And again this year, it is the successful advisers who say that technology is key to driving profitability. Adding new technology is more likely to be chosen as one of the most important factors to enhance profitability by high AUM advisers (34 %) than the typical adviser (23 %). Likewise, consolidating existing technology is more likely to be chosen as key to profitability by both high AUM advisers (21 %) and high earning advisers (21 %) than the typical adviser (12 %).

Related: 5 Technology Tools Every Advisor Should be Using

This reinforces the findings of our 2015 study. We learned that the most successful advisers are tech obsessed. They use twice as many technology apps in their practice compared to the typical adviser. The majority of successful advisers evaluate their technology at least weekly, while the typical adviser is more likely to evaluate their technology monthly. Ultimately, we saw that advisers who manage more AUM spend more on technology — anduse more technology — to make their job more seamless and achieve greater scale. The conclusion? For successful advisers, the only thing more expensive than adding technology is not adding technology.

THE ROLE OF ROBOS

This year we revisited the topic of robo advisers and digital advisory solutions. With volatility identified year over year as the top concern related to investing, protecting their practice and protecting their clients’ portfolios, we knew it was important to ask both advisers and investors if they are confident that robo advisers can provide proper management and protection for portfolios in volatile markets. The differences are striking — and reinforced our earlier findings.

Click here to read the full story on Iris.xyz.