20 August 2018

SS&C Deliver 2018: Q&A with Danielle Fava, AI meets asset and wealth management

By Stacy Orff-Whitfield

AI seems to be everywhere today, but is it in your firm’s future? TD Ameritrade’s Dani Fava will join a panel of experts at SS&C Deliver for Artificial Intelligence Meets Asset and Wealth Management on Thursday, September 13 at 4:00 pm. We caught up with Dani to get a snapshot of the major trends she sees affecting the industry.

Q: As a trend spotter, what do you see as an unforeseen disruptor to the wealth management industry?

CRISPR, also known as DNA editing. It’s in its early stages, but has the potential to cure cancer. I think advancements in science and medicine like this will completely disrupt longevity and retirement -- in a good way! -- but will also wreak havoc on the wealth management industry as we’re ill-equipped financially to live to 120.

Q: How do you view the role of custodians as change agents?

It’s our role as a custodian to keep our finger on the pulse of emerging technology. When we see evolutionary technology, it’s our job to educate advisors and develop solutions that embrace the change. We also built our technology platform to be open and integrated with the latest and greatest so advisors can keep up with the accelerating pace of technology change.

Q: What technology or product developments is TD Ameritrade working on or announced that you believe are or will be most noteworthy for the industry at large?

We recently launched the Model Market Center, which is an extremely cost-effective, easier way for advisors to leverage third-party asset-allocation strategies. Because of technology advancements, asset allocation has become more commoditized and advisors need a solution that facilitates access to the brain power of leading fund managers.

Q: Do you see a commonality in advisor practices that are growing in a fast-changing landscape? If so, what is this commonality and how does it differentiate successes from failures?

The advisors that are growing the quickest are the ones who are adopting technology to make their practice more efficient and provide investors a better client experience. The more efficient an advisor’s practice is, the more time they have to focus on building deeper, more meaningful relationships with their clients and on winning new relationships with prospects. By raising their technology game, advisors also can meet the rising demands of consumers accustomed to the anywhere, anytime convenience delivered by the latest, most innovative solutions.

Dani will share more insights as a panelist during the session, Artificial Intelligence Meets Asset and Wealth Management, at SS&C Deliver 2018 in Las Vegas, September 12-14. Register today to attend!