Interview with AdviceTech.LIVE Speaker Tony Stich of Naviplan (Advicent)
Tony Stich
Chief Operating Officer at Naviplan by Advicent
AdvisorTech.LIVE Moderator: Financial Planning
How did you get your start in financial services?
Whenever anyone asks about my career, I always lead with “I did some time at AIG” which is entirely true. My first job out of college was at AIG Valic, which was ultimately a very formative time for my financial services career as I learned the “ins and outs” of the retirement space. This was a time where I truly began to appreciate the value of money as it directly correlates to what type of retirement someone is to enjoy.
Following that, I moved into traditional banking for the vast majority of my career before being recruited by Advicent. Our mission “to enable everyone to understand and impact their financial future” is a guiding principle to what we do at Advicent, as well as what I love about our industry. I’ll be in FinTech for the rest of my life.
What’s something that you know now that you wish you’d known when you started your career?
Embrace feedback as a way to better yourself as a professional and as a person. Take each opportunity to grow, welcoming advice and thoughts from different perspectives. Oftentimes those earlier in their careers take feedback personally when they should realize it is an avenue for growth.
What excites you most about the financial advice profession right now?
Many of us are marching toward the same horizon: to democratize wealth management for all. Technology is a great equilibrium. In the past, advice was limited to higher wealth classes due to time constraints. Now, with technology acting as a complementary solution to make advisors more efficient, the positive result is getting financial plans into the hands of more people – often those normally looked over. This excites me greatly.
Is there something your company does that you don’t think advisors know about that they should be aware of?
NaviPlan by Advicent has been undergoing a significant technological transformation over the last few years. We’ve completely revamped our user interface; introduced new functionality including Guided Retirement; but the big story? We have decided to offer our client portal for free to all new and existing users through 2021.
We felt it was important to step up and give back during this global pandemic, and quite frankly, the results speak for themselves. Our promotion – which is still available until the end of the year – has empowered hundreds of new advisors and thousands upon thousands of clients to gain digital access to their financial plans.
Any words of advice for advisors looking to update their tech stack?
Pick the magic three of which you can become an expert – the three technologies that will help you grow your business through efficiency, automation, and added value to your business. But even more important: make sure the budget makes sense; the integrations are meaningful; and that you’re buying into the company’s vision, and customer service, not just the tech.
What are you looking forward to the most about attending AdviceTech.LIVE?
It’s exciting to see 26 of the most respected leaders in our industry making themselves accessible for honest and meaningful conversations around the future of advice. Plus, half of the proceeds are going to diversity and inclusion efforts led by the CFP Board – this event is truly a win-win for our industry.