The Biggest Mistake Advisors Make with FinTech


Recorded at the T3 Advisor Conference 2022.  Presented by:

Advisorpedia interviewed Andree Mohr, Chief Implementation Officer at Integrated Partners, at the T3 Advisor Conference in May, 2022.

Related: Find The Who’s And Trust The Process With Andree Mohr and John Pastore


The biggest mistake advisors make with Fintech is they don't leverage their FinTech properly. So Joel talked about at the last conference, how advisors only leveraged 15% of their existing tech. If they take a step back, look at what they're not using, they can better leverage what they have today. There is so much new and exciting tech in our space. . .

But what people don't always understand when they're looking at new tech is maybe their existing tech already has something like that. So take a step back. Look at the tech you have today. What's that other 85% that you're not leveraging? Is there a potential to use that and get what you need, or what you were looking for from another technology versus adding another tech to your platform, that then you have to learn, connect and integrate with your existing technology. Sometimes less can be more as long as you're leveraging things to the proper level.

My best advice for advisors is to find a technology that works for you. So you know your business, your practice best, you know what you want to deliver to clients from an experience, you know how you want to work with your team, find a technology that works for you. If you try to right size, your business and your process to a particular technology, that's not always going to work. So look for things that work with your story, and that help enhance your story help you streamline your process and create more time in your day.

There's a lot of really interesting workflow management practice management Tech's coming into the space. So taking a step back to look at how can I best protect my time? How can I find a technology that best works for my practice, and taking that step forward?