• Neal Shikes

The FinTech Fiduciary


Many participants in the financial services industry utilize FinTech for financial planning, analytics, client reporting, portfolio management, etc. All technology, however, leaves a footprint of evidence as to how it’s being applied. If one is in the business of giving impartial and transparent advice, then there is no better median of making the evidence visible than FinTech.

Being committed to providing advice in a client’s best interest is one facet of having the legal responsibility of a Fiduciary. Often overlooked is the matter of oversight of service providers. The supervision of partners in the Fiduciary process can be evident if financial technology is properly applied to the process. Insofar as applying technology to satisfy the DOL’s Fiduciary Duty Rule, that may mean identifying the roles, actions, and strategies of Record-keepers, Administrators, Auditors, Investment Advisors, and Attorneys by ledgering all interactions.

A FinTech Fiduciary with optimized FinTech has an elevated cognizance of oversight.

#Fintech #FiduciaryAwareness

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