Tech-Tardy Advisers, Prepare For a Late-Adopter Penalty

Financial advisers need to step up their technology game or face losing some current clients, as well as the opportunity to serve entire new customer segments, fintech experts said. “As an industry we are late adopters of technology because there has been no such thing as a late-adopter penalty,” said Joel Bruckenstein, a tech consultant for advisers.

Outside influences such as firms that deliver financial advice digitally, as well as the popularity of companies like Amazon and Netflix, have impacted client expectations. Human advisers need to respond by offering more digital interactions to their clients.

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Post source : Investment News