Jason talks to Ian McKenna, founder of advisersoftware.com. Ian is a guru of advisor technology in the UK and has a great lens on both the UK and technology around the world. He is here to capture his and Jason’s casual and informative discussions about the industry's past, present, and future, offering listeners a valuable perspective on the fintech landscape.
Episode Highlights:
- 02:08: Ian introduces advisorsoftware.com, initially focused on UK advice technology but evolving into a global platform to address the international nature of financial planning.
- 03:48: Jason and Ian plan to delve into various topics, starting with the evolution of software in the UK and then expanding to a global perspective.
- 05:16: Ian envisions a future where Fintech seamlessly integrates into everyday digital life globally, making it the norm rather than a separate entity.
- 11:57: Jason and Ian explore the irony that tougher regulation, especially in consumer protection, has proven beneficial for financial advisors' success.
- 13:29: Jason reflects on the future landscape, where technology becomes an integral part of every business, echoing the sentiment that companies will be either technology-driven or obsolete.
- 15:18: Ian reflects on the impact of greed in past generations, citing the shift from nationalized utilities to the privatization of shares, ultimately leading to profit-driven organizations.
- 19:39: Jason discusses the global trend in regulation, praising Australia's commitment to the right end state despite occasionally going too far. He acknowledges the UK's balanced approach and the US's focus on the fiduciary duty.
- 23:32: Ian discusses the challenge for US vendors in scaling globally, emphasizing the historical tendency to prioritize the US market and the increasing competition from Australian companies that build with a multi-jurisdictional approach.
- 31:59: Ian shares tricks, such as withholding data, to encourage technology use. He expresses his passion for creating enabling solutions through technology, emphasizing flexibility in savings options.
Key Points:
- Ian McKenna discusses the evolution of advisorsoftware.com from a UK-focused platform to a global solution for international financial planning.
- Jason and Ian explore challenges faced by banks entering advisory services, regulatory dynamics, and the positive impact of stricter regulations on financial advisors' success.
- The conversation highlights the increasing importance of technology, envisioning a future where it seamlessly integrates into daily business operations globally.
Tweetable Quotes:
- "Companies will either be technology-driven or obsolete in the future financial landscape." - Jason Pereira
- "Financial advice should be a utility accessible to all through technology, not a luxury reserved for the wealthy." - Ian McKenna
- "Flexibility in savings options, like Micro Savings, can empower individuals to save more through technology." - Ian McKenna
Resource Mentioned:
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