Concern about those who have been left behind in receiving financial services (“the unbanked” and “the underbanked” ) have been popular topics of conversation amongst bankers and regulators over the past few years. An important thread of these conversations has been the fact that in many cases, it is the customers who are leaving the […]
I wrote a piece for the popular fintech blog netbanker yesterday on how high tech and high touch are converging in wealth management, and what I will be watching for in that convergence zone next week at Finovate Fall 2012 in New York. In the article, I mentioned that most of the notable traction to date has […]
One of the hidden benefits of mentoring others is that you usually learn something too. I am glad to have helped a young entrepreneur, and I suggest keeping track of whatever he starts…
Great lessons from the always insightful Steve Blank. Who amongst us haven’t poured more energy than was wise into a one-sided relationship?
Over the past couple of posts we took a fairly irreverent whirlwind tour through the last 150+ years of those financial services oriented specifically towards helping successful families grow, protect and share their wealth– the very essence of wealth management. [See Wealth Management 1.0 (1853-1982) and Wealth Management 2.0 (1982-2008)] Today we will bring this […]
Great post today by Erin Griffith on PandoDaily about the nature of innovation at financial institutions: Startups in the finance industry face a set of challenges so unique that, without help from accelerator, they have no real chance of survival. Finance startups need accelerators because of their mentors -they need someone to teach them to […]
Last week in Wealth Management 1.0, we explored the origins of the wealth management business in America. As in that post, I will again disclaim any notion of deep academic research and thorough economic analysis in favor of getting to the point. The most important formula in banking used to be the 3-6-3 rule. Bankers brought in […]
Most banks today have wealth management clients with an average age somewhere between 70 and dead (no offense, Mom). Their books of business were largely built in bygone eras, from fortunes made in companies and industries that no longer exist. These clients (and many of their advisors) are really not sure about this whole “interweb” […]