The panelists share their predictions and takeaway points for the future of wealthtech as we move into 2021.

 

 

TRANSCRIPT

Moderator:
Suzanne Siracuse, CEO of Suzanne Siracuse Consulting

Panelists:
Oleg Tishkevich, CEO of INVENT.us
Joel Brukenstein, Founder of T3
Gavin Spitzner, President of Wealth Consulting Partners
Tim Welsh, President of Nexus Strategy

 

Suzanne: We are almost out of time. What I want to do is ask each one of our Panelists to give me one sentence of the top. If you want our listeners to leave with one thin takeaway what would it be? And I’m going to start with Gavin.

Gavin: Put me on the spot?

Suzanne: I am putting you on the spot, what is the one take away that advisors and enterprises should be thinking about as it relates to technology?

Gavin: Alright, I am going to go with Data. Data driven insights that drive personalized advice and scale. That, to me, is the key.

Suzanne: Love it. Tim?

Tim: In a world of free, how do you differentiate yourself. I think we’re going to become a profession in all senses of the name. So that subscription models, retainers, fee-based that is the value advisors bring bifurcating from the tech, it is all about the people.

Suzanne: I love that, great. Joel?

Joel: Review your tech stack. Most advisors only do it every 3-5 years. Now is a great time to really review everything and make sure that you have the proper tools for the world ahead because it will be different.

Suzanne: And does that also hold true for enterprises that may be listening?

Joel: Absolutely.

Suzanne: Oleg, you get the last word, what is the one thing, the one takeaway for our listeners from your perspective, the most important thing.

Oleg: I would say, we have been living in the same world for a while, we have been living in the same house for a while, it is time to remodel. It’s time to rethink and reinvent yourself. I think that is one thing that I wanted to tell everyone, whether it is a small advisory firm or large enterprise, it’s no longer ok to say, oh you know, we have been doing this for 20 years, we’ll be fine. I think that there are so many things that are changing in our world today that it is time to reimagine your future.

Suzanne: So, I just want to thank you all. What fantastic bits of advice, great discussion. I think that I could agree with each one of your main takeaways today. And mine would be human plus digital equals complete client experience and advice, so that marrying together, not separate.

Again, I think that there is so much going on, there’s so much excitement in our industry. It was a real pleasure talking to you guys today about some of the trends going on in the wealth tech space as well as what your key takeaways were. So, on behalf of INVENT Elite, I am Suzanne Siracuse and I want to thank you all for listening and thank you to our panelists.

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Industry trends

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Advisor
Technology

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Digital
Advice

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Practice
Management

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Diversity
and Advocacy
Initiatives

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Executive Leadership