Technology
The recent acquisition of MoneyGuide Pro by Envestnet deserves our attention and an analysis on how technology can make us better advisors. We will try and answer that question and consider how past technology solutions worked. Our life outside of wealth management has definitely been improved by technology, thank you Steve Jobs. Wealth management is different. We will try to explain why. Wealth management is multifaceted which creates challenges for technology solutions. We will look at three main areas of wealth management and discuss how technology can help our transition to the future. Investments Technology and the availability of data have improved dramatically. What we do with all of this new data can be overwhelming. Do any of us actually read the footnotes in financial statements? Better yet do we understand how to evaluate the footnotes? If your answers are yes then you won’t need a guide. If your answer is yes and you are male...