The survey data tells us what's been going on this past year, but it doesn't tell you what's going to happen next year. Here are a few modest technology predictions for 2014.
1. Continued cloud migration: A no-brainer. While many advisors continue to express reservations about cloud-based technologies, we believe the shift is inevitable. For firms with less than $1 billion in AUM, the business case is compelling: They can outsource hardware, software, maintenance, backups and - to a large extent - disaster recovery. (The case is less clear-cut for larger firms, which can justify a full-time in-house IT department, but there are still advantages.) Meanwhile, most new advisor software is cloud-based, offering advisors an ever-expanding selection of applications.
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