Your Industry  

Fintech is reshaping the delivery of advice

    Fintech is reshaping the delivery of advice


    A vast proportion of the population has smartphones and the facilities capable on these mini-computers are growing exponentially.

    Online banking is the norm for many people, and mobile banking is becoming acceptable for increasing numbers.

    In the adviser world, technology is also having an increasing impact. Platforms have long been the norm for many an adviser; now the talk is of robo-advice.

    Many feel automated advice of some sort is the answer to the advice gap created by the disappearance of the banks from offering advice and the move up the income scale by advisers.

    But questions remain whether it will be as disruptive as some fear. Some would argue that robo-advice, or the use of algorithms to point rookie investors in the right direction, could threaten the livelihoods of financial advisers; others point out that a human is always needed somewhere in the chain, and that they could complement, rather than replace real financial advisers.

    Smartphones are taking over in a different way. There are forecast to be 46.4m users in the UK by 2018 up from the 36.4m already owned in the latest figures available in 2014.

    If there is anything consistent in the way technology changes, it is that it is changing rapidly, and what may seem like the dominant technology, and the company providing that technology an unassailable behemoth, can soon become outdated and overtaken.

    So, technology companies meanwhile are chasing what they think might be the next big thing - currently virtual reality, while nervously looking over their shoulder for unexpected challengers coming out of nowhere.

    These are the consequences of living in a digital age - the best chance of survival is to stay informed.

    Melanie Tringham is features editor of Financial Adviser

    In this special report


    Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

    1. According to Brett Williams, execution-only services cannot be counted as robo-advice; true or false?

    2. By 2020, how much in dollars will robo-advisers be running, according to Brett Williams?

    3. How will robo-advice benefit advisers, according to Brett Williams?

    4. According to Dave Millett, what was Blackberry’s market valuation 10 years ago?

    5. What future device has Apple already filed patents on, according to Dave Millett?

    6. According to Dave Millett, what is one of the pitfalls of VoIP call recording solutions?

    Nearly There…

    You have successfully answered all the questions correctly, well done!

    I completed this CPD in

    To bank your CPD please complete the form below.

    Were the stated learning objectives met?

    Why weren't they met?

    What did you learn from undertaking this CPD exercise?

    Why did you undertake this piece of learning?

    Any comments about this article or FTAdviser's CPD in general?


    Congratulations, you have successfully completed and banked this piece of CPD

    Already Banked!

    You have already banked for this article.

    To bank your CPD you must sign in or


    One or more questions have been incorrectly answered,
 please review your answers and try again.

    Please complete all the above text fields to bank your CPD.

    More Your Industry CPDSee my completed CPDSee all CPD