Perspective

Gaining traction through GrowthTech: Leveraging technology to propel your business forward

Opportunities to deliver data-driven personalization at scale, improve lead acquisition, and capture actionable insights across the entire client life cycle.

Key Takeaways
  • Improving a firm's marketing and business development efforts continues to be the number one priority for firms.1
  • However, RIAs report that advisors are only spending 8% of their time prospecting for new clients and spending only 2% of their budget on marketing2 (compared to companies across industries who are spending six times that amount).3
  • In order to meet their growth goals, firms need to prioritize the implementation of front-office, revenue-generating technology, which we're calling GrowthTech.
  • GrowthTech is a set of tools that can help firms uncover prospects, automate personalized marketing campaigns, enable real-time engagement, and offer insights on client behavior to strengthen long-term relationships.
Explore more on:
Business strategy Growing your business Platform technology Technology strategy & design
Next steps to consider

Practice Management

Let our proprietary research, industry expertise, and commitment to innovation help transform your practice into a future-ready firm.

Learn more

Fidelity Portfolio Quick Check®

Analyze, compare, and optimize your investment strategy in minutes with our free on-demand digital portfolio analysis tool.

Learn more

Asset Allocation Research Team (AART)

Access economic, fundamental, and quantitative analysis from our Asset Allocation Research Team.

Learn more

Related insights

View all
Perspective
How Generative AI will actually transform financial advice
A report from the Fidelity Center of Applied Technology® exploring the potential impact of Generative AI on wealth management.
Perspective
Gaining traction through GrowthTech: Leveraging technology to propel your business forward
Opportunities to deliver data-driven personalization at scale, improve lead acquisition, and capture actionable insights across the entire client life cycle.
Spotlight
AI in wealth management
Artificial intelligence (AI) is rapidly evolving, with applications like ChatGPT taking this old field of study to new heights. Find out more about this technology, its risks, and its potential to transform the future of wealth management.

1. Source: The 2023 Fidelity RIA Benchmarking Study.
2. Source: The Cerulli Report—U.S. RIA Marketplace 2023: Resiliency in the Pursuit of Scale, Cerulli Associates, 2023.
3. Source: The Cerulli Report—U.S. RIA Marketplace 2023: Resiliency in the Pursuit of Scale, Cerulli Associates, 2023.

  • For important information, see the full linked content.
1141490.2
45BE33DF399342E297D5A8073F086BDE