August by the Numbers: An Update on the Ezra Group WealthTech Integration Score

It’s been an exhilarating journey as we mark the one-year anniversary of the launch of Ezra Group WealthTech Integration Scores!

Over the past year, our innovative research platform has reshaped the landscape of wealth management technology, empowering professionals to make more informed decisions and driving increased transparency of integration capabilities. As we celebrate this milestone, we reflect on the incredible achievements and the transformative impact that the Integration Scores have had on the industry.

Since its inception, the Ezra Group WealthTech Integration Scores have provided tremendous insights across the industry. The scores have served as a compass, guiding both wealth management firms and software vendors towards optimal technology solutions that seamlessly align with their needs.

The platform’s comprehensive analysis and straightforward methodology have eliminated the guesswork from evaluating an application’s integrations, enabling professionals to confidently select and integrate the best tools that fit their environment. In the past year, we have heard countless success stories of firms that not only enhanced their operational efficiency by discovering new integrations but also deepened their vendor relationships, thanks to the enhanced visibility provided by the integration scores.

The impact of Ezra Group’s WealthTech Integration Scores has extended far beyond mere numbers and metrics. It has fostered a community of collaboration, innovation, and growth within the wealth management ecosystem. As we look ahead to the future, we are excited to build upon the foundation we’ve laid in the past year.

With continued dedication to refining our methodology and expanding our coverage, we are committed to empowering more RIAs, broker-dealers and their vendors to increase growth through better integrated software.

This anniversary is not just a celebration of the past, but a testament to our ongoing commitment to shaping a brighter, technologically-empowered future for the entire wealth management industry.

Since the WealthTech Integration Scores were launched last year, we have been steadily updating our database of vendors and products as they are added, removed and changed on the Kitces Advisortech Map, created in partnership with Ezra Group. 

This month, nine new products were added to the map. Each one was evaluated by our research team and the data was fed into our algorithm to generate its integration score.  You can see them on the Integration Score page on our website.

As part of our ongoing process to improve the accuracy of our methodology, we recently made some adjustments to the underlying scoring criteria:

 

  • Depth – We modified this to include all vendor integrations rather than only those to key applications. We also increased the scoring benefit of any integrations with a depth of 4 or 5.  The end result was an increase in scores for products that had fewer, but more robust integrations (level 4 or 5). 
  • Breadth – We moved the impact of integrating with key applications from depth into breadth. This resulted in some applications seeing a slight score increase, but because breadth is only 25%, the depth changes were much more impactful.
  • Usability – We expanded the number of questions to determine how much support that vendors are providing for their APIs. This includes availability of a developer sandbox, sample code, API documentation and the authentication software being used. This resulted in many scores going down slightly since many vendors do not make this information publicly available.  

 

The August Advisortech map updates are shown below:

Type of Change Number of Changes Products Notes
Added 9
  1. Wealth I/O – Digital Marketing
  2. Investsuite Storyteller – Advice Engagement
  3. Finity360 – Document Management
  4. BillFiX – Advisory Fee Billing
  5. Jotform – Client Data Gathering
  6. Hubspot – Digital Marketing
  7. Mailchimp – Digital Marketing
  8. Microsoft Bookings – Scheduling Apps
  9. Asana – Workflow Support
Removed N/A
New Category N/A
Category Name Change N/A
Category Changes 1
  1. DFA Returns – Primary category change from Stress Testing to Investment Data/Analytics
Category Removed N/A
Scores Updated 2
  1. Billfin, Advisory Fee Billing – 6.70
  2. FMG Suite, Website – 5.81
Total Vendor Inventory Total: 454

 

All changes made to the Kitces Advisortech Directory will be synchronized into our database the month after a new map is published. You can learn more about how we calculate the WealthTech Integration Scores here.

Building new integrations is the best way to improve a product’s score. Find out how our outsourced integration development team can help you by clicking here.

We know how important these scores are to you.  In order for us to calculate the most accurate score possible and showcase your product’s integration capabilities in their best light, please complete the Ezra Group Wealthtech Integration Survey here.  If you submit your survey prior to the first of the month, your product’s updated score will be included in the next month’s update, otherwise the score will be updated the following month.

The wealthtech landscape is constantly evolving, just like your product, so we encourage you to use this tool to highlight your integration technology to potential consumers.  

You should complete a new survey if your product has had material changes since the last time a survey was submitted.  

If you have any questions about your product’s score or how to complete the survey, please contact us at integrations@ezragroupllc.com.

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ABOUT ME

The Wealth Tech Today blog is published by Craig Iskowitz, founder and CEO of Ezra Group, a boutique consulting firm that caters to banks, broker-dealers, RIA’s, asset managers and the leading vendors in the surrounding #fintech space. He can be reached at craig@ezragroupllc.com

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