Every four years, Heron Financial Group completely tears down and rebuilds its technology platform.One big focus: A review of how every vendor handles clients’ private data, says David Edwards, head of the New York-based advisory firm.
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Everyone is talking about robo advice, but will it fundamentally change the investment advisory practice? Can online technology replace face-to-face advice, either for today’s core client base of baby boomers or for tomorrow’s investors –– the cyber-savvy millennials?
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The industry as a whole has to go a step farther, said David Edwards, president of Heron Financial Group. Software vendors are automating the procedure of all of these forms, but custodians should clean up the way advisers must deliver these forms to their clients or prospective clients
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The promise of a seamless technology integration in which advisers get up to speed quickly and use all of the software programs and data available to them with ease isn't a reality at most advisory firms. Not yet, at least.
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