While two-thirds of financial advisers say technology has been mostly beneficial to their firms, 61% say it would be easier to manage if their various systems were better integrated, an SEI survey released July 11 found.
Nearly 60% said that technology was one of the top factors in their firms' continued success, though not the most important factor.
While they have the right tools, advisers say, they aren't using them to their maximum advantage. In addition to less than 10% of advisers having fully integrated systems, 86% are still doing some processes manually instead of using technology to relieve the burden. Most advisers use technology to improve their financial planning processes (77%) or in customer relationship management (74%). More than half use technology for document management.
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