Technology must “do” something. It's not about bells and whistles; it is about tangible impact. Does it save time, expand your capabilities, improve the customer experience or improve profitability? If not, it's just noise.
All too often, wealth managers fall into the trap of building expansive technology stacks to cover every possible need. This approach can lead to an “open stack”—a complicated mix of tools that don't integrate well and fail to deliver clear results. All-in-one operating platforms, while attractive, are not without their risks and added support costs. Instead, advisors should focus on technologies that directly support their goals and create meaningful results.
A strategic approach: core and satellite
Simplifying your technology strategy starts with the core and satellite approach. “Core” tools are your foundational systems—those necessary for day-to-day operations, such as CRMs, financial planning software, or portfolio management platforms. These tools should be powerful, well-integrated, and central to your practice.
“Satellite” tools, on the other hand, are enhancements. They address specific needs, such as AI analytics, customer engagement platforms or forecasting tools. By treating satellite tools as modular, you maintain flexibility while ensuring that each tool serves a clear purpose in line with your strategy.
Your customers care about results, not tools
Here's the truth: your customers don't care about the complexity of your technology stack. They care about the experience you provide. Seamless, intuitive interactions are now table stakes. Customers expect user-friendly portals, real-time updates and clear reporting. Anything less, and they're likely to look elsewhere.
For advisors, the value of technology lies in how it supports this client experience. Efficient and well-integrated systems reduce manual effort, save time, increase time to value and increase profitability. When technology streamlines your operations, you can focus on what really matters: delivering exceptional service.
Technology as a multiplier of human advice
Relationships are the cornerstone of wealth management, but managing these relationships becomes more complicated as client expectations increase. Technology can amplify your ability to deliver personalized, high-value advice at scale. It's not about replacing human advisors – it's about empowering them.
Long GrowthTech Summit 2025: Using technology to explain value beyond financial planning, Shannon Rosic, director of WealthStack's content and solutions delivered the customer perspective, stating, “Clients may not care about the technology itself, but they care about the results. They want clear insights, proactive advice and ultimately simplified financial lives.”
Advisors, on the other hand, must do all the work on the backend, leveraging tools like AI-powered insights, data visualization and real-time reporting to uncover hidden opportunities, ultimately tailoring strategies to individual needs and to engage customers holistically.
Avoiding “Stack Franken”
The temptation to adopt every promising tool is real, but it often leads to inefficiency and wasted resources. Instead, focus on:
- Tools that integrate seamlessly with your existing systems.
- Solutions that deliver measurable ROI.
- Technology in line with your goals and customer needs.
A simple and strategic technology stack sets you apart from typical technology-enabled advisors.
conclusion
Technology isn't about the latest gadgets, it's about what those tools can achieve. By adopting technology that aligns with your goals and streamlines customer interactions, you can ensure that technology becomes a true partner in your success. The future of wealth management lies in this integration of human expertise and intelligent technology – delivering more value, more efficiently.
The technology you use doesn't matter – it's how you use it, why you use it, and how you explain that value proposition to your customers.
Matt Beecher is the Interim Chief Revenue Officer