Fintech Corner

Technology has long been a force for unity within financial services firms, but not always in a good way. offering little in the way of data-sharing, said Adrian Johnstone, President of Practifi.

In the absence of a CRM, businesses fall back on doing business by e-mail, phone and paper, which can cause important information to be lost in translation, or lost in general.

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.

Preparing for an audit can be a time-consuming, labor-intensive task itself, requiring large amounts of preparation and documentation before the auditors step on the premises.

The word “integration” is so commonly uttered by technology providers that it’s become the  corner square on the fintech BINGO board, but they describe something incredibly important to advisor technology

Practifi, a business management platform for the financial services industry, was planning to change how it interacted with email and calendar scheduling programs but wasn’t sure how to proceed. A client advisor board offered just the insights the firm needed.

Even without the experience of a global pandemic, it makes sense that the world has moved to remote or work-from-home. In response, Practifi is organizing quarterly in-person summits for its employees.

Not only is providing financial advice evolving into a profession as indispensible and rigorous as medicine and law, but it’s also maturing into one that requires a modern approach to technology, said Adrian Johnstone, chief commercial officer at Practifi, a business management platform for financial services firms. Both medicine and law have embraced a roles-based approach to building technology stacks.

For national and regional enterprise firms operating across different jurisdictions, the ongoing cost of staff, systems, processes and leadership necessary for maintaining compliance can become very expensive.

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.