Will Fintech Get “Uber-ized”?

Note from the CEO:  The very short answer to question posed in the headline is (ta da)……….yes. Better yet. Yes, of course and probably is coming into form as we speak. Whether by consolidation or a new company, it is inevitable. Smart money is on NASDAQ. They are now a self proclaimed fintech company.

“……In point of fact, some have tried in the past to build such a platform. The closest representation of the model was MyFinancialAdvice, an initiative that begin in the early 2000s but ultimately shut down a few years ago after failing to get sufficient traction with consumers. Another example still in practice is Paladin Registry, which also provides a “matchmaking” service between consumers and financial advisors (which the platform helps to vet on the consumer’s behalf). And several membership associations and advisor networks provide their own form of “mini”-platform for consumers to find an advisor, including the NAPFA “Find An Advisor” tool, the CFP Board’s “Find a CFP Professional” site, and the find-an-advisor capabilities of the Garrett Planning Network and our own XY Planning Network.”

Read Full Article at Kitces.com