I had the honor of hosting an industry panel with 5 esteemed colleagues at the inaugural Fintech Salon – AI In Wealth Management at Rise this past week. Nathan Stevenson (CEO/Founder, ForwardLane), Ben Fried (CEO/Founder, Cred), Brian Lincoln (Global Head of Wealth Management Solutions, IBM), Mark Rodrigues (General Partner, Illuminate Financial), Chris Frigon (Partner, Frigon Maher & Stern) and I led a fantastic, in-depth discussion with 40 of our fellow colleagues, investors, industry digital leaders and professionals around:
- What are the major trends in wealthtech & AI today? How is the technology being used in practice?
- Will artificial intelligence help or replace Financial Advisors?
- Why do large organizations chose to work with fintech startups?
- How should one think about investing in wealthtech?
We covered so much in one evening and from so many perspectives!
- Digital Transformation Leader in Industry
- Service Provider
- Fintech
- Investor
- Legal / Regulatory
I will share more of the in-depth details in the coming days. In the meantime, here are some highlights of what came out of our session:
1. Advanced analytics and artificial intelligence will serve to “augment” wealth managers’ capabilities to better understand their client’s needs, beliefs, and values so they can deliver a better service and higher quality of advice at a lower price than today.
2. The lasting influence of fintechs and robos have expanded from making a fantastic digital experience table stakes to now making the general public more aware that Wealth Management is a bundle of services and products which can be procured and experienced discretely.
3. Measurement of success and value of a digital transformation using advanced analytics and artificial intelligence is far more than black and white as financial services institutions are just now developing the transformation muscles which other more consumer oriented industries (i.e. retail, entertainment, even telcos) have been flexing for almost two decades.
Panel discussion experts: Nathan Stevenson (CEO/Founder, ForwardLane), Ben Fried (CEO/Founder, Cred), Brian Lincoln (Global Head of Wealth Management Solutions, IBM), Mark Rodrigues (General Partner, Illuminate Financial), Chris Frigon (Partner, Frigon Maher & Stern)
To keep the great ideas, conversations, and connections going, I also announced the creation of the WealthTransformed, an initiative founded to connect like-minded individuals who believe in the use of design, technology, and data to accelerate and greatly transform our experience, for the better, in personal financial management. Our first asset will be to stand up a blog for people to exchange their “unfiltered” and “unbadged” views on how we can better deliver outstanding experiences while adding real value for people needing personal financial management.
Whew! That was a whole LOT!
Thank you to all the speakers, our guests, Nathan, and the folks from Artvesta Studio for capturing the photos and videos from our event!
Roger | 917 302 0947 | roger.hu@wealthtransformed.com
