2025 BetaNXT Data Modernization Benchmarking Survey
Tracking Investment and Wealth Management Decision-Makers' Views and Progress on Data Modernization
Introduction
BetaNXT recently partnered with Wealth Management IQ to survey nearly 250 decision-makers in the investment and wealth space, exploring their perspectives, priorities, and challenges in achieving data modernization — a crucial foundational step for deploying AI and other advanced technologies. Our key findings reveal the winning strategies that set industry leaders apart.
Report
The Inaugural BetaNXT Data Modernization Benchmarking Survey
Video
Data Modernization: A Top Priority for Investment and Wealth Management Leaders
Data Modernization Benchmarking Survey: The Winning Strategies of Data-Minded Leaders
Hear what subject matter experts from BetaNXT and Wealth Management IQ had to say about the key findings from the benchmarking survey in a recent webinar.
Watch the replay or download this executive summary to learn more about how wealth firms are tackling data modernization, and what sets industry leaders apart.
5 Key Takeaways
of firms are focused on data modernization
Industry Pulse Check
Modernization is a must for firms who want to stay ahead of data challenges — and competitors.
Two-thirds will also invest more on data modernization in 2025. Firms who are not yet modernizing their data risk the domino effect of data chaos on downstream issues.
Competing Priorities
Update, integrate, or innovate? Modernizing takes all three at once.
Decision-makers grapple with many different but similarly important objectives, such as improving data integration (53%) and leveraging AI (44%). All these priorities depend on an optimized data foundation.
say replacing legacy tech is a priority
What Data Modernization Means Among Firms
For this section, respondents could choose up to four answers.
of firms prioritize data governance
Overlooked Fundamentals
In the drive to innovate, many are rushing past fundamentals.
Many firms (43%) are motivated to modernize by the allure of new technologies, but some firms are overlooking critical fundamentals: security, governance, and a single source of truth.
prioritize security in data modernization
say a single source of truth
would be transformative
are trying to achieve it
say the top data challenge is a skill gap/lack of expertise
The Power of Talent
The right talent strategy helps firms win from within.
While 37% of firms have hired a Chief Data Officer to lead data efforts, only 8% fully empower data teams. Talent strategy will be critical for firms who want to win.
of firms have hired a CDO, and are more advanced in their modernization
Who Holds Responsibility for Modernization Today
Vendors as Partners
Firms lean on vendors to modernize faster.
While the majority of firms rely on vendor solutions for their data management needs, 57% wish their vendors were more strategic partners — a key opportunity for adding value.
use vendor solutions for
data management
A Desire for More Strategic Vendor Relationships
The Inaugural BetaNXT Data Modernization Benchmarking Survey
