Ian McKenna

F&TRC Internal (Admin)
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Ian McKenna last won the day on September 22 2015

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About Ian McKenna

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  1. Established in Sydney in 2013 and now also operating in the US and Europe, Practifi aims to deliver a new form of technology platform for advice businesses to run the whole organisation, not just part of it. This is a business management system that extends across an enterprise. Leveraging Salesforce as a platform for infrastructure and security, they have added 115 customer objects which can be deployed to meet a range of customer needs. The service is designed to accommodate multi-disciplinary practices that include estate planning and tax advice in addition to financial planning.
  2. At the first main session of the opening day of Invest West 2018, Suleman Din, technology editor of Financial Planning magazine had a fireside chat with Personal Capital CEO Jay Shah on how the company is progressing. This provided a fascinating snapshot of perhaps the most successful hybrid advice firm operating today. Shah highlighted that the firm has been a hybrid adviser from the start. Beginning in San Francisco, where I remember my first meeting with Shah and Personal Capital founder Bill Harris back in 2012, in an office that was still being built around us while we talked. Since
  3. How should an advisor with a fiduciary duty to their clients’ address client’s who no longer fit within the optimal client profile of the advisor firm? Facet Wealth has created a novel way to help advisor firms with clients who are no longer in their core customer segment by buying part of a firm’s book so the vendor can focus on growing their core target audience. Facet was established early 2016 when co-founder Anders Jones was motivated to find a solution to help the 8 million households who would potentially lose their advisor had the DOL rule proceeded. Using proprietary technology
  4. Today’s purchase by Aviva of a majority stake in Wealthify has significant implications for the whole UK robo advice community and wider personal savings market. This move by the world's 12th largest insurer and a major asset manager is far more significant than the previous investment by LV= in Wealth Wizards and other UK robo deals. Aviva have a far greater degree of scale and partnerships that can be leveraged to the advantage of both businesses. Aviva have been a real leader in the digital revolution with the London digital garage having set the trend now being follo
  5. New PFM techniques demonstrated at Finovate have the potential to facilitate totally new ways to help consumers get the savings habitat Last week’s new expanded format Finovate shone, as always, a spotlight on a diverse wealth of exciting ways to use technology to enhance the financial services industry. One of the challenges of attending the show is there is so much to take in. Rather than try and address multiple areas in a single summary I’m going to break down my review of the show to look at different areas. In a separate blogs I will consider the solution that for me was the ov
  6. This week I am in New York for the opportunity to see the very latest wealth technology innovations and to hear from several of the industry leaders who are transforming the way Americans access financial advice. Now in its third year, the In|Vest conference provides a heady mix of powerful tech demonstrations and exceptional thought leadership. For me the big message on day one of the show was machine learning and artificial intelligence is now part of the emerging landscape. In what follows I will highlight some of the early leaders. The volume of these offerings on display make
  7. For me the outstanding demonstrations of the second day came from companies who were really throwing down the gauntlet to challenge conventional thinking and showing services that could transform major parts of the financial services industry in a very few years. These almost all focused on making more use of non-traditional forms of data to improve customer services, outcomes and achieve greater profitability. When considering these in this context it is important to recognise that Finovate rules preclude firms showing vapourware service that are not yet built. While many offerings prese
  8. The first day of this year’s Finovate Spring left me thinking I had witnessed a real lesson in how technology can extend financial inclusion to a level many traditional advice firms may consider inconceivable. The west coast Finovate show is always the one where you see the wackiest ideas, but it is also the event that stretches creative thinking the most, making it well worth traveling eight time zones. In one day I witnessed technology that can make profitable lending practical to people who might normally be declined based on all normal credit assessments. Into the bargain I had sight
  9. After the frantic pace of day one, T3 became more reflective during its second day. A range of key industry thought leaders provided challenge and analysis that put many of the previous day's announcements in suitable context. What follows is a summary of just a few of the key messages and insights shared. The tone was set by industry veteran Bob Veres www.bobveres.com @Bobveres. Clearly unafraid of challenging conventional wisdom Veres began by pointing out that growth in the investment industry is stalling as planners are failing to build models and services that are attractive to mill
  10. The first full morning of T3 2017 saw a cacophony of announcements worthy of the opening 30 minutes of Saving Private Ryan. The morning seemed to encompass an endless stream of outstanding product innovation and stunning research conclusions, making a clear case for a very different future for how financial advice is delivered. Many of these warrant extensive analysis in their own right but I'll try and keep this summary concise and readable and focus on the highlights. First up Riskalyse presented their new Premier product with a whole range of additional features including Client D
  11. This week's Technology Tools for Today conference in Orange County California got off to a great start yesterday afternoon with outstanding presentations from conference host and all round US advisor tech guru Joel Bruckenstein and Investment News associate publisher Mark Bruno each presenting key findings from recent research on the use of technology by American advisors. Bruno kicked off the session with a summary of key findings from the Investment News 2017 advisor technology survey. This is the latest iteration of the biannual study which the company has been conducting since 2011 gi