The survey took the opinions of more than 50 RIAs and financial advisors participating in a recent IAS webinar.
The survey revealed that 75% of the respondents want the technology vendors to primarily focus on ways to create integration between the systems on their R&D, whereas only 20% cited the focus to be on development of mobile and tablet applications and 6% cited client portal development.
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Further, 34% opined that technology is the biggest issue for RIA firms today, followed by 28% and 26% citing staffing and compliance issue respectively and 13% citing competition.
IAS CEO John Philpott remarked: "The survey results echo that financial planners absolutely need access to integrated technology that allows the client to be the focus of the business, instead of technology management."
As to the strategy adopted to expand business in 2012, 67% said they would resort to marketing, 15% to explore merger and acquisition activity, whereas 11% said they would get more involved in social media.
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