This year’s T3 (Technology Tools for Today) conference attracted an impressive number of attendees. With more than 600 in attendance, the conference has doubled in size the past several years.
The conference also seems to be THE venue for fin-tech firms to announce new ventures, software versions, and integrations. There is no better conference for advisors keen on keeping up with cutting edge technology in the financial services sector.
AssetBook exhibitors Jimmy Wilkes and Rob Major
We noticed a couple of trends creating buzz at the show… most notably robo technology for advisors and truly seamless integration of advisor technology.
On the robo front, we noticed that in addition to established portals like Betterment and Oranj, systems new to the space like Advisor Engine not only showed up but sponsored the conference at the Platinum level. Riskalyze announced its own new robo-esque platform as well.
It appears that advisors are continuing to embrace the technology that the robos are bringing to the table. These platforms eliminate the need for human intervention to assist in client onboarding, risk profiling, model design and implementation.
Seamless integration of advisor facing apps may seem like a broken record at this point. Some of you may remember the decade-old Silver Bullet campaign. Until now, it really hasn’t evolved all that much as most integrations between advisor apps still use old-school “push-pull” techniques or old-school web services.
Modern APIs are the key to achieving rich and meaningful integration of your CRM, PMS, Planning and Trading systems. It also seems like the custodians may play a role in connecting the APIs in a standard way.
As always, we enjoyed the speakers, especially Bob Veres.
Bob was talking about “The One Solution”, which refers to his theory that the financial planning industry is basically “stalled” in terms of advisors attracting new clients. In summary, Bob presented a viable solution to the problem that included employing younger succession advisors, improving your on-line presence including digital reporting, leveraging communication technology (like Skype and Facetime), and building niche communities of clients to serve.
The presentation was enlightening and Bob goes into detail on his theory, as well as many other revelations in his new book named The New Profession. In our opinion, the book is excellent and is a must-read for financial professionals.
Finally, Rob Major spoke on the topic of identity fraud in a presentation named “The $100,000 Lesson Learned.” He shared a true story about how a client of a well-established RIA firm was victimized by a fraudster, and how and why the RIA was responsible for paying the money back.
Again, we can’t say enough good things about the T3 conference and hope to see you next year in Ft. Lauderdale, FL for the 2018 conference. It will be held February 6-9, 2018 at the Marriott Harbor Beach Resort and Conference Center.