First, congratulations to all RIA firms for your hard work and success over the last two years. It has led to some great results. Study participants saw tremendous growth in 2021.
The vast majority of firms we surveyed use digital workflows and continue to adopt digital capabilities. This leap in digital adoption since the pandemic began has led to major productivity and efficiency gains for all firms.
Top performing firms are more often high adopters of digital tools and standardized workflows.
This led to tangible efficiency gains with these firms spending nearly 20% less per client on operations and administration.
A huge thank you to each and every firm who participated in the study. And even if you didn't participate, please take a look at our website because we will share a wealth of information about where our industry stands and how we're evolving.