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Between Now and Success

We interview top financial advisors and visionary voices to bring you the strategies, tips, and tools you need to make a difference in people's lives. So rope up and get "On Belay" as we climb the summit to success with your host and Chief Belayer, Steve Sanduski.
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Now displaying: March, 2018
Mar 19, 2018

Historically, the financial advisory business has been about a story of numbers. Today, it’s about a number of stories, say Mitch Anthony.

Of course, good advisors always knew that viewing our industry as a matter of number-crunching was just a fairy tale. And today, revolutions in technology and an aggressive marketplace have made that fairy tale ancient history.

Instead, pioneers in life-centered financial planning, like noted author and speaker Mitch Anthony, want to refocus our industry on a different story: the client’s.

How? By having better conversations that take place where money and life intersect.

Mar 12, 2018

If you are in the “inform” business, and not the “transform” business, you won’t be long for this business.

Technology services are quickly chipping away at the value-stack financial advisors offer to clients. There may come a time when, “I turn on my phone and I say, ‘Hi, Alexa. Tell me what my bank account is today. Transfer $10,000 from Bank A to Bank B. Open a 529 plan for my kid. Then, rebalance my brokerage account.’ And tell me how I'm doing against my goal of buying this house,” said Lex Sokolin, Global Director of Fintech Strategy and Partner at Autonomous.

In this near future world, you won’t need MoneyGuidePro, e-Money, or Advicent. Instead, “You have a more modern architecture, so you don't have a UI. You might have APIs that allow machines to talk to each other. Then, you can plug that into all sorts of chatbots for conversational interfaces,” said Lex.

Lex isn’t describing some crazy sci-fi dystopia. Rapid advancements in AI, algorithms, chatbots and a host of other technologies is bringing planning services to your favorite digital friend faster than you may think. And if Amazon, Google or some other behemoth decides to get into our business in a big way, well, you can forget about competing by using technology as a differentiator.

There is only one ultimate differentiator; it is your ability to help transform people’s lives.

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