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Magii, Inc Discusses the Impact of Technology on Wealth Management Techniques

Posted on 06/24/2014

magii, Inc, a wealth management, retirement and employee benefits consultant based in Hauppauge, NY, comments on an article published by CNBC titled “Technology to spark big changes in financial services.”

According to the article, technology will transform the way that wealth management companies do business. “While new technology solutions will increasingly take the grunt work out of the day-to-day business activities, it will also commoditize advisor services, according to industry pundits. To that point, technology will put pressure on firms to increase the human element in an effort to stand out from the competition.”

Since technology will have an increasingly important role in wealth management firms, the article points out that the differentiating factor between companies will be in their ability to connect with their core customers on a one-on-one basis. The article, which summarizes a statement made by Tom Nally, president of TD Ameritrade Institutional, notes that “in the future the wealth-management business will become more client-centric.”

Mark Gajowski, CFP, CLU, CEBS founder and CEO of magii, agrees with this statement. “Although we value technological advances and the enhanced service experience that it provides our clients, we fully believe that it will never replace the human element.  As such, our people, our expert network, vendors and most importantly our client, will be the focal point of services here at magii. We believe in creating real value and making a substantial difference in our wealth management clients’ work and personal lives.”

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