T3 A Discussion On Change

Vestigo had a unique opportunity to speak at the T3 conference after receiving an invitation from a member of our advisory board, Andy Putterman.  T3 is the leading practice management and technology conference for independent and hybrid financial advisors, produced by Joel Bruckenstein.

Vestigo had a unique opportunity to speak at the T3 conference after receiving an invitation from a member of our advisory board, Andy Putterman. T3 is the leading practice management and technology conference for independent and hybrid financial advisors, produced by Joel Bruckenstein.  

Each year CEOs, CTOs, COOs and CCOs from broker/dealers, OSJ branch offices, large RIA firms and advisor networks gather to discuss and discover the best technology and enterprise solutions for their firms.

Andy has been on the forefront of advisor best practices and the technology evolution. A leader and highly sought speaker and consultant with top advisory firms, he is frequently asked to share his perspective on what the next generation of change will look like.

Ian Sheridan had the privilege of sharing the stage with Andy to co-present a talk entitled: If You Stand in the Way of Change, Prepare to be Knocked down.

Andy started the conversation: “There have always been conversations around the same issues that are present today, predictions around fee pressure, technology disruption, democratization of investments.”  

Noting that until now, he didn’t feel the urgency to adapt quickly to changing technology and other disruptive trends, Andy continued: “Today I feel completely different, and I am concerned for many advisors that they do not have the tools to address the changes that are coming.”

Together, Ian and Andy led a conversation with the audience on the trends shaping finance across disruptive platforms. While these nine technology trends are not limited to financial services, you can begin to see the far-reaching impact they are having on our everyday lives.

  1. Cloud Services. Adoption of cloud services are just at the beginning, opening the door to more efficient ways for new start-ups to solve big problems. Old hardware and code can be replaced and secured.

  2. Smartphone Ecosystem. Personal planning, investing and lifestyle coaching is bringing financial solutions once only available to HNW to everyone in the palm of their hands.

  3. IoT/Sensors and Integrated wearables. Data capture and transmission utilized across vehicles, property and people changes the way insurance and financial wealth management is deployed.

  4. Artificial Intelligence and Machine Learning. Along with mobile technology and the IoT, these trends are changing how we engage with financial institutions and check on our own financial well being.

  5. Cryptography and Blockchain. New transaction technologies remove the friction points in finance from AML, KYC to straight through processing to immediate financial transactions.

  6. Big Data. Provides insights into the customer value chain in real time, along with ideas on how to engage with customers in the ways they want to be engaged.

  7. Microservices. Architecture enables the continuous delivery/deployment of large, complex applications and the ability of organizations to evolve their technology stacks.

  8. Augmented Reality/Virtual Reality. Creates greater collaboration across teams and individuals, engaging the imagination beyond the flat page of a financial plan.

  9. Digital Currency. Allows an entire new way to create liquidity across financial vehicles once deemed illiquid.

Ian shared: “These are some the platforms that will change every aspect of the financial systems we use today. At Vestigo, we see how these new platforms have the potential for massive disruption from Wall Street to Main Street.”

Andy closed the session: “We are at the dawn of a new era, an era where human bias can be avoided, better decisions can be made and most importantly, key events can be anticipated- data and analytics is where value will reside.”

- Ian Sheridan