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Xignite, Wealthfront and Independent Research Firm Analyst Address the Automated Investment Service Revolution

FinTech Webinar Examines Wealth Management Technology Trends

SAN MATEO, Calif. - Thursday, July 31st 2014 [ME NewsWire]
(BUSINESS WIRE) Leaders from major financial technology start-up companies Xignite and Wealthfront, join guest speaker Bill Doyle, Vice President and Principal Analyst at Forrester Research, Inc., to provide their insights into a new digital era, which is revolutionizing the wealth management sector and challenging traditional wealth management advisory models.
In a webcast, now available, Stephane Dubois, CEO and Founder of Silicon Valley-based financial cloud-based market data provider Xignite; guest speaker Bill Doyle, Vice President and Principal Analyst at Forrester Research, Inc.; and Andy Rachleff, Executive Chairman of Wealthfront, an automated investment service provider, examine and discuss the key technological drivers that are making this revolution possible and provide their views on the future for the wealth management industry.
The financial services industry has undergone significant changes in the last twenty years with the proliferation of digital technologies that have made traditional bank branches and models of service almost obsolete. These developments have set the stage for the arrival of new FinTech companies entering the wealth management space, who are challenging the status quo by better serving the needs of wealth management customers through delivering advice and information using technology.
Millennials as a generation are digitally savvy and have more than $2 trillion in investable assets, a number that is expected to rise to $7 trillion over the next five years. This is creating market opportunities for FinTech standouts such as Wealthfront, who are providing their own online wealth management advice platforms which deliver information and advice through the digital channels.
According to Rachleff, the growing investor appetite of Millennials, coupled with their comfort with digital channels and the rapid technological improvements such as more usable software and more efficient information delivery have created the perfect set of factors for revolutionizing the wealth management and advice space.
“One of the biggest drivers of the changes we are seeing in wealth management has been availability of data. In order to rapidly innovate in today’s competitive market, you need access to data,” said Rachleff.
“Companies like Xignite are fueling the wealth management technology disruption by providing start-ups with easy-to-integrate and affordable data that is delivered using financial data APIs. This has enabled companies like Wealthfront to access information electronically, which has significantly reduced costs. Ultimately, up and coming start-ups now have access to information traditionally they could not afford.”
“Market data is the lifeblood of FinTech and firms rely on the flow of data coming in from the market in order to build a business,” said Dubois. “At Xignite, we demystify the world of market data and make it affordable to the broader marketplace. Driven by client demand, the wealth management digital revolution is an extremely popular business vertical and we are pleased to be driving the innovation through our scalable offering.”
Key insights into the Wealth Management Digital Revolution are available on a webcast. The panelists discuss a variety of trends rapidly evolving in this space, including:
Why Venture Capitalists are pumping money into FinTech
What Millennials expect from an investment service
The technologies that enabled Wealthfront - ETFs & data APIs
What FinTech startups need to know about market data

Kerry Langstaff, 650-242-4466


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