While the rest of the world offers free software like YouTube, Adobe, Evernote, Spotify, etc., financial services has resisted. I recently joined The Sara Grillo Podcast to discuss how this model may just be the future of financial adviser software.  You can follow the link below to listen to our conversation:

The old saying “you get what you pay for” isn’t always true, especially when it comes to technology applications for the financial services industry. Independent financial advisers shouldn’t automatically dismiss free software as inferior to paid solutions. 

Although there has been much media coverage in recent years about the decline of referral marketing as the primary source of growth for financial advisory practices, referrals are critical for ensuring the success of independent advisers’ businesses.

One of the most powerful advantages financial advisors has over robo advisory platforms is also the most obvious—being human. “The human touch” is more than just an expression in today’s wealth management industry, especially during periods of severe market volatility, like what we witnessed in early February.

Just as independent financial advisers need to provide clients with the personalized experience they want in order to keep their business, advisers have to engage with prospects on the latter’s terms in order to convert them to clients.