Posts Tagged: Technology

If a GPS can fail, so can fintech

I recently read an article from the Philadelphia Inquirer about an 18-wheeler that drove several miles down the pedestrian-only Boardwalk in Atlantic City. The driver was following instructions of his onboard navigation system which had the boardwalk designated as a street. After passing several stunned onlookers, the driver found himself stranded and his tractor trailer…

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What we can learn from Amazon’s acquisition of Whole Foods

For the past 20 years, organic food grocer Whole Foods has rethought the way consumers shop for groceries and brought the farmers’ market to neighborhoods all over the country. While pricey, it succeeded in a crowded sector, and grew in a small niche market into a nationally dominant position, becoming part of the American fabric…

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Vanguard to seize wealth management industry with its digital platform

Robo-advisors have been around for over a decade, and throughout that time we’ve been hearing that they are a threat to established independent wealth advisors. While they might have attracted a lot of industry coverage, most robos have gathered a relatively small amount of market share over 10 years. Yet in two short years, Vanguard…

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What financial advisers can learn from Amazon

What happens when geography stops being an important buying criteria? Recently my phone’s storage chip malfunctioned. Unfortunately, I had a full afternoon of meetings and an early morning flight the next day. Thanks to Amazon, I had a new chip in my mailbox by the time I arrived home a couple of hours later that…

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How technology will alter the role of human advisers in wealth management

A small group of us spent a recent afternoon with the chief evangelist at Singularity University in Silicon Valley. The campus is fittingly housed on a NASA site under the shadow of a huge unused hangar once used to store blimps. Their classrooms contain every variety of technological gadget you might imagine, from 3D printers…

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How will client engagement evolve by 2020?

For the past 50 years, advisors in our industry have interacted with clients in basically the same way. We have held all the knowledge, access to the answers and told clients what they needed to do. Like physicians and lawyers, clients have come to us at our offices at a time when we could accommodate…

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The Best Strategy for FinTech Adoption

I spend a lot of time looking at alternatives and making decisions about our technology spend at United Capital. Often it comes down to a ‘build or buy’ decision — should we build a custom application that exactly suits our needs, or should we utilize off-the-shelf software and hope we get close enough? What I’ve…

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Is Your Firm Hip to Tech?

Whether or not your firm is using technology to strengthen client relationships, consider this: 78% of U.S. adults feel digitally ready and very confident about using computers, smartphones, and gadgets, according to a Pew Research Center 2016 study. Digital adoption is no longer optional, it’s necessary. PricewaterhouseCoopers research suggests that 85% of clients use three…

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FinTech Adoption Drives Financial Adviser Practice Growth

As an experienced financial adviser, you know your business growth is driven by client interaction. All the technology in the world cannot build the trust between people like one-to-one interpersonal contact can. But it can help. A lot. The explosion of affordable, cloud-based technology tools financial advisers can tap puts large swaths of your administrative…

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Game of Survival

Until the middle ages, warfare was primarily a battle of numbers. Those with the most men won the war. That changed as weaponry became more important than people in winning combat. The battle for market share in our industry is much the same. A Shift in Strategy Flying to Hawaii over the holidays, my wife…

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