VALUE BEYOND MEASURE

Wealthtech puts advisers' and investors' minds at ease

- Damien Martin

More money, more problems, they say.

That sentiment especially applies to managing wealth. Traditionally, wealth management has been a labor-intensive undertaking, with financial planners juggling investments, estate planning, tax planning, and asset structuring, often by hand. It's limited the number of clients advisers could take on and the services they could offer. But as has been the case with many other industries, digital transformation has shaken things up. From robo-advisers that dispense automated advice to customized services their human counterparts can offer, wealthtech has ushered in a new era of wealth management.

THE DIRTY WORK

Wealthtech that automates a lot of the time-consuming paperwork frees up financial advisers and institutions to offer their clients more personalized service. They also make it easier for individuals to take their finances into their own hands. Products like Nitrogen's Riskalyze drill down to a client's preferences and goals to determine a level of risk tolerance beyond just basic details like age. In just a few minutes, it assigns a Risk Number based on how aggressive the investor wants to be. Then clients and advisers can build a portfolio based on that Risk Number.