Next-generation financial planning is the theme at this year’s Technology Tools for Today (T3) conference in Dallas.
On Friday, the first full day of the three-day T3 conference, the tech news kept coming, and it was undeniable that technology providers to financial advisors are preparing for a next-gen shift as investors becoming increasingly comfortable with online financial services.
“If you can find your spouse online you can probably find your advisor,” said Neesha Hathi, senior vice president of Advisor Services Technology Solutions at Charles Schwab.
Hathi noted that WebMD changed the way doctors work as patients went online to become better informed. Now, she said, advisors are transitioning into a similar role as their clients follow their finances online and expect advisors to be their trusted navigators.
With that next-gen theme in mind, here are some of the high-tech news highlights coming out of T3:
CLS Investments and Riskalyze Launch AutoPilot. CLS Investments, a third-party money manager and exchange traded funds manager, Riskalyze, inventor of a popular client “Risk Number” product, are partnering on the launch of a digital tool that aims to help advisors neutralize the growing robo-advisor threat. The new AutoPilot tool embeds automated asset management and risk measurement into an advisory firm’s existing website. CLS is a member of NorthStar Financial Services Group.
Read more about AutoPilot: If You Can’t Beat Robo-Advisors, Become One
RiXtrema, FinaMetrica Collaborate. Portfolio stress-testing expert RiXtrema and risk-profiling specialist FinaMetrica announced a collaboration that will offer end-to-end risk management for advisors. It combines FinaMetrica’s “psychometric risk tolerance test” and portfolio mapping with RiXtrema’s stress-testing and portfolio applications.
Read more about FinaMetrica: Getting Clients to Share Their Secrets
RIA in a Box Releases MyRIACompliance. As the registered investment advisor model evolves, www.riainabox.com, a regulatory compliance services provider to RIAs, announces the release of MyRIACompliance. The new product is an automated software tool that helps advisors with compliance management online.
Read about how advisors can reach tech-savvy Millennials on ThinkAdvisor.