Broadridge, a New York-listed firm, makes the case for "data harmonization" in its new report on how technology is affecting the wealth management sector.

A study by Broadridge Financial Solutions, which provides tech solutions to financial firms, finds that almost half of the 500 industry figures it has polled say legacy tech makes their businesses vulnerable.

Almost half (41 per cent) of executives think that their technology strategy is not moving fast enough at its current rate and 46 per cent think legacy tech is hurting resiliency.

The findings come in the New York-listed firm’s fifth annual Digital Transformation & Next-Gen Technology Study.

Today, when the introduction of a new AI model has the power to send shockwaves through financial markets, bitcoin ETFs are routinely turning over billions in average daily volume, and cybersecurity has become a global mandate. Financial services firms can no longer afford half-measures or indecision when it comes to data harmonization or addressing legacy technology, Broadridge said. (Broadridge has spoken to this publication about the use cases of AI in the sector, and other topics.)

While AI has tended to dominate much of the wealthtech conversation in recent months, digitalization of the industry continues on a number of fronts, from achieving efficiencies in back-office functions through development of front-office client reporting. (This publication produces an annual Technology and Operations report; see here for our latest edition.)

Sweet harmony?
More than half (58 per cent) of financial services technology and operations executives globally identified data harmonization as the ideal driver for maximizing their return on investment with 60 per cent said they are confident their data quality won't cause transformation challenges. 

In other findings, 72 per cent of those questioned are making moderate to large investments in GenAI this year, up from 40 per cent in 2024. 

More than two-thirds (68 per cent) think GenAI will have the greatest impact on employee productivity and 35 per cent expect to start seeing return on investment from generative AI within six months. Some 67 per cent said they personally use GenAI most for investment or market research.

Digital assets go mainstream
The Broadridge survey also showed that 71 per cent of firms are making “major investments” in blockchain and distributed ledger technologies in 2025, up from 59 per cent doing so in 2024.

Some 64 per cent are making big investments in cryptocurrency, up from 51 per cent in 2024. Almost half (47 per cent) think DLT is enabling the development of new capital markets ecosystem.