While technology helps with practice efficiency and profitability, advisors acknowledge that clients are the prime beneficiaries of technology improvements. Advisers at the forefront of technology investment — known as tech accelerators — cite "improved outcome for clients" as their top consideration. They invest more in technology and are growing faster than those who don't.

Although there has been much media coverage in recent years about the decline of referral marketing as the primary source of growth for financial advisory practices, referrals are critical for ensuring the success of independent advisors’ businesses.

Just as independent financial advisors need to provide clients with the personalized experience they want in order to keep their business, advisors have to engage with prospects on the latter’s terms in order to convert them to clients.