Financial advisors and wealth managers are always looking ahead. You’ve got an eye on your client’s portfolio forecasts and macro trends that could impact markets.

But don’t forget to look ahead for your firm, too. Staying alert to the latest industry trends can help you unearth growth opportunities and remain at the leading edge of the field.

That’s why we partnered with Logica Research to conduct the inaugural Advisor Wealthtech Survey. We wanted to hear firsthand from advisors about the fintech trends they’re watching in 2023.

Read on to explore the top fintech trends, where advisors are focusing their technology investments, and how you can leverage tech for growth.


Client-Facing Technology Will Power Growth

Of all the fintech trends, client-facing technology is the one advisors are watching most closely. Survey respondents expect client-facing technology to drive growth, and it’s the tech area where they plan to invest the most in 2023.

What exactly does this client-facing technology include? Advisors are looking to client portals and collaboration tools to facilitate planning and communication.

When asked about specific areas of technological investment for 2023, advisors said these would be their top five focus points:

  • Client-facing technology
  • Customer service technology to allow for faster transactions and improved convenience
  • Financial planning technology
  • Client engagement
  • Enhanced digital communication channels and client engagement tools



Looking for more educational resources? Grow your business and meet CE requirements with our free learning platform.

Learn to grow with Orion Advisor Academy.


Personalization Is Essential

Why are advisors so laser-focused on client-facing fintech for 2023? It’s because they understand the importance of personalizing the client experience.

Across industries, personalization is a differentiator. McKinsey’s research has found that personalization plays a significant role in client satisfaction, and it is the number-three factor for clients in selecting an advisor.

With a statistic like that, it’s no surprise that advisors are scurrying to invest in fintech solutions that make personalization easier.

Investing in seamless communication channels is just one way advisors are thinking about personalization. Twenty-three percent of respondents to our Advisor Wealthtech Survey said they want to use tech to make it easier to communicate with clients when, where, and how they want.

Client portals and other digital communication channels are especially vital when connecting with younger investors. Millennials are famously averse to phone calls, so advisors must find different ways to stay in touch. And with millennials and Gen Zers representing 47% of the US population, advisors can’t afford to ignore this growing reservoir of wealth.

If you haven’t invested in a digital-first approach to client communication, you could alienate investors in these key demographics!


Improved Client Data Usage and Management

“Data is the new oil” has become a truism of the 21st Century. And it’s true; there’s incredible possibility in unrefined data. Businesses that distill it for their purposes can unlock growth opportunities.

Fortunately for those of us in financial services, data is plentiful. And advisors see the potential: 71% of respondents to our Advisor Wealthtech Survey feel that better client data usage and management could help them power the personalization they seek.

Meanwhile, 55% see data as a resource they can use behind the scenes to get a holistic view of a client’s financial life.

Indeed, there are many opportunities across the front, middle, and back office to get even more out of data. One of the 2023 fintech trends will be investing in technology that refines this valuable resource.


The Robots Are Disrupting Our Field

Artificial intelligence (AI) might be the top tech trend across every single industry in 2023, so perhaps unsurprisingly, 23% of advisors in our survey said they see AI and machine learning as the most disruptive tech trend facing wealth management over the next three years.

The good news here is that, for many knowledge workers, AI’s disruption may be a welcome advancement. There are dozens of ways in which AI may help improve advisors’ workflows and firm performance across various functions. 

We’ve already identified use cases for ChatGPT, the leading generative AI writing tool, that can boost advisor productivity. As we watch 2023 unfold, it will be interesting to see how other AI fintech trends emerge to help advisors maximize their time and effort.


Spending to Save

Inflation and rising operational costs are another set of macro trends touching wealth management and financial advisory. Sixty percent of advisors we surveyed say they expect their operational expenses to increase in 2023.

While investing in tech may be a part of those rising upfront costs, our survey respondents also see the long-term benefits of investing in leading-edge tech.

Advisors believe that investing in tech can help save time and money in the long run, and they identify operational improvements as a space where these investments could make the most significant impact. 

Sixty percent of respondents say investing in tech could save time in operations, and 63% say fintech investments may help save money in that same area.


No Need to Reinvent the Fintech Wheel

Many firms have already invested heavily in fintech solutions in recent years. Indeed, 60% of our respondents say they have most of the tech they need at their firm; 10% say they have all the tech solutions they need.

Still, advisors note that it can sometimes be a struggle to make the most of their current tech. On average, respondents report that their firm only uses 70% of the tech stack it owns.

So one of the fintech trends for 2023 will be improving upon the tech you already have. There’s no need to start from scratch, but investing in integrations and solutions that seamlessly connect will help advisors use more of the remaining 30% of their tech stack.

These integrations don’t just help your internal fintech tools work better together; they also create cohesion between your advisor-facing and client-facing tech. Orion Stacks, a brand-new offering from Orion, eliminates tech silos and helps unify the Orion tech you already have while incorporating even more capabilities.

Big changes are on the horizon for 2023. But, as is always true in times of disruption, these massive shifts also present tremendous opportunities. Now is the time to tap into leading 2023 fintech trends to position your firm at the forefront of the industry.

Want to learn more about how Orion Stacks can help you create a fully-integrated, seamless tech experience? Get an exclusive look at Orion Stacks today.



One integrated UX. One agreement. All the power of Orion. Introducing Orion Stacks.

Learn More