Robo-Advisers Are the Latest FinTech Trend

A recent study by CFA Institute shows that an interest in robo-advisers is on the rise. UBS recently bought a stake in SigFig Wealth Management, a robo-adviser, and other major financial institutions are either developing their own technologies or partnering with other fintech firms. Technology is changing how investors get information and make financial decisions.

As discussed in “Robo-advisers on the rise, CFA survey shows,” posted by Imogene Wong on, there is a difference in perception for the reliance on peer-to-peer lending or robo-advisers. Survey results from 775 CFA members representing the Americas (56%); Europe, Middle East and Africa (27%); and Asia-Pacific (17%) suggest that financial organizations in the Americas believe that robo-advisers will have a larger influence while Asia-Pacific respondents felt that peer-to-peer lending will have a bigger impact.

The largest financial organizations are turning to fintech tools, whether they develop the new technology themselves or outsource it. UBS America’s wealth unit recently invested in robo-advisor SigFig to develop new wealth management tools. Blackrock also acquired Future Advisor, a robo-adviser, and Deutsche Bank is offering a robo-adviser service on their  online investment platform. Morgan Stanley and Bank of America are working on their own technology and Fidelity is testing a robo-adviser service.

ERP and CRM Support Client Needs Today

The CFA suggested that high net worth clients would not likely use these automated services as they often require more complex and tailored advice. However, automated financial tools can save time, cut costs, and improve access to advice and product information. Banks and wealth management organizations can use other technology to support their clients, such as an enterprise resource planning (ERP) solution and a customer relationship management (CRM) solution. Both ERP and CRM can streamline common tasks, make it easier to collect and access detailed client records, and provide the insight needed to respond faster to marketplace changes or client demands.

Modern ERP and CRM solutions can strengthen sales activities, improve productivity, and provide real-time client data to the advisers on the front-line. Business intelligence features support comprehensive analytics and reporting needs and, armed with the right insights, your team can fulfill client needs quickly and efficiently. Contact AKA Enterprise Solutions to learn how ERP and CRM can support client needs now, while other fintech options are in the developmental stages.

By | 2018-07-06T17:41:51+00:00 June 10th, 2016|Uncategorized|0 Comments
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Contributor: AKA Enterprise Solutions

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