Comments by InvestmentLink that the fintech industry is failing to meet the holistic needs of the financial advice industry are out-of-step with reality, IRESS chief executive Andrew Walsh says.
“In recent years and months, a number of fintech providers have delivered significant new solutions to meet the changing needs of financial advisers and to provide solutions for all parts of the industry. This has followed periods of significant investment by established fintech businesses and new players.
“InvestmentLink CTO Wayne Robinson’s comments are disappointing and out-of-step with the reality of investments made in technology in financial services.
“While there is continued demand for ongoing innovation, his comments that available solutions are limited and exclude parts of the financial advice industry are inaccurate. Many of the solutions Mr Robinson refers to as needed are already available in the market.
“Collectively financial advisers and the wider industry have committed significant amounts to investing in new solutions to meet business, client and compliance needs. This is an exciting period for both fintech and the financial advice industry.”
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