Could inStream be the Next Big Thing in RIA technology?

A no cost advisory platform is indeed unique and commoditizes a base point value proposition to which consumers can expect. It can also avoid comflicts of interest with a trading desk—the principle inhibitor to fiduciary standing. But, the question is whether this no cost model is self sustaining?

But then, what does the advisor do?

The virtues of technology are terrific, advancing technical competencies beyond the grasp of the individual advisor. Is this the first step at rendering the advisor obsolete?

SCW

Steve,

Good supplemental information and bigger questions.

thanks,

Brooke

This sounds like a wonderful tool, but there will never be a true substitute for human intuiton and reasoning. Remember the old saying about data and computing — GIGO, “garbage in garbage out”.

Absolutely. The whole genesis of this initiative for me was to make advisors the center of it all! That is the only way it works. best//alex

Good Idea…of course it sounds very similar to emoney advisor, which has been around for about 12 years and offers a client web page, total aggregation of client data and updates the data daily, allowing for up to the minute planning. It also alerts the advisor if positions or account values drop, etc. Just sayin’

Yes, I think it is a great program- with Donald Sutherland to boot! I am a fan of any platform that strengthens an advisor’s value proposition as a wealth manager. best//alex

On a personal note: tools that innovate and streamline the management of client accounts and aid my decision making process give me immense satisfaction and help me sleep better at night.

T. Ambrico

T. Ambrico,

Good points, incremental solutions have traditionally been very expensive and have limited applications, but free access changes the equation. Of course planning software as we know it today is an assemblage on desparate calculators with no overarching simplifying prudent process which speaks to fiduciary duty and professional standing.

SCW

SCW,

I see what you mean if you are talking about programs like emoney, in their infancy, but in 12 years they have come a long way, just like Apple, Microsoft, Intuit, and every other software and hardware company out there. Additionally, they aren’t really talking about free access. It seems that for the money model to work, the advisor has to make specific vendor recommendations to the client. Those recommendations would be based on paid advertising, no matter how you word it. That smells like a conflict of interest. Mint, which I have used and appreciated, doesn’t have a compliance regulated advisor in between their recommendations and the client and so isn’t facing the same issue. Incidentally, while I have been a loyal and happy user of Mint, I haven’t used the vendors, because I know they are paid advertising and thus I find the recommendations suspect. Independent research has proven me right on a number of occasions. If the money model can’t work because of compliance issues, Insight will have to charge for services just like the companies already well established in this arena. They may or may not come up with a great product and I wish them well, I just found it odd that this piece wasn’t balanced by accurate comparisons to the big players already offering these services to advisors, albeit, at a price.

T

Zohar Swaine is a top-notch leader and I am confident he will help make InStream a significant player in the industry in the years to come – Mike Byrnes, President of Byrnes Consulting, LLC, www.byrnesconsulting.com
Tweeted this article out at @ByrnesConsultin

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