The WealthStack survey reveals a gradual shift in how firms approach technology. Innovators, who prioritize technology to differentiate and enhance client experience, have grown from 28% to 33%. Meanwhile, the majority, (57%), identify as Operators, focusing on operational efficiency, and Laggards, those not prioritizing technology, have declined to 10%.

Top business objectives remain consistent: adding new clients, deepening client relationships, and improving client experience. Innovators and Operators show a wider range of objectives, while Laggards focus on these top three.

Revenue growth ranks highest in technology needs, followed by cost reduction and service enhancements. Efficiency and cost reduction remain primary aims for technology investments, though preferences are now more evenly distributed across various objectives.