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November 20, 2019 at 10:19 PM
Technology Tools for Today
Top Executive: Joel Bruckenstein
I see that Bob Veres had his doubts about the mobile revolution two years ago. I’m wondering what, in retrospect, he missed. That might give us a clue to what we’re missing now.
Also, are we sure that we can declare the mobile revolution an official success?
Yes, everybody seems to be buying tablets and, yes, companies like Fidelity, Orion, Black Diamond are creating mobile apps. But does that all add up to a breakthrough? Creating a mobile capability is not such a huge undertaking. Buying a tablet is cheap. So are providers just ticking it off the list — and consumers/RIAs buying a toy? Are there signs that it’s a difference maker in winning advisors and their clients?
In my opinion, advisors who do not adapt and incorporate mobile platforms into their client service delivery will lose interest from the next generation of financial planning clients.
Paper and face-to-face meetings are what most Baby Boomer clients seek, but those tools and experiences will fall flat for advisors looking to target clients who are accumulating wealth in the Digital Age.
My planner lives 2,000 miles away. I work with him because he’s the best planner for my family, not because his office is a convenient drive from my home.
Bill @ <a href="http://fppad.com" rel="nofollow">FPPad.com</a>
Brooke, great question, short answer is no. I believe strongly in technology, but the danger, in my humble opinion, is not bringing personal value to the client, which is why I say we can’t officially call it a success yet. We have a generation coming up that for what must planners consider cutting edge technology is just a given. What they want to see is what personal value do you bring to the technology. I don’t think we are there yet, nor do I claim to know what that really looks like. But that would be a success.