Advisors are focused on growth and on technology—considerably moreso for either than for any other business priority.
So if they had an extra dollar to invest in their business, the largest number would put that dollar toward growth opportunities.
That’s according to the Scottrade Advisor Services RIA Study, which found that when it came to spending money, 38 percent of registered investment advisors said growth was their first priority, while 25 percent were looking at technology.
Employee/talent management didn’t even get half as much attention as tech, at 13 percent, while only 12 percent prioritized client service despite its importance to their businesses.
Eight percent said operations/processes were their priority, while compliance/regulation garnered a dismal four percent.
Regardless of company size, growth was the top choice for the most advisors.