Respondents rated their firms’ technology use according to their categorization as Innovators, Operators, or Laggards. Among Innovators, 82% rated their firms with an “A”, saying it embraces technology and maximizes its technology investments, or “B”, agreeing that it is committed to technology and uses it effectively, down from 86% in 2023. Operators showed increased positivity, with 52% giving top grades, up from 46%. Only 5% of Laggards gave high marks, consistent with last year.

The perceived importance of technology for growth remained stable, with 89% of Innovators, 71% of Operators, and 69% of Laggards seeing it as crucial. New in 2024, “”user training and adoption”” emerged as a key challenge. Technology supports financial planning, portfolio management, and compliance, with a noted decline in marketing tools and a rise in estate planning tech. Business intelligence software is used by 30% of respondents.