We always talk about how traditional financial institutions are being disrupted by fin tech, but some smaller scale independent financial advisors are being left behind by the fin tech revolution. Larger firms have the capital and streamlined services to invest in large expensive fin tech products. But independent advisers with less than 200 clients don’t have the ability to purchase such systems, and can’t utilize fin tech to their advantage.
InvestmentLink CTO Wayne Robinson, says that to break into this forgotten market fin tech firms need to develop more customizable software that will give more control to the user. Independent firms have more diverse clients with different needs and therefore need a software that allows them to provide the best practices for their clients. By creating a more often software, the product can become cheaper for these firms and put more advanced fin tech in their reach.
http://www.fintechbusiness.com/industry/643-ifas-being-left-behind-by-fintech-companies