Advisers signal growing dissatisfaction with tech systems

One in four advice firms considering switching practice management systems

Sahar Nazir
clock • 2 min read

Financial advice firms are considering changing their core technology systems, citing frustrations with data management, client portals, and integration capabilities, according to AdviserSoftware.com, part of the Financial Technology Research Centre (FTRC).

The Adviser Technology Index (ATI), which surveyed over 200 advice firms, shows how advisers rate the tools they use day-to-day and where they feel vendors are falling short. Covering 19 categories of advicetech, including practice management, cashflow planning, compliance, and hybrid advice models, the index found both usage trends and adviser sentiment across seven software providers. The data showed that 26% of advice firms are considering reviewing or replacing their practice management system (PMS) within the next 12 to 24 months. Salesforce and Benchmark users were the least likely...

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