On this episode of WealthTech Unwrapped, Ned chats with Tom Schapira, Chief Executive Officer of Imagine Capital Group and Investment Banker of Financial Technology, Real Estate & Venture Capital at Regiment Securities. Together, they delve into the intricate world of advisor technology, exploring the nuances required to cater to diverse markets around the globe.

Gain insights into the complexities of this ever-evolving landscape and discover the strategies employed to meet the unique needs of different markets.

When it comes to wealth and advisor technologies, Tom observes that legacy companies continue to maintain dominance due to their strong customer loyalty. While these companies may not have possessed cutting-edge technology two decades ago, they have made gradual improvements over time. For instance, they have transitioned from older programming languages like C++ to more modern ones, such as Java and dot net. They consistently adapt to the latest iterations available and excel in integrating their systems, thus establishing themselves as the foundation of WealthTech ecosystems.

Regarding Advisor Technology, Tom emphasizes that there exists a distinction in customer behavior between the Eastern and Western regions, considering the cultural inclination of customer segments towards technology adoption. In the United States, customers across different generations exhibit their individual preferences for technology usage, but the demand for advisors varies depending on the specific needs of each generation. Conversely, in Asia, customers tend to be more self-directed, and individuals with a high net worth or ultra-high net worth rely on the wealth management services offered by banks, establishing a trusted relationship with them. Nevertheless, these variances across markets simply represent different tiers in the market dynamics.

Tune in to this enlightening discussion, only on WealthTech Unwrapped!