Financial technology companies with a new product aimed at Gen X and/or Gen Y clients can now enter a contest sponsored by the XY Planning Network to identify the best new fintech products for advisers serving that market.
The XY Planning Network, a financial-planning and support platform/virtual community for 400 fee-only adviser members, will announce the winner of its second annual FinTech Competition at the group's #XYPN17 conference, to be held August 28-31 in Dallas.
Companies who enter must either have been launched in the last 12 months, have less than $1 million in revenue or be an existing company launching an entirely new product that is substantively different from its existing offerings.
Prizes will be awarded for the best innovation.
The competition will be hosted by Bill Winterberg, founder and president of FPPad, and judged by Mr. Winterberg; Michael Kitces, partner and director of financial planning research at Pinnacle Advisory Group Inc.; and representatives from conference sponsors Betterment for Advisors and Quovo.
The winner of last year's competition, which received 19 applications, was Snappy Kraken, a marketing technology platform. Other finalists were RightCapital, a financial planning software provider; Totum Wealth, an analytics tool; DataPoints, a behavioral science analytics company; Ambitient, an adviser-client communications tool; and EFC PLUS, a student-loans program.