“Engaging the customer directly is a big request [that] we have, and how we go about that is going to be, I think, really pivotal for where Asset-Map goes over the next five years.”
The company has some pretty strong opinions about the trends in data ownership, given cyber security requirements and concerns over who owns the data and who can see it.
“We’re going to move, as a global community, towards the concept of data independence and data ownership at the consumer level.”
One of the biggest challenges, according to Adam, is getting through the traditional compliance operations at large institutions that hold the key to access what advisors can actually implement in their process. Getting through the corporate procurement process is probably the biggest barrier to all advisor tech today. Another challenge is more specific, and is merely awareness of the tool. Most of their growth happened virally, Adam says, because other advisors shared and recommended their tool. Now they have a PR department and marketing team that is taking over the awareness process.
Takeaways
Asset-Map is a great UI tool to graphically show the financial structure of the household when a financial advisor discusses strategies with their clients. It can be useful both for acquiring new clients and building relations with an existing client base. Adam stated that his great vision is to make Asset-Map a common name that is associated with robust financial visualization in a split second. Let these ambitions prove the value and bring a renewed level of financial engagement and ownership to households world-wide.
Interviewed by Vasyl Soloshchuk, CEO and co-owner at INSART, FinTech & Java engineering company. Vasyl is also the author of WealthTech Club, which conducts research into Fortune and Startup Robo-advisor and Wealth Management companies in terms of the technology ecosystem.