How Technology Is Matching the Wealthiest Clients With Advisers

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By Mitchell H Caplan

The adviser industry continues evolving as innovation and new technology disrupts the status quo. According to Jefferson National’s second annual Adviser Authority studytapping the power of technology is one of the clearest distinctions of the most successful advisers and most affluent investors — and all advisers should take note.

This year’s study again shows that the most successful RIAs and fee-based advisers are forward thinkers, marketing innovators and technology adopters. This innovative mindset is driving change in our industry — and all advisers at every level can capitalize on this knowledge to build a more scalable and profitable practice and create a more enduring franchise.

(We surveyed nearly 700 RIAs and fee-based advisers nationwide, and more than 700 individual investors, from the mass affluent to the ultrahigh net worth. Then we zeroed in on two types of successful advisers: Advisers who individually manage a total AUM of $250 million or more, and high-earning advisers, who earn over $500,000 yearly income from their advisory business.)


Year over year, the pursuit of profitability continues to be advisers’ single most important practice management issue. And when asked how they are planning to enhance the profitability of their practice, the push for new clients remains the top driver. More than half (56 %) of RIAs and fee-based advisers say that adding new clients is the top factor for enhancing profitability. Likewise, advisers are focused on targeting more affluent clients (27 %), targeting the younger segments of Generation X and millennials (25 %), as well as attracting and retaining clients’ heirs (25 %).