“The future happens slowly, and then, all at once!” – Kevin Kelly, Founding Editor at Wired magazine.
That, in a nutshell, was the modern day leadership dilemma that I presented to the CEO and senior team of a major company in the US financial services industry, at their corporate meeting last Monday in Dallas. Before I met with them, I put together my early morning “motivational quote of the day” and came up with this observation.
(Learn more about these daily quotes here – and take part by following me on various social networks!)
I put the quote together that morning based on my slide deck for the day: I was covering the key trends which would impact the world of insurance, banking, wealth management, investment advisory services and more going forward. And here was the big issue I was challenging them with that was the sub context of my talk – when it comes to the future, the big challenge is not necessarily knowing what the trends are — it’s increasingly, ‘when are they going to happen?’
We might have any number of trends which will impact financial services going forward – artificial intelligence, blockchain, disintermediation, robo-advisors, the acceleration of expectations, the emergence of new competitors, social-network driven wealth management and more. Yet, when might any of these trends become real and have a significant, disruptive impact? That can be a bigger issue than the trends themselves!
Consider one of the most overwhelming and challenging trends in the industry — will direct broker relationships survive in a world in which consumers are doing more and more online? It’s a trend known as “disintermediation,” and I’ve been speaking about it on stage for close to 25 years. Read my post from 10 years ago about the potential for change in the wealth management industry, when I did a talk for the National Australia Bank!













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