Build vs Buy in Wealthtech: How Firms Actually Win

Advisory leaders want better tech so teams can serve more clients with less friction. The instinct to build in-house feels logical. You know your processes. You want control. In reality, most firms end up with slow builds, hidden costs, and tools that lag behind vendors. This guide explains why internal development falls short, how partnerships close the gap, and what a practical path forward looks like.

The Real Cost Of Building Your Own Platform

An internal build rarely stops at version one. You take on product management, security reviews, support, upgrades, and training. Every change request becomes a mini project. Budget and time move from client work to maintenance. Initial savings fade while long-run costs grow.

You also accept delivery risk. Missed timelines slow operations. Partial launches frustrate users. Shadow tools pop up to compensate. The result is fragmented data and inconsistent client service.

Talent Gaps You Cannot Ignore

Strong platforms demand skills across data architecture, APIs, cybersecurity, user experience, and compliance. Most firms cannot staff that full bench. One study found that 64% of financial services leaders lack internal expertise in regtech, APIs, cybersecurity and data flow — all crucial elements of technology platforms. That gap strains any in-house effort and raises operational risk.

Even a capable engineer or two is not the same as a dedicated product team. Vendors bring product managers, designers, QA, and integration specialists who live in this domain every day.

Innovation Never Stops

Wealthtech changes fast. Custodians update specs. Integrations move endpoints. Security standards are evolving. Client expectations rise. Vendors ship on a steady cadence because it is their core business. Internal teams struggle to match that pace while also running a firm. The gap widens with every release cycle and the tool you built drifts behind current needs.

Partnering Beats Reinventing

Partnerships let firms bring real clients and process knowledge while vendors bring scale, patterns, and proven components. You move faster because you are not rebuilding common plumbing. You lower risk because security and compliance controls are battle tested. You get a roadmap that compounds value over time instead of a project that loses momentum.

What Leaders Should Measure

If you are weighing build vs buy, track these signals:

• Time to first value for users
• Number of manual handoffs per process
• NIGO rates on account opening and servicing
• Upgrade cadence across your tech stack
• Total cost of ownership across three years
• Exposure from security reviews and audit findings

If these indicators are trending the wrong way, the internal path is likely to cost more than it saves.

What Buy Looks Like In Practice

Buying does not mean giving up control. It means selecting tools that fit the way you work, then using configuration and integrations to map your process. You get a stable core, a steady stream of improvements, and support you can count on. Your team spends time on client outcomes rather than debugging code.

Where Hubly Fits

Hubly gives firms the operational backbone they expect from a vendor partner. Start the day with a clear view of priorities so leaders, advisors, and admins know what needs attention. Deliver consistent client experience across onboarding, reviews and service. Raise visibility and accountability with clear ownership and status. Set up automations that remove routine steps and free your team for client work. Build workflows that are easy to create and change without the clunky feel many CRMs have. Get insights into your operations so you can spot bottlenecks and expand capacity. Put guardrails in place so nothing falls through the cracks.

Ready to move faster with less risk? Start your free 30 day trial of Hubly today.