What is a fintech company?

FinTech companies have broken through industry barriers to provide clients with services that are unparalleled to the traditional wealth management space. FinTech, otherwise defined as the application of technology in the financial sector, is one of the fastest growing industries in the history of financial services.

How will fintech impact the traditional wealth management space?

The speed and magnitude of FinTech’s impact on the traditional wealth management space will be dependent on the industry’s ability to adapt to the changing market landscape. The current market has shown that clients increasingly demand for ease of access, enhanced user experience, transparency, lower fees, and personalized, dedicated portfolios.

Should a wealth management firm invest in fintech?

Sia Partners sees these firms as important considerations for any Wealth Management firm who looks to develop their digital transformation strategy, due to the FinTech business models carrying market potential, being the most likely to succeed and have a lasting impact on the industry.