Preparing for the People-Centered, Technology Enabled, Financial Planning Engagements of the Future-Session recording

Video Transcription

Video Summary

The keynote speaker, Dr. Ajamu Loving, discussed the importance of integrating financial technology, or fintech, into financial planning practices. He emphasized the benefits of using technology to enhance client experiences, streamline operations, and provide more personalized services. Dr. Loving highlighted several fintech tools that can be used, such as robo-advisors, behavioral biometrics, gamification, virtual reality, financial education apps, and more. He stressed the need for financial planners to evaluate their current business processes, define firm objectives, understand client needs, consider integration and compatibility, and conduct a cost-benefit analysis before implementing fintech tools. Dr. Loving also discussed the importance of monitoring and adapting to changes in technology, as well as avoiding common mistakes such as neglecting training and support, ignoring compliance and security, and neglecting data quality and governance. Overall, Dr. Loving emphasized the potential benefits of integrating fintech into financial planning practices, but also stressed the need for thoughtful planning and evaluation to ensure successful implementation.

Keywords

financial technology

fintech

financial planning

client experiences

streamline operations

personalized services

robo-advisors

virtual reality

financial education apps

implementation planning