**BREAKING: FTV Capital Partner Warns Wealth Management Tech Crisis Damaging Client Experience**
Wealth management platforms are failing advisors and clients due to severely outdated backend infrastructure, according to Richard Garman, Founding Partner at FTV Capital, speaking at the Communify Intelligence Experience. While front-end interfaces appear modern, Garman warns the underlying connective systems remain “clunky” and legacy-based, creating significant limitations for user experience across the sector.
The technology bottleneck is causing mounting frustration for both financial advisors and their clients as data integration issues hamper service delivery. Garman stressed that wealth firms relying solely on internal development teams must embrace external partnerships immediately, calling it “the only remaining option” for struggling companies. The deteriorating technology stack poses operational risks for advisory firms and could drive client attrition as expectations for digital financial services continue rising.
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FXnCO Insight
** Wealth management firms clinging to legacy systems face imminent competitive disadvantage—expect accelerated M&A activity and technology partnership announcements as the sector races to modernize or risk losing both advisors and assets under management.
Source: Finextra