Note from the CEO: This is a very good read since it is based on real experience of starting a new advisory firm. A lot of folks are and it is refreshing to learn what to expect. Knowing about technology and using new fintech are so separate. Read and learn.
"I left a great wealth management firm to start my own RIA over six years ago. This was a difficult decision, but I wanted to serve a slightly different market that I thought was underserved — the younger baby boomers and a lot more of my peers (Gen-Xers and some millennials) that fell under the radar of the top wealth management firms..............
I still read a fintech article just about every day because of my passion for technology and continual pursuit to give my clients a premier wealth management experience. Providing this experience requires relationship building and technical capabilities from a financial planning and investment management perspective, but more than ever before, it requires regular technology investments.
Some of the firms I've used over the last six years (e.g., Morningstar Office, Tamarac, ByAllAccounts, MoneyGuidePro and others like them) continue to make advisers more efficient while providing better advice to clients. Fintech 1.0 was the cloud, paperless offices, reporting in real-time, efficiencies and integration in trading, rebalancing, CRM, etc. Today we are in the beginning years of Fintech 2.0. This phase seems to be the advent of the robo-adviser and the client/user experience."
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