Objectway was mentioned again by Gartner, the world’s leading information technology research and advisory company, in the March 2021 edition of the report Integrate Advisor-Supporting Wealth Management Technologies Into Digital Platforms to Accelerate Adoption¹. Objectway was acknowledged as a representative vendor of advisor technologies for financial planning, portfolio management, client collaboration tools, and as an all-in-one wealth platform.

Objectway was also included in two new categories of the Gartner report, such as Automated Onboarding/Customer Life Cycle Management and Proposal and Risk Tolerance Solutions.

According to Gartner, “Client onboarding and life cycle management continue to be areas of both focus and struggle for wealth management firms. Although firms have been reporting that expanding automated client onboarding has been a priority for years now, Gartner’s most recent survey of financial advisors indicates that not much progress has been made. In fact, only 26% of surveyed advisors indicated that automated client onboarding technology was available at their firm, and an even smaller percentage (14%) were actually using the solution. Although usage is low, effectiveness ratings are high, with 87% of advisors ranking the technology as effective.”

Further, Gartner notes, “Aligning suggestions with clients’ risk tolerance and appetites is an imperative. Some firms will also use their financial planning solutions to suggest appropriate asset classes for portfolios to align with goals and combine with portfolio management to show actual securities and products that will align with needs. The latter example will become more prevalent as firms shift from a product focus to one of holistic advice delivery as simple asset allocation becomes commoditised. Advisors will align portfolio construction with multiple goals and, thus, potentially complex sleeves of investments designed on unified managed account platforms with multiple investment and account types. Before prospects become clients, however, advisors need to demonstrate the solutions they are suggesting, and proposal and risk assessment tools, whether packed or separate, will play a role in that.”

Objectway is seeing an acceleration in the roll out of digital tools for advisors’ desktop, in line with Gartner’s findings, but one of the biggest barriers to increase advisors’ effectiveness remains the factual adoption of these applications.