Before You Buy That New Tech, Read This.

It’s conference season. No matter what coast you’re on, what city you’re in, or what hotel ballroom you’re walking into, there’s one thing you can bet on: advisors and fintech companies are dreaming about the future.

They’re talking what-ifs, possibilities, and the next big thing. The energy is high, the decks are full of clip art icons, the color blue, and that one stock photo guy meeting with clients. The demos are available at your leisure.

It’s an exciting time.

And yet, in the race toward what’s new, most firms are overlooking something far more valuable: adoption.

How Messy is Your Tech Stack?

Let’s be honest. Advisor technology stacks aren’t perfect. There is always some overlap, some mismatch, some pieces that don’t quite work or integrate well.

Some stacks are neatly organized, optimized – they have a place for everything and everything in its place. But it’s probably more likely that you and your team have learned to live inside the cluttered, imperfect, and expensive tools that supplement your processes.

Firms spend millions on tech, investment solutions, cash management platforms, banking and lending integrations, estate planning software… and yet, very few have certainty about how their dollars spent are impacting efficiency or client satisfaction.

So, let’s pause for a second before all of the technology promises you heard in a hotel ballroom lead to a new shiny tool in the mix.

Before You Buy, Answer This:

Before you evaluate new technology, here are a few things to consider:

1️⃣ What do we do for clients today?

Let’s start by charting your service offerings by client type over time. Start with the very top of your marketing funnel and go through a client’s passing or transition away from your team. Underneath each service, slate the software that supports that step of the client journey. Look for overlaps or places where you could use a new or different solution. Try to be brutally honest and thoughtfully thorough. What do we think we deliver vs. what do we want to want to deliver?

Minimally, you’ll walk away from this exercise with a lot more clarity about your processes, and maximally, you’ll be able to set a full strategic plan for how you want to grow and mature as a firm.

2️⃣ What are the unit economics of your tools?

Now that you are able to see all of the tools and where they impact your clients and team, it’s time to think at a higher level. Can you pinpoint revenue generation for the tools? What does it cost you to maintain the tool? What’s the adoption rate? See if you can calculate what it’s costing you, what’ it’s earning you and how prevalent the tool is used. You’ll get a lot of clarity about gaps, overlaps and impact.

3️⃣ If we switch solutions, what’s the financial impact?

Once you know where your at and where you want to be, now all you need to do is figure out how to get there. If your tools aren’t covering your processes well enough, it’s time to see if they have features you can tap into or if you need something new. This is the part that gets interesting. Outside of all the standard questions, be sure to ask:

• How quickly can my advisors adopt it?
• What kind of data can they give you about how it improves client experience?
• Can the tech firm give you insight into ways their product moves your business forward?

You know that new isn’t always better.

A smarter, more data-driven approach starts with understanding how the tech you already have is performing before you ever consider buying something new and asking the right questions at the very beginning of your review process.

Adoption Over Everything

While firms everywhere are looking for a way to differentiate, most of us are looking in the same places.

Estate planning is booming.

Private investments are on the rise.

There’s a new AI-powered tool launching every day.

And I really am excited about all of the new possibilities that are available now. But new estate planning software doesn’t change behaviors or processes. Will the new tool help your advisors do more estate planning? How seamlessly will the tool integrate a new investment tool into their process?

Adoption isn’t about what’s possible. It tells you what’s real.

The firms that win aren’t the ones who buy the most tech. They’re the ones who track, measure, and optimize adoption—using data to guide decisions, not gut feelings after flashy demos.

Build a Smarter Business (And Stop Wasting Money)

Before you sign that new contract, take a beat. Slow down. Look at the data.

• What’s actually being used?

• Where are the gaps?

• How can you optimize first, then change where needed?

If you’re not sure how to answer those questions, let’s talk. My team can help you map out a data-driven adoption strategy so you’re investing in what actually works, not just what’s new.

Enjoy the conferences.

Stay inspired.

But more importantly—stay smart.