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

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Key Insights

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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