In the past 20 years, digital innovations have transformed the financial planning industry. Unfortunately, RIAs have failed to keep up with those changes and fallen behind. Too many advisors are comfortable with older systems and firm owners have not adapted to solutions that would make them more efficient and able to scale their businesses faster.
On this episode of the Elementality podcast, Reese Harper interviews Tim Welsh of Nexus Strategy who explains why staying up-to-date with technology is so critical. While the digital transformation has been the biggest change in the RIA business, it has also created a huge challenge since understanding the latest innovations is a key to being an effective advisor and owner.