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Technology Tools for Today's High-Margin Practice: How Client-Centered Financial Advisors Can Cut Paperwork, Overhead, and Wasted Hours by Joel P. Bruckenstein, David J. Drucker

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Chapter 13

ROI—The Holy Grail of the Technology Purchase Decision

Timothy D. Welsh, CFP

President and Founder, Nexus Strategy, LLC

For many advisors, the foundational principal for evaluating any technology is what return on investment (ROI) they will receive by purchasing a new system, adopting an outsourced platform, streamlining a workflow, or incorporating any new business enhancing device or tool.

However, the ability to actually quantify, specifically, what those returns are in terms of real-time savings, lower hard dollar costs, increased capacity, improved service levels, and scalability has been somewhat of a squishy process.

In fact, many advisors express frustration at what was promised to them by smooth talking vendors versus what ...

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