“Financial services (and particularly asset & wealth management) [are] beginning to be disrupted much like retail, publishing, journalism, music, & travel industries.”
While specific discussions were off the record, this was the #1 high-level trend addressed at this year’s Tiburon CEO Summit XXVI, an executive event that brought together the leaders in financial services and technology to discuss the industry’s most important topics.
Hearsay Social’s very own CEO Clara Shih joined executives from across the financial services industry, including Mark Casady (CEO, LPL Financial), Mary Mack (President, Wells Fargo Advisors), Jeff Saut (Chief Investment Strategist, Raymond James & Associates), Jon Stern (Managing Director, Berkshire Capital), and Bill Van Law (President, Investment Advisors Division, Raymond James Financial), onstage to tackle many of these topics and trends.
Clara provided a contrarian “pro-advisor” view amidst an interesting panel of mainly “robo-advice” entrepreneurs Bill Harris (CEO, Personal Capital), Jon Stein (CEO, Betterment), and Alexa von Tobel (CEO, LearnVest). Afterward, industry leaders Mark Casady (CEO, LPL Financial), Mary Mack (President, Wells Fargo Advisors), Scott Curtis (President, Raymond James Financial Services), and Mark Tibergien (CEO, Pershing Advisor Solutions) validated the importance of technology in keeping up with ever-changing client expectations as well as being able to recruit and retain the next generation of advisors.
In fact, this was the second most important underlying trend discussed, on a list of 50 trends shared by Tiburon: technology powers the future of financial services. From products to channels to digital marketing and social media, technology is changing how asset and wealth managers engage with both current and prospective clients.
Among the hundreds of financial and technology leaders in attendance, it was refreshing to see the industry’s commitment to embracing new technologies and innovations in order to move business forward.