Between Sessions – The Changing Financial Advice Delivery Model

August 3, 2014

Join Jay Palter and I for our twice monthly Between Sessions. We explore the digital business model and its evolution (both slow and fast) in financial services.

You can thanks Jay for the great name – and our mission is to kindle the conversations in these hangouts that so often occur “between sessions” at the events and meetings many of us in the industry frequent.

In today’s episode we consider the momentum and current, slow (perhaps), collision of consumer technology and consumer preferences with the legacy business models in financial services continues. This certainly defines, in part, the discussion going on around live advice from financial advisors versus robo advisor models. We explore that collision from the automation of technology in our advice and service delivery models to the “retail-ization” of financial services. A useful analogy for this retail movement could be considering how Apple hired away Burberry’s CEO to take a VP role heading up their retail channel.

Using a great segue from Jay – when he commented that ultimately all individuals and brands are (or can be) publishers – we also explored LinkedIn’s Publishing tool. A valuable component of that prior mentioned automation of the industry – being the wider distribution of meaningful content.

Lots of resources below that fed our discussion and talking points.

The Automation of Financial Planning
http://www.thedigitalfa.com/blanewarrene/the-automation-of-financial-planning/

Robo Advisor Pivots to Provide Financial Advisors Competitive Tools
http://techcrunch.com/2014/07/14/upside-raises-1-1m-to-help-investment-advisers-compete-against-wealthfront-betterment-and-co/

The “Retail-ization” of Financial Services
http://www.crainsdetroit.com/article/20140727/NEWS/307279988/telemus-capital-turns-to-retail-exec-as-it-steps-up-expansion#

Optimizing Your Content for LinkedIn Publishing
http://jaypalter.ca/2014/07/tips-for-optimizing-your-content-publishing-on-linkedin/

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