Podcast | The future of tech in wealth management

Financial advice

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Podcast | The future of tech in wealth management

At Seccl, we operate in an exciting domain, where innovative fintechs and ambitious, forward-thinking wealth management firms collide (in a good way!).

It gives us a unique vantage point from which to assess the emerging trends that could define our industry in the future – and also means I’m lucky enough to have some really interesting conversations with some very bright people.

I recently had the pleasure of chatting to the incredibly knowledgeable Heather Hopkins – Founder and Managing Director of consultancy firm, NextWealth – as part of their regular NextWealth Insights podcast series. You can listen along to it here:

On the agenda? The not-so-small topic of technology in wealth management, and the new future it can help to create for firms and consumers alike. Topics included…

  • The future of advice: how could advice be delivered in the future – and to whom?

  • Customisation: what can wealth management learn from other sectors like health and fitness, where personal data can be curated to deliver hyper-customised insights?

  • Trust: does the ‘trust hurdle’ pose a barrier to innovation of this kind – and when does personalisation become creepy?

  • Collaboration: how can we encourage firms to co-operate and integrate, and what role can modular architecture can play?

  • Pace of change: why has the innovation that we’ve seen in other sectors been slower to arrive in wealth management?

It was a fun and far-ranging conversation, and arguably more timely than ever. Over the last few weeks, many advisers will have had to grapple with new tools to make remote working, well, work. So as we all settle into our (by now probably quite entrenched) new routine, it’s as good a time as any for us all to explore the role that technology can play in supporting the future of our business models – and our broader industry.

Give it a listen and let me know what you think.

And if you’re interested in finding out more about how to make technology work for your advice or wealth management business, tune in to a webinar I’m giving as part of the Citywire Virtual Fintech Forum tomorrow afternoon.