This week on WealthTech Unwrapped, Evan Kulak, co-founder and wealth advisor at Polaris Financial, joins Ned to discuss the FinTech evolution in the US. They dive into the adoption of tech in the credit union and community bank space, and what it means for advisors and their clients.
As Polaris Financial focusses on credit unions and community banks as clients, Evan speaks about the impact of these institutions incorporating technology and innovation into their advisory offerings. He shares that credit unions and community banks might not view wealth management as their core competency, but these institutions are gradually moving toward partnering with emerging FinTechs to stay relevant.
Going further into digital transformation, Evan and Ned agree that the term “Robo-advisor” fails to capture the value of its technology. It pushes the dichotomy between digital and human advisors. Evan believes that the tide is turning on the advisory process as clients are increasingly demanding quicker turnarounds and more personalized services. This is a good opportunity for advisors to take advantage of technology to provide a truly comprehensive financial planning.
