Beyond the Tech Stack Checklist: Why RIA Benchmarking is Crucial for Growth

Many Registered Investment Advisor (RIA) firms operate under the assumption that simply possessing a suite of technological tools equates to having a strategically optimized technology stack. The common refrain, "I already know my tech stack," often masks a critical gap in understanding: knowing what you use is fundamentally different from knowing how your technology deployment compares to that of your peers and, more importantly, how it impacts your firm's efficiency and growth potential.

Golden Door Asset, an institutional WealthTech research firm, has conducted extensive benchmarking studies of hundreds of RIA technology stacks. Our research reveals a stark reality: while technology adoption is widespread, strategic technology integration remains a significant challenge. In this article, we'll delve into why understanding your firm's position relative to the broader RIA landscape is paramount, and how benchmarking can unlock substantial benefits.

The Illusion of Technological Sufficiency

The initial excitement of adopting new software often overshadows the more arduous task of seamless integration. Many firms adopt a “best-of-breed” approach, selecting individual point solutions that address specific needs without a cohesive architectural vision. This results in a fragmented ecosystem characterized by:

Data Silos: Disparate systems struggle to communicate, leading to fragmented client data and an incomplete view of the client lifecycle.
Manual Reconciliation: Advisors and staff spend countless hours manually reconciling data between systems, eroding productivity and increasing the risk of errors.
Limited Scalability: The complexity of managing multiple disconnected systems hinders the firm's ability to scale efficiently.

Consider the hypothetical scenario of an RIA using Salesforce for CRM, Orion for portfolio management, and eMoney Advisor for financial planning. While each platform offers robust functionality, the lack of deep integration can create significant friction. Advisors may have to manually input client data across platforms, leading to inconsistencies and wasted time. This not only reduces efficiency but also creates a less-than-ideal client experience.

The issue, therefore, isn't the presence of technology, but its effectiveness. Without a benchmark for comparison, it's impossible to gauge whether your firm is extracting maximum value from its technology investments.

The Power of Peer Benchmarking: Unveiling Hidden Opportunities

Benchmarking provides a crucial external perspective, allowing you to assess your technology stack against the performance and practices of your peers. This process involves comparing your firm's technology utilization, integration strategies, and operational efficiency metrics against those of similar firms.

Here's why benchmarking is essential:

Identifying Gaps and Inefficiencies: Benchmarking exposes areas where your firm lags behind its peers, highlighting opportunities for improvement. Are you underutilizing key features within your existing platforms? Are you spending more time on manual tasks than comparable firms?
Validating Investment Decisions: Benchmarking provides data-driven insights to support future technology investments. Instead of relying on anecdotal evidence or vendor hype, you can make informed decisions based on the proven success of similar firms.
Optimizing Resource Allocation: By understanding how your peers are allocating resources to technology and operations, you can optimize your own budget and staffing decisions. Are you overspending on certain tools while neglecting others?
Gaining a Competitive Edge: Firms with optimized technology stacks are better positioned to attract and retain clients, improve advisor productivity, and scale their business. Benchmarking helps you identify strategies to stay ahead of the competition.

According to Golden Door Asset's 2026 Benchmark Report, the median number of WealthTech tools used by RIAs is 11. However, simply having a large number of tools doesn't guarantee success. The key is to ensure that these tools are seamlessly integrated and effectively utilized. Benchmarking allows you to assess your firm's technology maturity level and identify areas for improvement.

Key Benchmarking Metrics for RIAs

To effectively benchmark your technology stack, focus on these key metrics:

Technology Spend as a Percentage of Revenue: This metric provides a high-level overview of your firm's investment in technology. Compare your spending to that of similar-sized firms to identify potential overspending or underinvestment.
Advisor-to-Staff Ratio: A higher advisor-to-staff ratio can indicate greater operational efficiency, potentially driven by effective technology utilization.
Client Acquisition Cost: Lower client acquisition costs suggest more efficient marketing and sales processes, which can be enabled by technology.
Client Retention Rate: Higher client retention rates can be a sign of a superior client experience, which can be enhanced by personalized technology solutions.
Revenue per Advisor: Increased revenue per advisor often signifies increased productivity, which can be directly correlated with technology adoption and integration.

