Despite acknowledging it as a potential game-changer for their business practices, client retention and prospecting, a majority of brokerages report minimal spending increases on technology this year — and plan the same for 2016.
More than half (51%) of advisers responding to EBA’s second annual technology survey say they’ve spent less than $50,000 on technology in 2015. Only 5.6% expect that number to increase by more than 20% in 2016, while nearly 3 in 10 (27.3%) plan no changes in their technology spending for next year.
