Tech Pressure Builds On Wealth Management Firms – Survey

New industry report from Chelmer and Suite2Go reveals growing demand for simplification, automation and client engagement in 2025

Australian wealth management firms are facing growing pressure to consolidate systems, streamline operations and deliver a consistent, client-centric experience, according to a new report released today by Chelmer Wealth Management Solutions and its Australian partners Suite2Go.

The 2025 Wealth Management Technology Report captures insights from advisers and wealth managers across Australia, revealing a sector grappling with platform and complexity – caused by the need to run client investments across multiple systems – and growing client expectations. The survey points to a clear trend: while most firms still operate across several platforms, there is an accelerating shift towards simplified, integrated technology solutions.

Chelmer CEO Alin Ungureanu says the findings confirm what the firm has been hearing from clients: the complexity of operating across fragmented platforms is unsustainable.

“Advisers are telling us they want to work across multiple platforms, but with a single, consolidated view for operations, reporting and advice delivery,” Ungureanu says. “It’s not just about technology anymore. It’s about achieving efficiency, scale and better outcomes for clients.”

According to the survey, 63% of respondents still use between three and five platforms, but single-platform usage has increased significantly, up 23 percentage points from the previous year.

Despite this, integration remains a major challenge. Over half of the respondents said they were dissatisfied with how well their systems integrate with other tools and platforms. Only nine percent reported high satisfaction.

“Multiple platforms create operational friction and higher costs,” says Ungureanu. “It’s like trying to run several calendars across different devices – none of them sync, and important things get missed. What firms need is one unified calendar on their primary device that brings everything together clearly. That’s what Chelmer focuses on – distilling complexity into clarity.”

The report also highlights dissatisfaction with how well platforms integrate with other wealth tools, along with concerns about the limitations of legacy systems.

Ungureanu believes that’s beginning to change—but only when clients push hard. “Advisers having the clients’ whole of wealth central to their service offer and the pressure to streamline their business processes so they can spend more time with their clients is shifting the industry to address how they can integrate with a solution like ours.”

Managed accounts continue to gain traction, with nearly 60% of respondents now using them. Respondents cited scale, transparency, and time-saving benefits as key drivers.

The report cites a recent State Street study, noting that advisers using managed accounts save nearly 24 hours per week; time that can be redirected to client relationships and growth.

Chelmer’s response has been to invest in AI-assisted tools and client portals that reduce manual processes and improve visibility across entire portfolios. Features such as configurable compliance rules, real-time portfolio rebalancing and integrated reporting support both advisers and their clients in achieving investment outcomes more efficiently.

“Our mantra is clear: we make wealth creation simple,” Ungureanu says. “That means giving advisory firms the tools to focus on clients, not systems. We build platforms that connect with others, streamline workflows, and scale with the business.”

The report also shows rising demand for automation in compliance, recordkeeping, advice reviews and reporting. Client expectations for transparency and on-demand access are reshaping adviser technology strategies. Firms that fail to respond, risk being left behind as digital-first competitors capture market share.

Ungureanu says Chelmer is well-positioned to support this transition. “We’ve built a platform that integrates with almost any system, as long as there’s a willingness. We salute the platforms that are open and cooperative – and we continue working with advisory firms to lead the change.”

The 2025 Wealth Management Technology Report is based on a national survey of advisers and wealth managers. It builds on Chelmer’s 2023 report and provides a forward-looking view of the trends shaping the future of advice delivery in Australia.

For further information or to download the full report, visit chelmer.co or www.suit2go.com

About Chelmer

Chelmer is a trusted wealth technology specialist delivering robust, tailored software to financial services firms across Australasia. With more than 30 years of experience and over USD $70 billion in assets managed through its platform, Chelmer empowers advisers and wealth managers to scale efficiently, automate operations, and deliver better client outcomes. Its flagship platform, Myriad, supports integration, client engagement, managed accounts and compliance, helping firms adapt to the changing demands of modern wealth management.

About Suite2Go

Suite2Go partners with leading global technology providers to deliver high-quality fintech solutions to the Australian market. Specialising in go-to-market strategy, solution feedback and ongoing support, Suite2Go helps financial services firms adopt the right tools to grow their businesses more efficiently. Working closely with advisory practices, licensees and platform providers, Suite2Go brings deep industry insight and hands-on expertise to every client engagement.

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