Next Avenue: How financial technology may alter your relationship with banks and brokers over the next 10 years

by | Oct 25, 2022 | Stock Market

This article is reprinted by permission from NextAvenue.org. A decade has passed since a burst of innovation began to push fintech into the mainstream. Banking on a smartphone, sending cash via peer-to-peer payment services and using automated portfolio managers were once exotic, relatively niche services then, but are commonplace today.

What changes are coming in the next 10 years? Fasten your seat belt as we take you on a tour of tomorrow.Wider access to alternative investments “Alternative” investments — a broad category that includes collectibles like wines, cars, art, stamps, coins and even baseball cards as well as real estate, natural resources and infrastructure projects — have grown more popular over the last decade, although minimum-investment rules have kept many small investors on the sidelines. Check out: Cannabis legalization goes up for a vote Nov. 8 in five states with a combined adult population of 13 million New fintech firms, by offering the ability to invest in fractional shares of alternatives, can help that investment class go truly mainstream and usher in three changes in how many people invest. First, direct access to alternative investments will likely become more common at large financial service firms. Today, investors seeking access to alternatives usually have to open an account at a specialized service such as an art investing platform or a real estate crowdfunding firm. Fintech may enable investors to buy and sell alternatives under the same login as their main brokerage account. See: Should you try alternative investments? Here’s what experts say, how much to put in, and what to watch for.Stock tips from a robot Second, robo advisers — online-only financial advice services that manage clients’ investment portfolios with little to no human interaction — may start to incorporate alternatives into their robo portfolios. The wall currently separating alterna …

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