OneVest’s Post

In his highlights of The Advise AI Conference 2024 on Kitces.com, Craig Iskowitz, CEO and Founder of Ezra Group, LLC, observed: "This isn't just another passing trend. The conference underscored a pivotal shift in thinking about AI's role in our field." This shift demands careful tool selection & as Michael Kitces points out - 'The best AI tools for advisors must serve a core need, handle repetitive tasks, save significant time, and support straightforward processes.' In an industry where trust and security are paramount, we're proud to be leading the Client Meeting Support category in compliance standards while delivering the specialized workflows advisors need. But meeting notes are just the beginning. We're creating an operating system for client meetings that helps strengthen relationships and boost retention, while maintaining the rigorous compliance standards. Michael Kitces , Ben Henry-Moreland, CFP®, EA , Sarah Reece, MBA and team have done something remarkable - mapping innovation across every corner of advisor technology. Looking at all these logos, it's inspiring to see how our industry is evolving, and we're proud to be doing our part with Mili. Thank you Michael Kitces for this thoughtful analysis and including Mili in this journey of transforming how advisors serve their clients! Big things brewing at Mili - more updates coming soon! Meanwhile, explore where WealthTech is headed in this comprehensive map ⬇️ #WealthManagement #FinancialPlanning #ArtificialIntelligence #Fintech #WealthTech #FinancialAdvisors #AI #Mili #AIForAdvisors #Innovation

Robinhood Acquires TradePMR To Refer Next-Gen HNW Clients To On-Platform RIAs (And More Of The Latest In Financial #AdvisorTech – December 2024): https://bit.ly/4g84leZ And more interesting technology announcements: -All-in-one platform Advyzon has announced the upcoming launch of Auria, a family office platform targeted at advisors of ultra-high-net-worth clients -Paid lead generation service SmartAsset has announced the launch of two new prospecting tools, further expanding on its recent rollout of solutions that help advisors with nurturing and marketing to the leads it provides -Zeplyn, an AI-powered meeting note tool, has raised $3 million in seed capital as it seeks to differentiate itself as the "most accurate" AI note taking solution rather than on the breadth of different functions it can perform And new companies added to our "Financial AdvisorTech Solutions Map": -Oyster Consulting, LLC (Compliance) -401GO (401(k) Implementation) -Vantagepoint AI, LLC (Investment Data/Analytics) -Wavvest (Client Portal) -OneVest (Portfolio Management) -Mili (Client Meeting Support)

Robinhood Acquires TradePMR To Refer Next-Gen HNW Clients To On-Platform RIAs (And More Of The Latest In Financial #AdvisorTech – December 2024): https://bit.ly/4g84leZ And more interesting technology announcements: -All-in-one platform Advyzon has announced the upcoming launch of Auria, a family office platform targeted at advisors of ultra-high-net-worth clients -Paid lead generation service SmartAsset has announced the launch of two new prospecting tools, further expanding on its recent rollout of solutions that help advisors with nurturing and marketing to the leads it provides -Zeplyn, an AI-powered meeting note tool, has raised $3 million in seed capital as it seeks to differentiate itself as the "most accurate" AI note taking solution rather than on the breadth of different functions it can perform And new companies added to our "Financial AdvisorTech Solutions Map": -Oyster Solutions (Compliance) -401GO (401(k) Implementation) -VantagePoint AI (Investment Data/Analytics) -Wavvest (Client Portal) -OneVest (Portfolio Management) -Mili (Client Meeting Support)

Robinhood Acquires TradePMR To Refer Next-Gen HNW Clients To On-Platform RIAs (And More Of The Latest In Financial #AdvisorTech – December 2024): https://bit.ly/4g84leZ And more interesting technology announcements: -All-in-one platform Advyzon has announced the upcoming launch of Auria, a family office platform targeted at advisors of ultra-high-net-worth clients -Paid lead generation service SmartAsset has announced the launch of two new prospecting tools, further expanding on its recent rollout of solutions that help advisors with nurturing and marketing to the leads it provides -Zeplyn, an AI-powered meeting note tool, has raised $3 million in seed capital as it seeks to differentiate itself as the "most accurate" AI note taking solution rather than on the breadth of different functions it can perform And new companies added to our "Financial AdvisorTech Solutions Map": -Oyster Solutions (Compliance) -401GO (401(k) Implementation) -VantagePoint AI (Investment Data/Analytics) -Wavvest (Client Portal) -OneVest (Portfolio Management) -Mili (Client Meeting Support)

