SYMPOSIUM BREAKOUT – October 11, Trisha Qualy and Tom Rippberger – The Robo Advisor: Friend or Foe?

Trisha Qualy, IACCP®Thomas RippbergerREGISTER NOW and Save $50

Presentation Scheduled for Tuesday, 10:55-11:45 AM.
CE: 1 CFP, 1 MN insurance, 1 WI insurance, 1 CIMA, 1 NASBA and .75 CLE Stnd

How are robo advisors a threat to the financial services industry? Trisha Qualy and Tom Rippberger run AdvisorNet Wealth Management, a Minnesota based Registered Investment Adviser, and have extensively researched robo advisors over the last two years. We help our advisor teams chose technology vendors that best fit their practices, assessing usability for staff, cost, and integration with other vendors. As the team responsible for building the operations, technology, and compliance platform at AdvisorNet Wealth Management, we have intentionally designed a flexible corporate infrastructure that can quickly adapt to industry demands. The robo advisor serves as a great case study as one of these demands.

Robo advisors first started appearing in 2008 with a focus on target-date funds and online interfaces. Since then, automated portfolio software has become much more common among advisors and consumers have become much more comfortable with sharing their financial information online. During our presentation, we will discuss current robo advisor qualities, investment selections, and the robo’s targeted client profile.

Often, other industries can be ahead of our own. Have you ever used Kayak or SkyScanner to find a great deal on plane tickets? Or do you rely on a travel agent to book flights for you? How can answers to these kinds of questions direct the future of financial services? We will explore technology examples and valuable lessons from other industries that compare to robo advisors.

After, we will look at changes within our own industry. Can small accounts actually be profitable? How are clients dictating the investor experience? And from a technology standpoint, is it easier to start from scratch? We recently led our own robo advisor initiative; with a team of management and advisors, we conducted due diligence on over 10 digital platforms and chose a vendor that was appropriate for our needs.  We reviewed customer service, fees, billing, model and investment solutions, and technology platforms and are excited to share some of our findings with you.

Perhaps most importantly, we will break down robo limitation and discuss what robo advisors CAN’T do – and how humans can win. In addition, since we spend our days following technology trends, we will discuss where we see this trend going, and whether you need to fear the digital revolution

If you are considering implementing a robo advisor solution, or are just interested in learning more about this trend, join us for our presentation, The Robo Advisor: Friend or Foe?at the Minnesota FPA Symposium!

REGISTER TODAY and earn up to 14 CEs!