Canadian Advisors Demand More Tech, But Firms Lag in Delivery
Event summary
- 43% of Canadian advisors rank tech enablement as their top priority, but 59% rate dealer support for AI and emerging tech as fair or below.
- 48% of advisors are dissatisfied with the level of support when new technology is rolled out.
- IG Wealth Management has accelerated its tech strategy, including adopting Conquest Planning's AI-powered financial planning platform in 2020.
- 91% of advisors believe AI is a powerful tool, but 31% are concerned about compliance implications.
The big picture
The study highlights a growing divide between advisor expectations and dealer capabilities in the Canadian wealth management sector. As advisors increasingly rely on technology to enhance efficiency and client service, firms like IG Wealth Management are under pressure to accelerate their digital transformation efforts. With $163 billion in assets under management, IG's ability to address these gaps could set a precedent for the industry.
What we're watching
- Tech Investment Pace
- Whether IG Wealth Management can sustain its technology investment pace to meet advisor demands.
- AI Adoption
- How the balance between AI integration and maintaining human advisor-client relationships will evolve.
- Regulatory Compliance
- The impact of compliance concerns on the widespread adoption of AI-powered technologies.