Technology is resource dependent and a significant expense to all wealth firms. Technology is also a “must have.” It matters in both the retention and recruitment of advisors and investment clients. Over the years, we have seen firms build, rent, and leverage a combination of both. As business leaders, what is
the thinking behind how you look at technology? Do you want to solve vertical problems, or do you look at a partner that can help you with multiple solutions built into a central orb that you can build around? Strategically, is it worth it for firms’ provide an elevated and differentiated technology experience? Does the future portend an integrated ecosystem sponsored by technology firms, custodians or enterprise firms themselves? If your firm has developed their own integrated environment, how hard was it to build and, more importantly, how hard is it to maintain and keep current?