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  • Writer's pictureStephen H Akin

Fintech, Embrace the future!

Caveat emptor is a Latin term that means "let the buyer beware." Similar to the phrase "sold as is," this term means that the buyer assumes the risk that a product may fail to meet expectations or have defects.

After 35 years of investing experience I've seen lots of changes. From my early days with PaineWebber where I weathered the October 1987 stock market crash to the transition to online trading and rapidly declining transaction costs. These declining fees and changes in cost structure are ultimately wonderful for the consumer, i.e. investing public.

With this new Fintech approach you will see more and more

collaboration between the creators of the technology and

the providers of financial services. Such a collaboration

between two major players was announced this week. Looking

forward we may see something new in a way for marketers

to sell their wares. I don't think it'll be like the 12b1fee structure of the past where fees came into play when you tried to cash out. It will be subtle and nuanced and probably of small increment due to the scalability of FINTECH in general.

The Tax law changes have reinforced the traditional transaction

fee model used by large institutions. Unbiased advice is more

important now than ever before. As a fiduciary and Registered

Investment Adviser my only obligation is to my client. I can help navigate this ever changing world assisting you with choosing the best service that offers the most value for you to achieve your goals.

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