Advice industry lacking great technology businesses
“It’s no wonder businesses are confused in this space – our survey found that there are over 200 providers which range from advice software through to regtech providers. “Businesses are spending on average around about $20,000 per adviser on technology alone and this is just for software, not the hardware component.” Research from the survey showed that adviser businesses saw an overall spend that ranged from about 3.5% to 5%, as a percentage of revenue. “We’re seeing a convergence of advice and technology – we have a lot of great advice businesses, but not so many great techn...
Source: moneymanagement.com.au