Advisors Seek Tech and AI to Drive Growth and Client Acquisition

Independent financial advisors are increasingly seeking technology solutions to drive growth and serve younger clients. A Broadridge and Financial Services Institute study reveals that 76% of independent advisors believe better technology would ease client acquisition, particularly for account opening, onboarding, and financial planning automation. However, nearly 70% lack confidence that current firm technology supports growth goals, especially regarding emerging asset classes like crypto and private markets. The research highlights a significant gap: advisors see what technology could do for growth but face expertise and enablement challenges. Notably, 50% of advisors and two-thirds under 45 already use generative AI for client engagement and marketing, though adoption gaps persist between large and small firms. The study emphasizes that pairing technology rollouts with education and training is critical for maximizing adoption and returns.