By tracking and comparing these metrics, you can gain a clear understanding of your firm's relative performance and identify areas where technology can drive improvement.

Actionable Steps: Implementing a Benchmarking Strategy

Implementing a benchmarking strategy doesn't have to be overwhelming. Here's a step-by-step approach:

Define Your Objectives: Clearly articulate what you hope to achieve through benchmarking. Are you looking to reduce operational costs, improve client experience, or accelerate growth?
Identify Relevant Peers: Focus on benchmarking against firms of similar size, business model, and target clientele. This will ensure that the comparisons are meaningful and relevant.
Gather Data: Collect data on your firm's technology stack, operational metrics, and financial performance. This may involve conducting internal surveys, analyzing financial reports, and reviewing client data.
Compare and Analyze: Compare your data against benchmark data from reputable sources, such as Golden Door Asset's Benchmark Report. Identify areas where your firm is performing above or below average.
Develop an Action Plan: Based on your analysis, develop a concrete action plan to address any identified gaps or inefficiencies. This may involve implementing new technology solutions, optimizing existing workflows, or providing additional training to your staff.
Monitor and Evaluate: Continuously monitor your progress and evaluate the effectiveness of your action plan. Adjust your strategy as needed to ensure that you are achieving your desired outcomes.

Case Study: "Integrated Ambition, Fragmented Reality"

To illustrate the value of benchmarking, let's revisit a representative firm archetype from the Golden Door Asset 2026 Benchmark Report: "Integrated Ambition, Fragmented Reality."

This $750M AUM RIA with 15 advisors recognized the importance of technology but struggled with integration. Their tech stack included Salesforce, Orion, eMoney Advisor, and several other point solutions. While each platform offered valuable functionality, the lack of seamless integration resulted in data silos, manual reconciliation, and inefficiencies.

By benchmarking their technology stack against similar firms, they discovered that they were spending more on technology than their peers but achieving lower levels of operational efficiency. They identified several key areas for improvement:

CRM Optimization: They realized that they were underutilizing Salesforce's capabilities for client segmentation and marketing automation.
Data Integration: They invested in integration tools to connect their various platforms, eliminating manual data entry and improving data accuracy.
Workflow Automation: They automated several key workflows, such as client onboarding and reporting, freeing up advisors to focus on client relationships.

As a result of these changes, the firm was able to reduce operational costs, improve advisor productivity, and enhance the client experience.

Don't Just Know Your Tech Stack, Optimize It

In today's competitive wealth management landscape, simply knowing your tech stack is no longer sufficient. To thrive, RIAs must actively benchmark their technology against their peers and continuously strive to optimize their operations.

By embracing a data-driven approach to technology management, you can unlock significant benefits, including:

Improved Efficiency: Streamline workflows and reduce manual tasks, freeing up valuable time for advisors and staff.
Enhanced Client Experience: Provide personalized and seamless service, strengthening client relationships and driving retention.
Accelerated Growth: Attract new clients and expand your business more efficiently.
Reduced Risk: Ensure compliance and protect client data with robust security measures.

Stop leaving potential gains on the table. Begin benchmarking your technology stack today and unlock the full potential of your RIA firm.

Call to Action

Ready to unlock your firm's full potential? Contact Golden Door Asset today for a personalized technology benchmarking assessment. Discover how your technology stack compares to your peers and identify actionable strategies to improve efficiency, enhance client experience, and drive growth. Don't just know your tech stack – optimize it.

Take the Next Step

Want to see how your firm compares? This analysis is part of the 2026 WealthTech Benchmark Report, the most comprehensive study of RIA technology adoption.

📊 Read the Full Benchmark Report — Proprietary data on technology adoption, maturity tiers, and strategic roadmaps
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Beyond the Tech Stack Checklist: Why RIA Benchmarking is Crucial for Growth