advisors lack confidence that their firm’s current technology stack is fully aligned with their growth objectives.
The joint study from Broadridge Financial Solutions and the Financial Services Institute reveals that uncertainty carries real business implications with 30% of respondents saying that access to the right combination of tools could influence their broker-dealer affiliation decisions.
Meanwhile, 76% believe improved technology would significantly enhance their ability to attract new clients, highlighting a strong return potential for firms that invest in modern, advisor-centric platforms.
“As client expectations rise, advisors are looking for more connected technology and stronger education to support growth,” said Chris Perry, President of Broadridge. “Broadridge works closely with advisors and firms to help modernize technology environments, improve efficiency, and support more seamless client experiences, all of which help advisors streamline their practices, attract and retain next-gen clients, and expand their product offerings to include asset classes like digital assets.”
When asked to prioritize technology enhancements, advisors focused on practical capabilities that directly affect daily operations and client experience.
Top areas include account opening and onboarding (22%), paperwork automation (15%), client-facing digital tools (15%), and financial planning software (10%).
Technology alone, however, is not enough. Education and awareness emerged as equally critical. A strong majority (82%) of advisors say better training and clearer visibility into available tools would help them drive growth more effectively, reinforcing the need for enablement alongside innovation.
Generative AI adoption is no longer nascent among advisors. More than half (51%) report using AI in at least one part of their practice, with uptake strongest among younger professionals and larger firms. Advisors under 45 show a 67% adoption rate, compared with 43% among those 65 and older. Firms overseeing $50 million or more in assets also report higher usage than smaller practices.
On average, AI users deploy the technology in two primary areas: client engagement (29%) and marketing (21%), signaling its growing role in scaling outreach and improving efficiency.
“Client expectations are rising as investors adopt a digital-first mindset and have access to more information about financial products and investment options than ever before,” said Dale Brown, President & CEO of FSI. “Across the independent financial services industry, momentum is building around the adoption of AI and other emerging technologies to increase efficiency and elevate the client experience. Innovative digital tools create a powerful opportunity to enhance client services, strengthen advisor-client relationships and support sustainable growth, while helping independent advisors and firms build lasting relationships with the next generation of investors.”
The study also highlights tension around specialty asset classes. More than half of advisors (53%) report increased client interest in cryptocurrency, yet nearly half say they need to strengthen their knowledge, making crypto the lowest-ranked priority despite rising demand.
Alternative investments present a different picture. While 31% see growing client interest, 77% of advisors express confidence in their ability to provide guidance. Technology plays a meaningful role here as well: 38% say digital tools have improved tracking, performance, and analytics, while 37% note expanded access to alternative investment opportunities.
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