There is currently a lot of pressure on financial advisors to make the client experience more efficient and user friendly for their customers. This creates opportunity for fintech companies to build programs for these advisors to implement. In one example, Redtail Technology will launch real-time communications for the advisor to be able to reach out and respond to both staff and clients using text messaging services built within their client relationship management tools. This technology will also make sure all communications will tie into an audible trail, with quick responses that will allow everything to happen faster. Another company, Orion, is working on a fee benchmarking tool so advisors will be able to compare the fees they charge households with 1,000 other firms that use Orion’s systems. This will not only allow advising companies to come up with comparable pricing, but also will show clients whether or not they are paying too much for their services. Lastly, the Envestnet Tamarac platform is planning on releasing new features which will allow investors to view and co-manage a series of accounts, such as those of an entire household. Fintech has been a strong growing industry, and as shown by this article, 2017 will carry on this trend.
http://www.investmentnews.com/article/20161216/FREE/161219948/tools-financial-technology-companies-plan-to-bring-advisers-in-2017