Fintech Corner

Financial advisors looking for software to add to their technology stack would do well to seek out providers who engender a culture that supports client success.

“It’s important that financial firms be willing to look outside their realm for fresh perspectives and new ideas,” said Adrian Johnstone, president & co-founder of Practifi.

For financial advisory firms to get their technology up-to-date at an institutional level will require some form of data Rosetta stone. That’s where Practifi, a Sydney-based Australian fintech making inroads among U.S. wealth managers, can help, said Adrian Johnstone, the firm’s chief commercial officer.

Over the past two decades, advisors embraced education and learning as a powerful tool capable of attracting new prospects, transforming existing prospects to clients and keeping current clients engaged.

Financial firms potentially have tens of trillions of pieces of data available to them today, much of it portfolio and demographic data about their clients—but there’s also user behavior data.

Earlier this month, the financial advisory & fintech industries gathered in NYC for the annual Wealthies awards highlighting the most innovative companies serving financial advisors & among the winners was Practifi.

As firms have moved to work from home due to the pandemic, and regulators have swept in with new and rapidly changing requirements, compliance has become a financial and operational burden for many RIAs.

After the tumult of the past few months, maybe we all need a mental health break, or at least to focus some time and energy on our wellbeing. For many years, the topic of mental health has been little addressed.

“Today’s wealth management industry is awash with data but starved of insight,” according to Adrian Johnstone of Practifi. “We have so much information but lack clarity on how to manage it and what to do with it.”

For financial advisory firms to get their technology up-to-date at an institutional level, it will require some form of data Rosetta stone. That's where Australian fintech Practifi can help.