The wealth management industry is at a crossroads. While technology has unlocked incredible possibilities, many firms still find themselves tangled in a web of disconnected solutions, manual processes, and legacy data infrastructure. Advisors, wealth managers, and fintech firms striving to provide a seamless, data-driven client experience often face a common frustration, the “swivel chair syndrome.” This phenomenon arises when an advisor is constantly switching between disparate systems to find information or re-enter data, ultimately draining precious time and resources.

Swivel Chair Syndrome and Fragmented Tech Stacks

Today’s advisors are burdened by fragmented systems that require constant switching between applications and manual data reconciliation. The rapid expansion of point solutions, each addressing specific advisor needs, has unintentionally created a larger issue: poor data integration and inefficient workflows. Recent industry surveys reveal that less than 10% of advisors feel completely satisfied with their tech stack, with the majority citing disconnected systems as a major obstacle.

Without a single system, advisors often resort to time-consuming manual work to bridge the gaps between financial planning tools, CRM platforms, portfolio management software, and custodial systems. This lack of integration slows decision-making and introduces the potential for data inconsistencies, ultimately impacting the advisor’s ability to provide timely and personalized advice.

The Current Technology Stack Presents Major Challenges

Fragmented Integrations and Limited Data Flow: Many advisory firms struggle with technology integrations that fail to provide a true bi-directional data exchange between systems. In many cases, integrations either don’t exist or require extensive effort from advisors to configure. Given time constraints, these issues often go unaddressed, leading to disconnected workflows and operational inefficiencies.

Manual Process for Aligning Financial Plans and Actual Outcomes: Financial planning tools establish an investor’s roadmap, while performance reporting solutions track actual investment outcomes. However, aligning these two data sets remains a challenge. Many existing solutions lack seamless connectivity, forcing advisors to manually reconcile financial plans with real-world investment data to generate insights and recommendations.

Dependence on Legacy Technology: Many wealth management firms still rely on outdated, fragmented technology. Legacy systems often lack flexibility, require extensive workarounds, and are not built for real-time data connectivity. This creates operational bottlenecks, slows down decision-making, and limits the ability to provide a seamless, digital-first client experience.

The Future of WealthTech: Data at the Core

To meet the evolving needs of clients and deliver a seamless, personalized digital experience, the wealthtech stack must undergo a transformation. Modernization of data management is at the crux of this transformation.

At BridgeFT, we are pioneering a modern approach to wealth infrastructure through our WealthTech-as-a-Service (WtaaS) platform. By providing a cloud-native, API-first ecosystem, we enable wealth management firms, fintech companies, and RIAs to build integrated and scalable solutions. Our platform eliminates legacy inefficiencies, allowing firms to own and control their data while seamlessly connecting their technology stack.

The future of wealth management lies in a connected, efficient, and intelligent ecosystem. By adopting modern WealthTech infrastructure, firms can eliminate the barriers created by disconnected solutions, ultimately enhancing the client experience and driving business growth.