Integrated Technology Saves Advisors Five Weeks Of Work A Year, Survey Says Hot

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This particular research was commissioned by an integrated advisor technology firm, so its aim is pretty clear. But the specifics Aite uncovered are pretty breathtaking:


* Barely 50% of all the applications advisors use every day talk to each other.


* Principals spend two full days a week on operational tasks if their software is not integrated. With an integrated platform, the grunt work is cut in half.


* Support staff spend three times as much time on data entry and other operational tasks. That makes sense, because they're on the operational side of the business -- but they could still be a lot more efficient.


* Integrating the technology saves an average of five weeks of work per employee per year that could otherwise be spent prospecting, talking to existing clients, or other mission-critical tasks.


* Firms with between $100 million and $500 million in AUM save an average of 114 worker days per year.




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