Advisors Put Technology Ahead of Price in Record Keeper Picks as Nearly 50% Boost Tech Spending
Updated
Updated · Wealth Management · Jul 1
Advisors Put Technology Ahead of Price in Record Keeper Picks as Nearly 50% Boost Tech Spending
1 articles · Updated · Wealth Management · Jul 1
Summary
NMG Consulting found advisors now tie record keeper recommendations more closely to technology, integration and ease of doing business than to fees, even though pricing remains a common screening factor.
Nearly half of advisors said they are investing in technology to improve efficiency and differentiate their own practices, reflecting fee compression, higher service demands and tighter staffing.
Advisor preferences vary by segment: wealth advisors favor streamlined rollover and operational workflows, while DC specialists put more weight on integrated platforms, fiduciary analytics and participant engagement tools.
Fidelity, American Funds and Vanguard scored highly on digital experience and ease of doing business, reinforcing NMG’s view that technology has become a 'silent differentiator' in advisor satisfaction and advocacy.
The shift is pushing advisors to consolidate around fewer record-keeping partners that offer integrated technology, consistent service and transparent pricing rather than multiple disconnected systems.