Jen has an extensive background in both the finance and SaaS industries, getting her business degree from Northeastern University in Boston, MA, where she can often be found at either the hippest restaurant or the hottest concert.
A new school year starting, another summer drawing to a close, students heading back to school, young couples moving into their first apartment, and concerts galore.
Just last weekend I met up with a best friend and her younger brother before an event at Fenway Park here in Boston. He asked me one of the most “interesting” questions I have heard in a while: “Jen, what is it that you do?”
The question almost made me laugh out loud, but not because it was a silly question. When I really thought about getting down to the core of what myself and my colleagues here at Advicent do on a daily basis, it seemed like a more daunting task than I have ever realized.
The duty to your clients
The reason he was asking the question is because his internship at a prominent bank is leading him to think about what his place is in the imminent FinTech world. When I think about my relationship with clients (as well as a relationship between a client and financial advisor), there are a few constant areas that come up:
- Trusted advisor
- Technology innovator
- Compliance researcher
But make no mistake, it does not end there. For anyone considering getting into the FinTech field, please keep in mind that we have a duty to our clients.
So whether you are already a “FinTechie” or are simply curious about this rapidly growing industry, I have compiled a list of ways that have helped me grow and become more successful.
What to pack in your “FinTech backpack”
I have been attending meet ups for the last year in regards to FinTech. I went to one meeting in NYC on my last travel trip and connected with a group of like-minded women who are looking to change the financial industry.
We now have a monthly call, or, in some cases, in-person meetings if schedules align to share ideas, best practices, and overall get excited about where each of our careers are headed. (We might also taste a wine or two.)
Here in Boston, we take our education seriously. We also try and stay ahead of trends. To that degree, here is an enrollment page for a first in class FinTech course I think would benefit those affected by the FinTech industry (including advisors). One of the reasons I love living in the area is that our inhibition to learn and ability to explore our passions keeps us ahead of the curve.
3. Social media
Connecting with new and old faces in the industry allows us to stay relevant while adding value to the C-level decision makers. Being in the finance industry, I had a long list of connections as I transitioned my career to a software company. I thought I was saying goodbye to a lot more than my Series 7, but the lines between finance and technology are becoming more blurred than ever.
Take the time and effort to shape your feed to include relevant news stories and like-minded FinTech industry leaders. You would be surprised how much valuable information you can receive for yourself and clients from a free resource.
Following blogs is a great way to remain in step with industry trends and learn from the insights and expertise of financial industry analysts. It is not only important to be knowledgeable about financial trends and hot topics as an advisor, but also learn about innovative technology hitting the market.
A few of my favorite blogs are:
Daily FinTech – https://dailyfintech.com/
Nerd’s Eye View – https://www.kitces.com/
FPPad – http://fppad.com/about/
The common theme with all these “FinTech backpack” items is connecting with others. Communicating with other industry leaders and professionals is the best way to stay ahead of the game, and it easier than ever to do so in our digital world. I encourage those of you interested in a FinTech career, as well as advisors, to get your “FinTech backpack” ready and embrace all the changes technology is making in our industry.