Financial Planning’s 2012 Tech Survey is now available and provides insight into new and different ways advisors are using technology in their businesses.
This survey is claimed to be the most scientifically accurate survey the magazine has ever conducted because of single-use links to readers who took the survey.
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Some of the highlights include advisors’ increased willingness to make use of new technologies in their day-to-day work flow. Only 4% of advisors expect to decrease their technology budgets for 2013; 36% plan to increase it.
Revenues dedicated for training on new technologies ranged from 1% to 5% by 37% of respondents to from 6% to 10% of annual revenues by 32% of respondents.
Independent RIAs prefer the iPhone while registered reps and employees of broker-dealers prefer the Blackberry.
Of those employing CRM technology, 36% of independent RIAs said they reaped an above-average return on their investment.
Use and results of portfolio management software and services was substantially varied while MoneyGuide Pro remained the dominant financial planning software.
still significantly outranks other social media websites because of its perception as a business site. Only 30% of advisors use social media daily while around 36% us it once per month or less.