Netwealth's 2024 AdviceTech Report
Building a culture for digital transformation
Discover the principles and techniques for effectively incorporating new technology into your business.
Download the reportOverview
Fast-forward your digital maturity
According to Netwealth’s latest AdviceTech research, over 50% of advice firms struggle to successfully implement new digital projects. The reasons vary, but advice firms tell us they often lack the time, expertise, or undervalue its impact.
In Netwealth’s 2024 AdviceTech research we investigated how the best advice firms and businesses overcome these challenges, and found there were four main attributes for digital success, including how they lead, their innovative culture, having a pre-defined digital strategy and a clear process of change.
Download the report to learn how to accelerate your digital maturity
Framework
Netwealth’s Digital Maturity Framework
In Netwealth’s 2024 AdviceTech research, there were four attributes of digital maturity which successful businesses demonstrated.
Business leaders require an openness to innovation, continuous commitment, and the ability to recognise the important role of people in executing digital projects.
A culture that embraces flexibility, encourages staff to drive innovation and shares feedback contributes to ongoing technological learning.
The firm’s digital strategy is well documented with key focuses on client satisfaction and engagement, and aligns with the overall business strategy.
Change processes allocate adequate time and resources to the implementation of technology whilst minimising disruption to the usual business flow.
Insights
Benchmark yourself against AdviceTech Stars*
Here are some of the findings from our latest AdviceTech Report, download the full report to get all the insights.
82% of leaders are committed to innovation
A clear characteristic of AdviceTech Star leaders is a commitment to continuous improvement and staying ahead of the curve.
72% have a culture of experimentation
AdviceTech Stars genuinely encourage staff to experiment, test and learn.
73% have a technology roadmap/strategy
AdviceTech Stars are superior planners, with three-quarters having a technology roadmap or strategy.
6 in 10 pilot new technology
AdviceTech Stars typically run pilots of new technologies before rolling them out to the entire business.
*AdviceTech Stars are advice firms that are superior users of technology, and have greater commercial success than the average (2024 Netwealth AdviceTech research)
On-demand webinar - Building the digital advice firm of the future
Based on Netwealth’s 2024 AdviceTech research this presentation will provide you with the building blocks to embed digital and technology transformation into the DNA of your firm. Explore how to digitally transform your firm with Netwealth’s new Digital Maturity Framework, a tailored approach that ensures that your firm can leverage the full potential of AdviceTech to stay ahead in the industry.
Resources
Workshops and tools for the firm of the future
Access workshops and tools to help your team innovate and deploy technology more effectively.
AdviceTech Roadmap workshop
Develop your AdviceTech roadmap by investigating and prioritising the different technologies available to your business.
Customer journey workshop
Use this full-day workshop to identify pain points in your customer’s experience with you, and identify digital solutions to address them.
Prioritisation matrix
When there are lots of technologies how do you prioritise them? Using this simple tool you can, by plotting them on our 2x2 prioritisation matrix.
2024 AdviceTech Buyer’s Guide
This report will allow you to benchmark your firm’s tech usage and adoption against high-performing 'AdviceTech Stars' and will explore more than 30 available AdviceTech solutions, including their key features, benefits, and top suppliers.
Why your technology offer matters to family offices
Learn how your firm’s investment in technology can be offered to family offices to improve their operational efficiency, elevate reporting, support better portfolio and investment decisions, and improve family communication.
Sharpening advice firms for a competitive edge
Dean Lombardo, Founder & Principal of Effortless Engagement explains how re-engineering adviser processes could lead to better client outcomes and suggests that the best businesses are already using AI and other tools to enhance their client engagement and value proposition.
Download now
Complete the form to download your complimentary copy of the 2024 AdviceTech report on Building a culture for digital transformation
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