ThinkAdvisor: Advisors' Real Weapon Against Robos Isn't Tech
ThinkAdvisor recently interviewed Jefferson National CEO, Mitch Caplan, to gain insight on the ideas presented in a panel discussion at Peak Advisor Alliance’s fall Excell conference. The article focuses on why advisory firms should not shy away from adopting technology. According to Caplan, adopting technology can enable advisors to stand above their competition by helping showcase their true differentiator: human capital.
Caplan expands upon this notion stating, “Part of that is the passion you can bring to the client because you’re not a robo, and part of it is the intellect that you can bring and how you think about things that are not always quantitatively addressed. That’s your skill set. Think of that as the engine driving the train.”
Furthermore, technology allows advisors to create a more scalable platform— while also helping advisors breakeven and grow profits more quickly, Caplan notes. He goes on to cite findings from Jefferson National’s inaugural Advisor Authority study, highlighting tech habits of the most successful advisors; their best practices for effectively adopting technology.