Michael Kitces and a host of other speakers will share insights at a one-day live virtual event that will provide speed demonstrations of the latest in financial tech for advisors.
AdviceTech.LIVE, scheduled for September 29 from 11 am to 6 pm Eastern time, is being organized by H. Adam Holt, CFP, and his team at Asset-Map, a tech company Holt founded. In addition to featuring fintech, the conference also has a goal of raising $50,000 for benefactor partners.
The event includes four panels of experts shaping the industry. Kitces and Carl Richards, founder of The Society of Advice, will debate the current state of advisor-facing technology and the direction of the market. Meg Carpenter, CEO of FiComPartners, will lead a discussion on engaging advisory firm clients with authentic marketing, education and advocacy. Mac Gardner, CFP, founder of FinLit Tech, will lead a panel on how advisory clients are changing and meeting evolving needs. Lazetta Rainey Braxton will moderate a panel on how advisors can help consumers make better financial decisions.
In between the panels, more than 20 fintech providers will demonstrate advisor-facing technology built over the last 12 months that addresses the 2022 conference theme: “Financial Empowerment through Advice.”
Some of the firms that will provide 10-minute demos that may be of interest to Rethinking65 readers include:
Asset-Map’s demo will cover retirement income, financial wellness and long-term-care analysis. Financial professionals use the Asset-Map platform to build a holistic view of a household’s financial picture, empowering people to make better financial decisions. As a result of input from advisors, Asset-Map is introducing Questionnaires, a way for advisors to send custom queries to households via mobile devices to collect and send information directly to the Asset-Map platform.
Bento Engine’s demo will cover financial wellness, financial freedom and how financial learning can and should start early. The demo will show advisors how to systematically connect with the next generation of a client’s family using age milestones that matter to the kids. For example, some of that outreach might be “Let’s get your working papers when you turn 14,” or “Let’s open a custodial IRA account in your name,” or “Let’s have you learn and appreciate the power of tax-deferred compounding for decades to come.”
Econiq’s demo will feature its new patented Conversation Hub. The hub enables advisors to visually communicate more effectively while keeping their clients focused on topics such as tax issues and advisor fees.
FP Alpha enables advisors to offer advanced planning at scale, complementing traditional retirement software.
Its AI-driven software allows advisors to upload tax returns, wills, trusts and insurance policies to summarize key data, identify actionable planning opportunities, and quantify the value of their advice to drive optimal planning outcomes. This process assists advisors in efficiently delivering holistic planning — offering it not just to the ultra-high net worth but to all clients — to achieve true financial wellness.
fpPathfinder’s Interactive checklists empower advisors to introduce financial planning topics and uncover planning needs efficiently. The checklists allow advisors to engage clients before meetings to collect important information that paves the way for memorable, high-quality, personalized client experiences. fpPathfinder offers 50+ checklists that facilitate proactive conversations that focus on various financial planning concepts, including retirement-income planning and tax issues.
IncomeConductor’s demo will cover retirement income, financial freedom and comparisons of living costs in various states (in retirement). IncomeConductor is an intuitive retirement-income planning and management tool that allows advisors to engage their clients in creating written plans (not probabilities of success). The plans provide clients with the confidence that they can retire without running out of money. The platform also provides an extensive analysis of healthcare expenses and longevity projections.
Lasso offers a simple, social app that helps consumers plan for their financial goals and then interact with advisors who, through the platform, get to demonstrate how their expertise might let the consumer achieve their goals more quickly or more cheaply. Both sides get to test drive the advisor-client relationship before committing to their “perfect match,” resulting in better leads, better conversations and better outcomes.
Morningstar Office is all-in-one portfolio accounting and practice management software. Among other tools, it includes Total Rebalance Expert (TRX), which offers tax-loss harvesting and capital-gains-distribution avoidance features that help advisors increase after-tax returns for their clients. Its GoalBridge goal-planning module enables advisors to select education as a goal, and within that, choose from a comprehensive list of colleges and universities to pull in up-to-date tuition and fee information. This ensures that financial goals are realistic and relevant, while also being quick and easy to set up.
Pulse 360 offers a remote-ready SaaS suite that can make every aspect of fiduciary meeting prep and documentation much more efficient. The company plans to showcase a new feature — Pulse360’s Rephrase — that can change how financial advisors communicate with their clients by providing an easy-to-use interface for shortening or clarifying written advice. With Rephrase, advisors can simply type their advice and have the AI suggest a shorter or clearer way to write the same. This allows advisors to focus on putting the main points across and letting the AI formulate it in a more digestible written communication.
Tolerisk offers financial wellness through its risk tolerance assessment software.
The company will show how its platform helps advisors assess a client’s combined risk tolerance (willingness to take risk) and risk capacity (ability to take risk). These measures support advisors’ need to guide their clients’ investment decisions from an overall wellness perspective.
Click here to register for AdviceTech.LIVE.