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.
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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.
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