This is a summary of a TechOps Track Session titled, "Empowering Advisors: Delivering Tools that Support Today’s Client Needs" from the MMI Fall Solution Conference

1. +
What Robo-Advisors Can Teach
Us About Focusing on the Client
By Craig Iskowitz, CEO, Ezra Group, LLC
Originally posted on wmtoday.com

2. +  This is a summary of a TechOps
Track Session titled, "Empowering
Advisors: Delivering Tools that
Support Today’s Client Needs" from
theMoney Management Institute's
2014 Fall Solutions Conference.
 The discussion was focused on by
the threat of robo-advisors, areas
where they have succeeded and
how firms need to change to meet
this challenge to the industry.

3. +
Panel Members
 Moderator: Gary Jones, Senior Director Financial Services at
Collaborative Consulting
 Vilas Mhatre, Managing Director at Morgan Stanley Wealth
Management
 Eric Lordi, Head of Cross-Platform Development at Barclay's
 Heeren Pathak, Chief Technology Officer at Vestmark
 Mike Everett, VP, Business Development at MyVest

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Client experience should be the
number one concern
 Robo-Advisors provide
simple solutions that clients
understand
 Traditional advisors try to
sell complex programs and
have to spend too much
time explaining them
 Online firms have received
over $100mm in funding to
build elegant and easy-to-
use products

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Client experience should be the
number one concern
 Baby Boomers are currently
retiring, but are mostly
uninterested in their
advisor’s technology
 Millennials are just
beginning their careers, but
have different expectations
about how advisors should
interact with them

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Consumer technology has
changed client expectations
 24/7 online communication
has become ubiquitous
 Technology savvy investors
expect advisor
communications to work like
Facebook, Twitter, or
Instagram
 Advisors who wanted to own
all client contact ten years
ago, now are clamoring for
online access

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Starting with a clean slate has its
advantages
 Robo-advisors have an
advantage because they
have no legacy
infrastructure to support
 They believe that client
experience trumps
investment proposition
 Their new websites provide
a better experience in terms
of online and offline
presentations of data

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Held-away assets must be part of
the mix
 Firms must be able to bring
in assets wherever they are
custodied in order to deliver
holistic advice
 A 401(k) plan can be a major
portion of client’s retirement
strategy, but if there is no
visibility into external
holdings, the advisor cannot
include it

9. +
Scalability is table stakes –
necessary to stay in the game
 Scalability requires advisor
processes that require just
a few mouse clicks to
complete
 Third party investment
systems can provide
scalability, for a price
 A consolidated wealth
management platform is
something all firms should
be investing in

10. +
The low AUM client segment has
tremendous potential
 Traditional investment firms
should not surrender the low
AUM space to robo-advisors
without a fight
 Betterment recently
partnered with Fidelity and
launched an institutional
product for RIA's who want a
turnkey solution for low-
touch, online clients
 This year, Millennials
passed Baby Boomers as a
percentage of the working
age population

11. +
The low AUM client segment has
tremendous potential
 Traditional investment firms
should not surrender the low
AUM space to robo-advisors
without a fight
 Betterment recently
partnered with Fidelity and
launched an institutional
product for RIA's who want a
turnkey solution for low-
touch, online clients
 This year, Millennials
passed Baby Boomers as a
percentage of the working
age population

12. +
Thanks!
Check out our Wealth Management blog at
wmtoday.com
Contact Ezra Group at info@ezragroupllc.com for
advice on wealth management technology, launching
or optimizing UMAUMH programs or vendor
evaluations.