Fintech leaders address adoption and integration

Seeking solutions to the obstacles that dampen adviser tech utilization.
MAY 23, 2018

Leading custodians, broker-dealers and RIAs continue to increase their investment in adviser technology, according to InvestmentNews research. That increase in spending brings an enhanced concern that field advisers and support staff are fully utilizing the technology. Adoption continues to be a leading challenge in realizing a return on technology investment, and nobody wants to move on to "the next big thing" when they aren't getting the most out of their last purchase. The issue was a key discussion point raised by industry leaders who gathered at InvestmentNews' New York headquarters this week for the annual Fintech Think Tank. In a series of discussions over two days, representatives from a diverse array of wealth management firms and technology providers discussed the biggest obstacles to technology adoption and they suggested possible fixes. (More:Financial advisers embrace virtual offices) Some advisers said they want tech vendors to go beyond customer support and onboarding assistance to provide ongoing coaching, education on best practices, and metrics that can benchmark how a firm is embracing technology. Others shared strategies that have led to success in their own firm, such as designating certain technology gurus who can evangelize the value of technology to their colleagues. The idea is that if a firm can get 5% to 10% of "power users" embracing the technology, it can help push the others along. Participants also discussed the importance of integration and how to most effectively build an adviser technology suite, what the industry can learn from consumer-facing technology, and the impact that artificial intelligence will have on the financial advice business. Insights from these discussions will be published in the June 25 issue of InvestmentNews and online at the same time on InvestmentNews.com.

Latest News

Orion, RFG moves take aim at onboarding and transition speed
Orion, RFG moves take aim at onboarding and transition speed

Orion and RFG Advisory tackle account-opening delays with new updates as custodial integrations reshape how fast advisors can move client assets.

Corient adds $5B New York multi-family office Seven Bridges
Corient adds $5B New York multi-family office Seven Bridges

The deal extends the acquisitive mega-RIA's rapid 2026 expansion as industry consolidation hits record levels nationwide

Navigating the straight
Navigating the straight

As recent Middle East tensions put the Strait of Hormuz back in focus, a structured process with purpose can help protect investors against their natural self-sabotaging tendencies in choppy markets.

Commonwealth-affiliated Longwave hires from LPL-affiliated firm amid Pacific Northwest expansion
Commonwealth-affiliated Longwave hires from LPL-affiliated firm amid Pacific Northwest expansion

ESG-focused Longwave Financial, approaching $1B AUM, acquired Seattle-based MG Financial and hired a client services manager from an LPL-affiliated firm.

Securitize becomes RIA as tokenized assets near $37B record
Securitize becomes RIA as tokenized assets near $37B record

Tokenization goes mainstream with regulators watching prompting some firms to take a proactive approach.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income