Schwab is shutting down the B2B robo platform for RIAs. The main reason these platforms never took off is that RIAs couldn't get enough potential clients to the landing pages to attain scale. Most RIAs have zero online audience. I can count the number of firms who can drive any traffic at all on one hand. How can a firm get investors in their 20's and 30's to onboard themselves when they don't even have the visibility among investors in their 20's and 30's? In the early days of this, there was an assumption that the advisor clients on B2B robo platforms would be the young adult sons and daughters of their firms' existing clientele. That didn't turn out to be a big driver of anything. The next assumption was that firms were going to use internet advertising to drive investor traffic to their robo landing page. Wrong again - if you're spending money on Facebook and Google ads, might as well advertise the thing that pays you the most: Full service wealth management. Why advertise your lowest profit business? Then they said "Over time, RIAs will be get savvier about social media content and engagement will drive digital onboards." They got this half right - advisors are now great at social media, but only when connecting with potential investors one-on-one. Very few are improving at one-to-many, broadcast-style engagement. Can't one-by-one a robo platform. You need hundreds of accounts to reach millions of dollars. The revenue is tiny. Not a good use of time. Pay attention because they're about to burn another few billion VC dollars learning this lesson with AI tools for advisors. Circle of life, Simba. https://lnkd.in/eWDrENah via Brooke Southall

💯 The only good ROI on B2B "robo" tech is to aid onboarding into a full service model tiered by service segment. It's especially good at helping advisors transition from one firm to another where speed and accuracy are ultra crucial. It also makes downstream portfolio Management and compliance much less work. AI is already enhancing this process, improving the accuracy of reading information off IDs, cheques, forms, etc, and can also provide compliance reviews and cross checks much more accurately than a human, allowing the compliance team to just spot check the AIs work rather than look at everything 1:1. In the near future, I think we'll figure out how to deliver more and more of the pro-active aspects of the service model effectively using AI. Already meeting notes taken by AI create tasks and action items. Personalized gifting tied to milestones can be automated, service check-ins, scheduling process meetings, creating meeting prep packages, etc can all be automated. There are tons of good applications for tech in wealth, as long as the front of house interactions are done by people to keep the experience human! #wealthmanagement #ai #roboadvisors

🚀 Unveiling a Revolution in Financial Onboarding: The Sumsub & BROKSTOCK Journey 🚀 In the whirlwind of the financial sector's evolution, our partnership with BROKSTOCK marks a milestone of innovation and unmatched efficiency. From the get-go in 2020, we've been riding the front wave of their onboarding revolution, charting an incredible journey of growth and digital breakthroughs. Here's what we achieved together: - 🌟 Opened over 40,000 investment accounts - 📲 Surpassed 150,000 app downloads - ⏱ Turned days-long onboarding into a matter of minutes - 🔒 Leveraged Sumsub's powerhouse AML and document verification tech to boost compliance and security This collaboration has redefined customer onboarding in finance, highlighting the pivotal role of technology and expert synergy. Sumsub's verification solutions didn't just speed up Brokstock’s process; they ensured a seamless, secure, and friendly user experience, propelling Brokstock to new heights and cementing Sumsub's position in the digital vanguard of the financial industry. What's Next? We're not stopping here. The journey continues, and we're excited about the new frontiers we'll explore together. 💡 Stay tuned for more as we push boundaries and chart new territories together. #Sumsub #Brokstock #FinancialInnovation #CustomerOnboarding #DigitalTransformation #AfricaFintech #kyc #idv 🔗 Discover the full success story here: https://lnkd.in/dSbFxTKj

Invesco Asia Pacific has seen a 300% increase in leads per webinar, but they're not resting on those laurels. 🙌 Instead, this financial services company is ready to take its data-driven approach to a new level. Read all about it: https://bit.ly/3PQO9nA #webinar #FinancialServices #DataDriven

🔎 Partner Channel Sales and Demand Generation 🔎 Now a bit about onboarding into organisation and few points of focus. In the rapidly evolving fintech landscape I think those two above play crucial roles in driving growth and expanding market reach. As companies innovate and disrupt traditional financial services, leveraging partnerships and effective demand generation strategies become essential for success. 💡 Leveraging Partnerships allow to collaborate with established players, such as banks, payment processors, and technology providers. These partnerships help access new customer bases, enhance product offerings, and scale operations efficiently. 💡 Successful demand generation involves a mix of inbound and outbound marketing tactics. Content marketing, webinars, and thought leadership pieces help educate potential customers and partners about the value of fintech solutions. Additionally, targeted advertising and social media campaigns drive awareness and lead generation. but... don't lose focus on TRUST 💡in Financial Services Industry where trust is paramount, work closely with partners to build credibility. Joint ventures, co-branded initiatives, and mutual endorsements can enhance a fintech's reputation and reassure customers about the security and reliability of its offerings. #Fintech #Authologic #Onboarding #Growth #Trust

Streamlining Customer Decisions: Lessons from Delta and Robinhood I recently explored how Delta and Robinhood are reducing decision-making friction for their customers through innovative features. Delta's new points-based trip suggestions simplify travel planning, while Robinhood's hedge fund trading insights empower individual investors. Both examples highlight the importance of understanding customer needs, leveraging data, and creating user-friendly designs to enhance engagement and satisfaction. Read my full article to learn more about these game-changing strategies and their impact on customer experience.