FinTechs represent an opportunity for wealth managers, not a threat

FinTechs are entering the wealth management industry at a record pace, and many traditional wealth management companies are not thrilled. But the fact is that FinTechs are bringing speed, radical innovations and visibility into the market. Although nobody can predict the next big disruption and how it will play out, nobody also wants to be Yahoo! missing out on purchasing Google for USD 1 million or Blockbuster declining a partnership with Netflix. Traditional players should wake up and examine the benefits of collaboration or risk being at a disadvantage in an industry that is about to get even more competitive.