Wealthtech is more than the application of technology to financial planning. It represents a profound transformation that’s fundamentally altering the terrain of wealth management. Empowered by sophisticated technology, wealthtech is bridging gaps, personalizing services, creating efficiencies, and offering in-depth insights for a significantly elevating the investor, advisor and back-office experiences.
As an offspring of the digital age, the wealthtech industry also sees consistent waves of innovation that continually shake up the market. As these trends emerge, the quality and availability of data are transforming into vital factors—not only for helping individual startups stand out in an increasingly crowded field but also for the success of the wealthtech industry as a whole.
How the Industry Defines Wealthtech
As a branch of fintech, wealthtech is an evolutionary step forward for the financial services industry.
Tools like robo-advisors, digital wealth management platforms, online investment platforms, and others are rapidly changing how consumers think about their money—and how wealth managers engage their clients.
As a branch of fintech, wealthtech is an evolutionary step forward for the financial services industry. Tools like robo-advisors, digital wealth management platforms, online investment platforms, and others are rapidly changing how consumers think about their money—and how wealth managers engage their clients.
Key segments of wealthtech include:
- Advisortech : Designed to help registered investment advisors (RIAs), financial planners, wealth managers, and independent broker-dealers increase the quality and efficiency of services to clients.
- Investment tools and platforms : Allowing businesses and individual investors to better manage their assets through access to financial data and information, research, educational resources, and other investment tools
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