In this episode of Fintech Impact, Jason Pereira speaks with John O'Connell, CEO of the Oasis Group, about the current trends and challenges in the advisor technology sector, particularly focusing on the U.S. market. They explore topics such as technology integration, cybersecurity, the rise of AI, and the need for standardized tech stacks in financial advisory firms. John shares his experiences and insights while discussing the impact of technology on RIAs and

the future role of AI in enhancing efficiency and client service in the industry.

Episode Highlights:

• 00:11: Introduction to the 350th episode with guest John O'Connell, focusing on the advisor technology space.
• 00:51: Introduction to Oasis Group's role in investment advisory technology.
• 01:02: Explanation of Oasis Group's services, including technology assessments, cybersecurity, and data analytics.
• 01:55: Discussing how Oasis Group acts as an outsourced CTO and consultant.
• 02:31: Exploring trends in U.S. advisor technology for 2024, including private equity and tech stack standardization.
• 03:47: The shift from individual tech stacks towards standardization for cost efficiency among RIAs.
• 04:36: The impact of scaling and negotiating advantages in standardized technology stacks.
• 05:52: How RIAs are leveraging tech stacks for better data management in acquisitions.
• 06:29: Hosting M&A examples, understanding acquisition strategies at Oracle, and implementing these within finance.
• 07:10: The dual front of competition: Companies aiming to unify or disrupt established advisors from below.
• 13:47: The importance of aligning technology choices with business strategies and client identification.
• 19:14: Understanding the nuances of integrations and common misconceptions.
• 25:54: John emphasizes creating effective and engaging experiences for clients in the face of potentially daunting tech options.
• 32:08: Guardrails in AI use to guarantee compliance and minimize risk, particularly regarding sensitive data.
• 36:18: Evaluating AI functionality and its potential to reshape specific roles in financial services.

Key Points:

• Integration and standardization of tech stacks are becoming crucial for financial advisory firms to manage costs and streamline data management.
• The industry is rife with opportunities for innovation, particularly in personalized client interactions, data analytics, and tech-assisted efficiency.
• Advisors must align their technology choices with their business strategies and ensure these tools genuinely enhance client relations and service quality.

Tweetable Quotes:

• "Technology is a force multiplier; if you don't know where you're going, you'll just get nowhere faster."
• "Solve one problem really well, and people will buy it."
• "Pick where you want to land on that spectrum, and then just be happy with where that is at the moment."

Resources Mentioned:

• Facebook – Jason Pereira's Facebook
• LinkedIn – Jason Pereira's LinkedIn
• Woodgate.com – Sponsor
• Podcast Editing
• https://theoasisgrp.com/
• https://www.linkedin.com/in/johnokoconnell/

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