Since wealth management is about making connections with people and getting to know them, advisors and firm leaders should apply that skill set when evaluating wealthtech.
In addition to testing the platforms, learn about the key personnel running those tools.
Tech leaders who can communicate well – and give you confidence that they understand what matters to you, your firm and your clients – are more likely to have tech products that will work for you, your firm and your clients. Conversely, you might want to reconsider adopting platforms run by people who don’t give you such confidence.
Wealthtech tools for RIAs and IBDs must provide useful solutions that independent advisors face, and deliver enhancements in response to advisor and firm-level feedback. That can only happen if the people making the technology, and their leaders, are aligned with you, their client.
FusionIQ launched FIQ Market One on the FusionIQ One platform. It provides access to investment opportunities and features white-labeled, unified advisor and client portals. The firm also recently expanded its consulting team with the addition of John Phillips as Senior Strategic Advisor. Last year FusionIQ forged a strategic alliance with Valley National Bank and a strategic integration with Blueleaf, a provider of billing, reporting and client aggregation tools.
WSR: How does the addition of John Phillips as Senior Strategic Advisor align with FusionIQ’s growth strategy?
Healy: John is an outstanding addition to the dynamic team we’ve built at FusionIQ. 2023 was a breakthrough year for FusionIQ with our all-in-one cloud-native wealth management platform emerging as a leading solution in the bank and credit union sectors. In 2024, we’re looking to build on those successes and take a leadership position in the broker-dealer, family office and RIA sectors, becoming the go-to solution for firms looking for profitable organic growth. John’s relationships, expertise and experience in those sectors will be vital as we deliver the easy to implement products firms need to win in competitive markets.
WSR: What kinds of advisor-related enhancements and integrations is FusionIQ working on in 2024?
Healy: We’re launching several new products this year. FIQ Journey brings together Hybrid Digital Advice and Self-Directed Investing into a single investor journey. FIQ Market One digitally onboards investors to a single market to find and invest in digital assets, SPV and alternative funds, private investments, and ETFs through unified advisor and client portals. It also gives asset managers a digital channel to distribute their products. Lastly, FIQ TAMP+ brings together our frictionless cloud-native wealth management platform with advanced portfolio management technology to deliver the modern advisor and client experience, flexibility and efficiency firms need to scale for profitable growth.
WSR: In general, what types of wealthtech solutions are advisors and their firms most in need of to achieve scale?
Healy: Advisors and their firms need flexible, easy-to-implement wealth management products that streamline operations through a single digital workflow that seamlessly connects the front, middle and back offices. Together with process automations, these end-to-end workflows create the efficiency needed to profitably scale for growth. Cloud-native wealth management platforms like FusionIQ One simplify the tech stack for firms, not only creating the efficiencies firms need for organic growth, but reducing operating costs, and delivering the modern digital experience clients and advisors want on the device of their choice. Solutions also require experienced teams that can bring fin and tech together.
