Platforms are at risk of becoming obsolete unless they embrace digital transformation, according to The Progeny Group former chief technology officer (CTO) Tim Thompson Rye.
Speaking at the Financial Technology Research Centre's (FTRC) Empowering Advice Through Technology 2025 conference yesterday (30 January), Rye likened outdated advice platforms to dinosaurs, warning that those that fail to adapt will face extinction. "There are some dinosaurs in the advice platform community. And what happens to dinosaurs? They go extinct," he told delegates. According to Rye, advice platforms have had an easy run for too long, relying on the fact that financial advisers have traditionally defaulted to them without demanding innovation. "Advice firms had no incentive to ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
