Advisor unveils new tech solution directory

Financial planner and podcast producer hopes information will become a go-to resource for advisors

Advisor unveils new tech solution directory

An advisor and fintech enthusiast has collated the first Canada-focused tech directory for solutions that could enhance your practice.

Jason Pereira, partner and senior financial planner at Woodgate Financial, has produced a PDF map and an online categorized list of technology solutions relevant to the advisor market.

The drive to produce this non-biased directory came from listeners to his Fintech Impact podcast, who would reach out to him asking for various solutions, as well as Pereira’s own inclination to explore different software. He saw a need and, knowing there was a similar resource in the U.S. produced by renowned financial planner Michael Kitces, he got to work. Like a true Canadian, however, he asked permission first.

He said: “I had already been keeping a running list of tech solutions, not just fintech but also small advisor technology productivity solutions. I have an actual database of about 389 vendors and at some point, it’s hard to keep track of.

“Basically, I was looking at this and thought, ‘I really need to share this information’. Michael’s PDF format was the starting point but I also thought it would be better if there was some sort of searchable option, so that's where the online directory came from.”

There is no ratings system or judgement, Pereira pointing out that what works for one advisor might not work for another. He urged his peers interested in enhancing their service through technology not to wait for their slow-moving firms and test the software themselves. He insisted there is nothing in the directory that will break the bank.

“Where's the pain in your business? What’s especially repetitive or laboursome? I can guarantee you that if you search Google, there are affordable off-the-shelf solutions that can be used in this industry - people just don’t know where to start.”

He added: “There are sites out there where you can actually look at different vendors side by side and look at their different features. But the reality is, in a lot of ways, the financial advisor of the future has to be their own personal CTO and saying that I don't like technology or I suck at it, it’s not an option going forward.

The PDF will likely be updated every quarter of six months, while the directory is being updated on an almost daily basis.