Most advisors “don’t know the full scale of how far behind” the financial services industry is “in terms of technology and delivering the optimal client experience [compared] to the rest of the world,” according to Jamie Hopkins, managing partner of Wealth Solutions at Carson Group.
The industry’s tech catch-up “is going to occur,” explains Hopkins, who also is managing director of Carson Coaches and director of Retirement Research for the firm. But its high level of regulation and multifaceted distribution channels make it “a little bit harder” to move swiftly versus, say, disruptive entities with “very loose regulations,” like Uber, which “got in and got big” [fast].”
Cryptocurrency and digital assets, which “clients are asking for more and more, are “front and center” driving the industry forward, argues Hopkins in a Nov. 9 interview in New York, where he spoke at ThinkAdvisor’s inaugural LUMINARIES recognition awards gala.
Hopkins earned a law degree from Villanova, worked in the profession briefly, then changed direction. “I saw the practicality of building and designing things outside the practice of law,” says the Certified Financial Planner.