Tech takes centre stage at FPA Congress

FPA technology fpa congress financial planning fintech tech financial planning association Benjamin Marshan Dante De Gori

22 November 2018
| By Hannah Wootton |
image
image
expand image

Technology was a focus of the first day of the Financial Planning Association’s (FPA’s) Professionals Congress yesterday, with the organisation both releasing a fintech buyers guide and announcing a new app offering to match consumers with appropriate planners.

The Fintech Buyers Guide and Checklist was geared at helping planners assess their practices’ fintech needs, including a technology assessment checklist and tips for selecting the right technology partner to help improve financial advice delivery.

“We know business models from the past are not working efficiently in an environment of increasing costs, rising consumer expectations, and regulatory obligations; but it is equally clear that if technology investment doesn’t align with the financial planning process and business outcomes, it leads to inefficiency, duplication and additional cost,” FPA head of policy and standards, Benjamin Marshan, said, highlighting the need for fintech adoption.

“Technology must solve problems, not create more … Going through the checklist will help prevent wasting time and money on technology which won’t meet their needs, or those of their clients,” FPA chief executive, Dante De Gori, added.

The guide was a result of conversations with FPA members, consultants and fintech solution providers over the last year.

The FPA also announced its new online matching service, ‘Find a Planner’, which was slated for release early next year. The service would match consumers online with a financial planner based on a profile of money and life goals, rather than just location.

Consumers would be able to dictate how many planners matching their profile they’d like to contact them, while FPA members would be able to choose if their services are a good fit before responding to consumer match requests via an app.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

2 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 7 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 5 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 8 hours ago