Forget cloud computing and mobile applications — they’re so 2010.
So what are the next “wow factor” tech trends, ideas and products that will rock the world of financial advisers and their clients in the not-so-distant future?
Chances are, they will en-compass the wizardry of “big data” algorithms, wearable tech for go-anywhere advisers, video-game-inspired business applications, deep content analysis by supercomputers such as IBM’s Watson, and software that has an uncanny ability to read facial expressions and emotions.
In financial services, which was once a leader in technological change, the wow factor is now more likely to come from the consumer market, according to Neesha Hathi, senior vice president of Advisor Technology Solutions at The Charles Schwab Corp.
“Technology used to come through defense and the government to business, and then make its way down to consumers as the cost became more effective,” Ms. Hathi said. “But since the early 2000s, more often the new innovation is coming from the consumer side of the world. As soon as someone marketed the iPad to consumers, they said to themselves, “Wait, I can use this in my business.’”