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Tech Survey: The forces reshaping wealth management

From the Editors of Financial Planning | Sponsored by
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To see more results from our annual survey, please see our interactive graphic: Tech Survey: The forces reshaping wealth management

Planners are finally acknowledging that technology can vastly improve their practices and their advice. But how many are actually following through?

About 38% of the advisors surveyed for Financial Planning's new Tech Survey, told us that robo platforms would transform the wealth management industry in the next one to three years. Yet only 18% told us their firms had implemented the technology.

Clearly, there is room to grow.

But there's one tech tool that advisors and their firms have embraced wholeheartedly: Mobile.

Some firms have created their own smartphone apps. Doing so is beneficial to clients and advisors alike, planners told us. Said one survey respondent: "We have our own branded mobile app — this is attractive to our young clients as they can access [their accounts] easily."

Another said that mobile has "changed everything! [I] can do almost all my work from my phone, not that I'd want to, but [it] helps in a pinch."

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