Between Now and Success Financial planning will become extinct and replaced by this with Phil Cunningham
Financial planning as practiced today is going away and will be replaced by an entirely new way of interacting with and delivering value and connection to clients. The days of offering a free financial plan in order to snag AUM are done.
In today's show, I chat with Phil Cunningham, CEO of Advicent, the global provider of SaaS technology solutions for the financial services industry. You may know them better through their products including NaviPlan®, Profiles™ and Figlo™ financial planning tools, the Advisor Briefcase® marketing tool and the Narrator™ application builder. Advicent has about 100,000 advisor clients across North America so Phil has a bird's-eye view of what's happening in the fintech space.
Our conversation covers the spectrum including:
- The changing role of the financial advisor (See: Going beyond money management to make a deeper client connection).
- How advisors can stay relevant and add value.
- The impact of technology on the client experience, managing your business, marketing it, and advising clients.
- What "big data" means for advisors and how you'll benefit from it (See: Jud Bergman discussing big data).
- Where financial planning fits into the equation and how the definition of financial planning is changing radically.
- What you should do with Robo-technology to benefit from it instead of being threatened by it.
- How to compete against a big brand like Vanguard.