For the second year in a row Benzinga is proud to host the Benzinga Fintech Awards, dedicated to recognizing the most innovative companies in the world of fintech. In anticipation of the May 24 gala, we’re introducing you to those companies that will be in attendance.
Today we introduce Vanare, a robo advisor changing the financial advisers do business.
Benzinga: What do you think makes your offering unique in the fintech space?
Vanare: We are wealth management technology platform that helps financial firms and their advisors grow by delivering roboadvice and traditional wealth management tools, like trading, CRM, portfolio management, performance reporting, account opening, and billing, among others. Our model is to help advisors service existing investor assets as well as position clients for the intergenerational wealth transfer.
Unlike competitors, we provide a holistic platform that can serve both online and traditional clients in a single modern technology. Our services can be purchased as a bundle or individually.
Benzinga: What’s one thing you want users to remember your company by?
Vanare: If we had to pick 3, it would be the user experience, flexibility and customization, and serving both millennial and high net worth clients together. Our focus on innovation and a high quality user experience is a core part of our company’s DNA. We strive to continue innovating in the space, and in particular explore how emerging technologies like machine learning and social video can enhance the advisor-client relationship.
Benzinga: What drives you to get up every single day and work on your business?
Vanare: There is a $60 trillion intergenerational wealth transfer happening, from a generation that has traditionally relied on an in-person advisor relationship to a generation that expects much more of a technology-augmented experience. Advisors need to understand the millennials and engage with them on their own terms in order to preserve the household relationships that have been the cornerstone of the advisor business model. Our desire to innovate and help the industry survive the tectonic shift in how advice will be delivered is an awesome challenge.
Benzinga: Do you offer investors any unique data points that can help their trading/investing decisions?
Vanare: Yes – we leverage the intelligence of our client wealth management firms to offer investors a better asset allocation. Those range from passive beta ETF portfolios, to income models, to social impact investing. We also partner with large asset managers to deliver their intelligence to our institutional clients.
Benzinga: What’s the biggest challenge to your company going forward, and how do you plan on overcoming it?
Vanare: The biggest challenge to online advice is gathering massive market traction and catalyzing change in investor behavior. This implies that B2C companies must build gigantic brands that penetrate the mass market—a prohibitively expensive proposition. Our strategy is to go where our clients already are served by trusted financial institutions, and partner with those advisory firms on scaling their business and helping the client.
Benzinga: What are you looking forward to most about the Benzinga Fintech Awards?
Vanare: We are excited to meet the many innovative companies at the awards and find partnership and customer opportunities. We believe Vanare is THE leader in wealth management technology, and want to highlight how a smart, focused and creative company can change the way an industry works.