4 Tech Trends to Watch in 2015
Here are four trends that should have a significant impact on the industry in 2015. Click through to see the list, or view it as one page here. -- Joel Bruckenstein
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1. ROBO TECHNOLOGY
Now the custodians are starting to offer such tools to advisors. Schwab says it will roll out its own online platform, Schwab Intelligent Portfolios, to advisors in 2015. Fidelity has a new referral arrangement with Betterment. Jemstep, NestEgg, Trizic, Upside Advisor and other firms will be offering advisor tools via TD Ameritrades VEO platform. And Folio Institutionals Advisor Connexion platform allows advisors to create their own robo-technology experience.
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2. CYBERSECURITY
The SEC has also made it clear that it will be tightening its security-related supervision of RIAs and B-Ds, identifying a number of areas that it expects registrants to address. Expect heightened scrutiny and more enforcement action as well as an uptick in development of and spending on cybersecurity technology.
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3. PLANNING REVIVAL
A better strategy may be for advisors to redefine their value proposition in areas that have not yet been commoditized; financial planning is perhaps the most promising one. With many baby boomers entering or nearing retirement, demand for comprehensive planning should be strong in the years ahead. And planning software vendors have done a great job of streamlining the process and making it more interactive and more affordable.
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4. MATURATION OF MOBILE
One prime example is mobile check deposit, which has proved extremely popular at virtually every institution that has made it available. Mobile money movements (such as wire transfer authorizations) have proved extremely popular, as well.
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