Posts in financial advisors
What TikTok's GenZ financial influencers mean for RIAs, wealthtech, and financial advice
What TikTok's GenZ financial influencers mean for RIAs, wealthtech, and financial advice

This week, we look at:

  • TikTok has become a platform with billions of views for investing and stock recommendations to teens. This emotional and persuasive labor can be traced from Jim Cramer to Roaring Kitty.

  • 78% of Millennials (vs. 31% of Boomers) plan to use more digital tools in wealth management and 81% of them think that technology has made investing more efficient (vs. 61% Boomers)

  • This generational change has implications for investing technology, digital wallets, and the role of people in the financial advice process

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roboadvisor, digital investing, generational change, financial advisors, social & communityLex SokolinTikTok, Roaring Kitty, Jim Cramer, YouTube
Goldman is trying to build a Fintech powerhouse, and this is how they should do it
Goldman is trying to build a Fintech powerhouse, and this is how they should do it

This week, we put on the Goldman hat and go shopping for companies. We buy a little bit of Folio and sell some Motif. We look at Personal Capital and the $1 billion it wants for its $12 billion of assets. We examine the private markets with Addepar / iCapital and SharesPost / Forge, and then move over to the banking sector. Should we buy Wells Fargo, as rumored, or some digital wallet apps? Read on for how to acquire a best-in-class Fintech.

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acquisition, digital investing, digital lending, digital transformation, financial advisors, neobank, roboadvisorLex SokolinGoldman Sachs, Monzo, United Capital, Motif Investing, FolioFn, Schwab, Fidelity, BNY Mellon / Pershing, Marcus, Honest Dollar, Clarity Money, Morgan Stanley, eTrade, Personal Capital, Yodlee, Sharespost, Forge, Addepar, iCapital, Artivest, Square
Goldman pays $750M for wealth platform United Capital, Jefferies gives blockchain-lender Figure $1B
Goldman pays $750M for wealth platform United Capital, Jefferies gives blockchain-lender Figure $1B

Two things are on my mind: (1) the acquisition of United Capital by Goldman Sachs, and (2) Mike Cagney's Figure securing a $1 billion funding line from Jefferies and WSFS for blockchain-tracked home equity loans. Both are outcomes of complex, interesting, somewhat unexpected processes -- and both are examples of demand-driven market expansion. Let me highlight that again. Both of these are consumer-centric developments, and not product-driven developments, which goes to the core of the problem in the financial services industry.

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enterprise blockchain, digital lending, marketing, financial advisors, acquisition, funding roundLex SokolinGoldman Sachs, Figure, United Capital, Dynasty Financial, Vestwell, Marcus