CFA Society of Philadelphia’s FinTech Panel Recap

Recap of FinTech Panel RobustWealth

The three biggest takeaways from our founder’s panel on fintech

Did you know that 82 percent of financial institutions expect to increase their fintech partnerships within five years?

With the fintech revolution in the beginning stages, the CFA Society of Philadelphia felt it was imperative to shine a spotlight on this disruptive sector at a recent event. RobustWealth founder Mike Kerins took part in a lively fintech-centric panel discussion in front of a packed lecture hall at Villanova University. He was joined by fellow industry thought leaders Mark Friedenthal, founder and CEO of Tolerisk, and J. Womack, Head of Investment Strategy of Captial Preferences.

Top discussion points of the night included the evolution of the fintech space, regulatory considerations and the economics of a fintech company.

Of all the great advice and insight for CFAs – and advisors, in general – here are Mike’s top three soundbites from the event we wanted to share with you:

  1. Traditional trading practices have been upended by robots.

“At the end of the day, a human cannot compete with a computer when it comes to punching out these calculations and rebalancing a portfolio in a way that makes sense for each client,” Mike said.

Thanks to technology, advisors are able to increasingly rely on algorithms to handle complex trading that they don’t always have time for. A prime example of this is the tax loss harvesting capabilities available on our platform, which rebalance portfolios with potential tax consequences in mind.

  1. With fintech, there is greater flexibility to serve the end client.

When asked about the regulatory issues that can ensnare robos, Mike explained why RobustWealth is a true fiduciary.

We make no referral arrangements, no commission for products on the platform and we’re constantly working to decrease your workload to lower the cost for the end client. The nature of the fintech landscape allows us to act in your and your clients’ best interest, always.

  1. Lacking an expertise in finance doesn’t preclude you from the fintech revolution.

As fast as the financial services industry changes, fintech is moving at lightspeed. To keep up with the demand and continue to develop the best financial technology, the industry is always in need of sophisticated coders, software engineers and web developers. There’s an insatiable need for this type of talent in our industry, and you shouldn’t be discouraged to jump in just because you lack a background in finance.

We’re honored to have been a part of this fantastic FinTech panel and would like to thank the CFA Society of Philadelphia for shining a spotlight on an important topic. The fintech space is still in its infancy, and we’re excited to be playing a transformative role as it evolves and becomes more and more mainstream.

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