The WealthStack survey revealed wealth managers’ resolute focus on leveraging technology to enhance customer service and streamline operations in 2023. Firms fell into three categories: ‘Innovators’ prioritizing client experience, ‘Operators’ emphasizing operational efficiency, and ‘Laggards’ underutilizing technology.

This year’s survey maintained the self-description approach, enabling a detailed analysis of technology usage, budgets, staffing, ROI, and future strategies for each group. This facilitated valuable comparisons within and across groups, illuminating key trends in technology adoption.