5 Wealth and Retirement Experts Give Their Predictions for 2017

We asked five fintech experts about the technology trends that we will see in the retirement and wealth management sector.

Christian Ruppe, CEO and Founder, Monotto

“Saving is going to take a huge step forward in 2017. The improvements will come almost entirely from machine learning and artificial intelligence. Machine learning will improve to be able to determine the best places to save money and the simplest ways to do so. Artificial intelligence, in the form of bots, will help communicate, in the best way possible, where saving should occur and how to do so without changing the individual’s lifestyle. When both artificial intelligence and machine learning work together, the improvement will be astronomical. Ultimately, saving as well as just becoming financially stable is about to get a whole lot easier.”

retirement tech

Lauren Minches, Director of Insurance, Abaris

“The retirement of tomorrow will be measured by how much guaranteed income you have, not the assets you’ve accumulated. Retirement is all about safety and security. It’s not about risk. But what we’re doing now – investing all our retirement savings in the market – is risky and just isn’t working. The proof is the fact that no one can actually tell you how much to save or how much you’ll need to retire. Between the stock market and your lifespan, there are too many unknowns.

We’ve come a long way from the days when people retired with pensions instead of 401(k)s, but the insurance industry is starting to figure out what to do about it. While employers don’t want market and longevity risk, insurers do. Soon they’ll be offering the right retirement products that will be as easy to buy as a mutual fund, offering pension-like guaranteed lifetime income. That will become the smart way to prepare for the future.”

wealth tech

Le Zhang, CEO, Instrument Capital

“There will be increased personalization in financial products. Algorithms will also better facilitate matching of investment and finance products with consumer needs. Traditionally, the sales process and function has been separate from the investment management/risk management side of the business. This has resulted in decisions made on behalf of clients based on intuition and incentives (commissions). Algorithms insure that decisions are made based on data and what the customer needs.”

retirement technology

Bernard George, Co-founder and CEO, Nvstr

“First-generation robo-advisors and mobile-first brokerages helped democratize access to investing. However, people are left thinking, “Ok, now I can invest, but how do actually I invest well?” In 2017, investors will seek not just access, but also proficiency. Making truly intelligent investing an engaging, understandable, and customizable process will be key. The platforms that thrive will be inviting and social, yet harness tremendous amounts of data and technology under the hood – all to investors’ benefit.”

retirement technology trends

Henry Bee, CEO and Founder, Cassia-Research

“There is a tremendous amount of friction in the retirement and savings space. Most 401(k)s are offered by the employer and are often invested in bad, high-fee products that don’t match the investor’s risk profile. I see opportunity for advisors (whether robo or human) to offer services to manage 401K assets and helping corporations create better investment options for employees. The trend will be towards more holistic risk management of a client’s entire portfolio, instead of an isolated view of 401k or IRA assets.”

retirement startups


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