Knowledge of FinTech Becoming Increasingly More Important

Earlier this month in Fort Lauderdale, Florida, students from across the nation competed in the inaugural student fintech competition at the T3 Advisors Conference. According to Financial Planning, the knowledge of fintech is becoming increasingly more important as, “the next wave of financial advisors are part coders, part planners.”

“Technology will only increase advisor capabilities. I don’t think they [referring to artificial intelligence] are going to take over advisors. We’ve got to learn from that technology and realize how to use it to advance your own practice and grow.”

– Brian Thomson, junior at Delaware State University

Students from Utah Valley University intend to enhance the fintech sector as they, “developed a chatbot called Rigel that integrates with Amazon Alexa, Google Assistant, Slack and Skype.” The students that created Rigel as well as those from Delaware State University, Western Carolina University and the University of Akron will splice over $5,000 in scholarship funds put forth by Abacus Wealth Management as well as TradePMR.

Jake Durr had no background in financial planning due in part to his pursuance of a degree in management information systems. Yet the invention of him and his teammates, “a tool for advisors to vet vendor compliance” introduced him to the ‘exciting’ possibilities of fintech.

“At first I didn’t know what to expect, because I had no exposure to financial conferences – only technical events, but it’s gotten me interested to see how involved technology is with the field.”

– Jake Durr, senior at the University of Akron

Read More Industry Benefits of FinTech