WealthTech: Navigating the Software Market for Financial Advisors


Financial advisors are confronted with a wide variety of software to choose from when launching a practice or replacing existing technology. With so many providers and configurations available, determining the optimal choice for the advisor’s particular needs can be a challenging endeavor.

In fact, some vendors position themselves as covering all facets of the advisor workflow, when in fact they rely heavily on pre-integrations with third-party point solutions. From the advisor’s perspective, the selection process has become so confusing and time-consuming that it is often easier to delay decision-making. COVID-19 might have been a blessing-in-disguise for many vendors as it drove advisors to adopt new technologies they had been putting off.

This report provides an overview of the advisor workflow, from client management all the way to back-office connectivity. Next, it delves into regional and functional variations within the global advisor software market. It provides estimates on market size by region and ends with a discussion on how the industry is expected to evolve.




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