Rethink: The Financial Advisor Podcast Episode 25: Are the Right People Building Fintech?Â
Historically, has FinTech been designed by the wrong people or at least without the input from more of those who would actually use the product? Adam Holt and I think so and ask & answer this and other questions from the perspective of advisors who turned into fintech founders.
When FinTech is designed by the people who are actually going to use the solution, it becomes far more powerful. FinTech that is built by the right people, i.e. professionals, is a trend we’re seeing more of now than ever before. Not saying the wrong people have been building tech and in fact a lot of amazing tech has been created by those that serve advisors while never having been one themselves. But as advisors we have felt a certain void with some tech.
As FinTech CEOs, Adam and I both developed tech solutions to solve problems we were facing in our careers. The best way to build a product is to put yourself in the shoes of the person who needs it most. The best way to know your customer is to be your customer.
In our latest episode of Rethink, we discuss how, when I came up with Conneqtor, I was solving a problem I once faced myself. When Adam started Asset-Map, it was the solution to a specific problem he was experiencing as an advisor. We both had pain points as advisors, and our FinTech products were designed to address them. Together, we recount our journeys with tech innovation and discuss how advisors are creating and leading the latest FinTech.
To summarize, Adam and I discuss:Â
- Why adoption is the new innovation
- Who is designing the solutions to financial advisors’ problems?
- How Conneqtor went viral
- The problem that Asset-Map solves
- How the best innovations come from field testing
- Whether all-in-one platforms are going to solve all advisor problems
Resources:
- Follow RethinkFA on LinkedIn
- Episode 9: Rethink: Advisor, Adviser or Advicer – featuring Michael Kitces
- Episode 20: The Risk of Advisor Complacency Featuring Aaron Klein
Connect With Derek Notman:Â
- Conneqtor
- LinkedIn: Derek Notman
- LinkedIn: Conneqtor
- Twitter: Derek Notman
- Twitter: Conneqtor
- Facebook: Conneqtor
- YouTube: Derek Notman
Connect With Adam Holt:
- Asset-Map
- LinkedIn: Adam Holt
- LinkedIn: Asset-Map
- Facebook: Asset-Map
- Twitter: Asset_Map
- YouTube: Asset-Map
You can listen to the podcast below.