In 2015, we saw a number of robo-advisors join with major financial services firms as well as a couple of big financial services firms launch their own robo-advisor service. So far, 2016 has started off with a large banking group, BBVA Compass, partnering with robo-pioneer FutureAdvisor to offer a digital platform to customers.
Based on its sustained growth over the past year, the fintech industry could experience even greater growth moving into the coming year. Financial technology targets a number of areas within the financial industry, including payments and wealth management.
The 1% continues to receive flack across the globe, as income disparity is one of the hottest financial topics worldwide. Whether or not you think that criticism is deserved, there’s one thing that can’t be denied: the super-rich know how to grow their wealth.
Technology hasn’t slowed down to wait for the outdated insurance industry to catch up. Everything from self-driving cars, big data, and sharing economy platforms have tremendous potential to disrupt the industry, and we’re seeing the growing pains manifest already.
If you like risk or if you see this as a risk-on environment, then you should consider looking into high-multiple tech stocks. They tend to perform best in risk-on environments. Investors are anticipating future growth, which increases the odds of stock appreciation. That said, it’s not that simple.
As a financial advisor, you’re a guardian and guide for your client’s financial well-being. But when it comes to philanthropic giving, many advisors cede that role and avoid engaging their clients on the subject. Don’t make that mistake. If you have a client inclined to philanthropy, you have a responsibility to guide them in that process.