Adviser practices that are more extensively incorporating the use of technology within their practice are growing at faster rates than practices that are not, according to The Cerulli Report — State of U.S. Wealth Management Technology 2024.
Cerulli’s research finds advisers considered heavy users of technology tend to outperform other practices in terms of new client growth rates and assets under management growth rates. Nearly 30 percent of heavy technology users are identified as being higher-growth practices over the most recent three-year period, compared to only 9 percent of light users.
Enhanced efficiency and productivity are undeniable outcomes of technology usage. Cerulli data finds heavy technology users average materially better performance than light users across practice productivity metrics. These improved metrics include higher numbers of c