For this episode, we are going to discuss technology in the financial industry. Tim just came back from the Money Experience Summit presented by MX, and he was eager to share his thoughts. He talked about the state of the Financial Services tech and Wealth tech landscapes. Just like the healthcare system, the financial industry has so much data, but the old infrastructure and tech systems have slowed the industry down in terms of using this data more efficiently and ultimately helping clients. Nowadays, there are more and more so-called "financial planning" apps available, and people ask us, why do I need you? Because what the apps can give you is just raw data, but how do you understand the data? What does it mean? How do they apply to you specifically? My best friend and I both have the same income, but she might need to help with her parents' retirement and I don't; having a house is a must for her, but I'm happy with my 2B/2B condo for the long term. Dollar value means absolutely different things to everyone. Financial planning is an intimate process. Spoiler alert: LBW is ahead of the industry, and we are determined to break down the old infrastructure and build a whole new world！
