Kickstart Your Digital Transformation | E201

Advice on how financial advisors can get started.

Today’s episode is a recording of a brief intro that Jason gave to the recent Canadian advisor Tech Expo. It was the first financial advisor technology expo of its type in Canada, and that was put on by the Financial planning association Canada, for which Jason is the President.

Episode Highlights:

  • 00.56: Digital transformation is about taking your practice and digitizing it, and reaping the benefits of digitization, efficiency, scalability, and hands-on experiences for both you and your consumer.

  • 01.12: Which of us doesn’t want to do the less heavy lifting, make more money, and provide clients?

  • 02.06 There are always opportunities around the outskirts of core technologies, and you need to treat your business like a business and think about how you can enhance it. 

  • 02.35: The dealers are too busy worrying about the mass audience in core technologies. So they are not going to get things like your booking scheduling systems. 

  • 03.01: If you don’t know what is out there in the marketplace or what others have done, it is tough to figure out what you are going to do for yourself. 

  • 4.00 Technology is meant to support your business strategy. Don’t go looking for the solution to your problem if you haven’t figured out your problem correctly. 

  • 5.57: Once you have identified what you do, look for repetitive things that take a lot of time and keep you away from facing clients. Because those are the ones that are the most useful to automate basically, and those are the ones that are most likely to have solutions. 

  • 07.07 Most important is to invest the time to learn and onboard the technology. Set aside time to understand the technology and then realize it so much and so well that you can turn around and train your staff on it.

  • 11.08: The day tomorrow and the next day are all about you. It’s all about technologies that you can choose and deliver.

3 Key Points:

  1. The first tip is that you need to adopt an entrepreneurial mindset to start the visual transformation, says Jason.

  2. There are tools for the problems that are better handled through technology than by human beings. Human beings are good at figuring out complex relationships between things.

  3. Advisors digitized can transfer over all their systems with a couple of usernames, and everything is done at a premium.

Tweetable Quotes:

  • “There are so many little solutions out there that cost a couple of dollars per month to solve problems that are taking hours per week away from you.”

  • “Some advisors don’t listen to you, steal you using E signature, don’t have a CRM, and don’t care about innovating any other stuff.”


Resources Mentioned:

Fintech ImpactJason PereiraFintech