As we reflect on what an impactful year 2017 was for the FinTech industry, we’re thrilled at the prospect of even more innovation in 2018. With a new year upon us, we are refreshed and eager to make some exciting updates to the IFS platform and solutions. In the spirit of some of 2017 and 2018’s industry and IFS buzzwords, here is a glimpse of what we have planned for the IFS platform and solutions for the coming year:
It’s no secret that consumers are demanding more and more from the brands they interact with, and their financial advisors aren’t exempt. To keep up with this demand and help you deliver the best client experiences, we’re chasing the holy grail of seamless onboarding for ALL accounts in 2018.
In a similar vein, integration continues to be critical as technology becomes more advanced and tech users demand seamless experiences. We’re committed to ensuring that our platform can integrate with any other systems your firm and advisors use. This will result in more seamless, integrated experiences in 2018.
As robo-advisors become more prevalent, we’re focusing on “intelligent automation” in 2018. This means simplifying and automating the tasks that anyone (or thing) can do and leaving the complex for the advisor. As a result, advisors can focus on the parts of the client experience that require more guidance, thus building trust and adding value. Meanwhile, basic investment needs can be met by robo-technology.
Speaking of empowering advisors, we’re committed to ensuring that advisors have the tools they need to add as much value to client relationships as they can. As a result, we are rolling out numerous features and functions to your client portal that advisors can take advantage of. Stay tuned for more!
While this one isn’t a specific product update, we know that if there’s anything that’s a constant in financial services, it’s change. There will always be ‘disruptors’ transforming the landscape (think: blockchain). Rather than fearing the unknown in 2018, we’re staying agile by learning about these disruptors and planning for them and their impact on wealth management and FinTech.
This year, we also expect to see smaller Broker Dealers merging with or selling to larger ones. Less BD players leads to increased costs and pressures on advisors to prove the value of their services. In an effort to share costs, diversify skills and share technology capabilities, we think single-advisor practices will opt to join advisor teams, more than ever before in 2018.
We think 2018 will be another exciting year, both for IFS and the greater FinTech landscape. We’re looking forward to sharing more details on these product updates and trends as they unfold!