Technology Strategies in Wealth Management: Build, Buy, or Bolt-On?
Tuesday, 24 September 2024, 09:00
Technology Strategies Explored
In the competitive landscape of wealth management, firms are constantly faced with the pivotal decision of whether to build, buy, or bolt-on technological solutions. Each strategy has its unique challenges and advantages. Below are key considerations:
- Build: Developing in-house technology can offer tailored solutions but requires significant investment.
- Buy: Acquiring established tech solutions is a quick way to integrate modern tools.
- Bolt-On: This strategy allows firms to enhance existing systems with new functionalities.
Best Practices for Growth
Implementing best practices in practice management can make the difference between success and stagnation. Advisory firms should strategically assess their needs and market trends to decide their path forward.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.