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The 6 must-have tech tools

Here's what advisors say their firms must use to catch up, and get ahead.

To see more insights from our annual survey, please see our interactive graphic: Tech Survey: The forces reshaping wealth management

SPEAKER: What are six top trends advisors should watch in coming years? Take it from us, early adopters are going to have a leg up at the practice of the future.

1. Everything mobile – Advisors who can use an app to deliver professional and convenient experience to their clients are going to have an edge over those who can’t. Don’t dismiss it as a ploy to cater to millennials. Baby boomers are heavy users of apps.

2. Virtual Assistance – these freelancers work remotely and can help advisors streamline their business by performing a variety of tasks.

3. Instant portfolio strategy recommendations – In a couple of clicks, platforms can now provide important strategy suggestions. This option drastically reduces the amount of time needed to have a report in hand.

4. Provider crossover – Technology providers of all stripes are wandering into the RIA sandbox. They’re sensing the market opportunity to serve the breakaway advisor movement. Look for greater experimentation and offerings in 2018.

5. Hybrid advisors – More planners expect to augment the human side of their practice with robo technology.

6. Micro investing – Millennials are driving this trend, investing small amounts through a variety of apps and websites.

Please see financial-planning.com for more vital data from our exclusive survey.