Wealthtech Trends That Dominated 2023, And Will In 2024
Executives From Morningstar, Opto Investments And Wealth.com Explain How Technology Is Changing The Game For Advisors And Their Firms
Wealth Solutions Report 12/26/23 (Written by Larry Roth, Co-Founder of Ascentix)
As I endeavored to identify the wealthtech trends that dominated 2023 and are poised to do so in 2024, I had to remind myself that for all the attention drawn to generative artificial intelligence this year, AI ultimately is an emerging tool that wealth management firms are still figuring out how to unlock true value from, in service to financial advisors and their clients.
With client service in mind, I kept returning to the pace of platform integrations as among the most potent value drivers for advisors and their firms. Why? Because proper integration minimizes manual labor, saves time and leads to new capabilities. Three wealthtech vendors in particular exemplified this trend in 2023: Orion, Nitrogen and Envestnet.