By Trista Vincent
(September 30 – 13:00 ET) – It’s easy to get caught up in the latest gadget as a means of facilitating change, says Tod Maffin, futurist, technology consultant and the keynote speaker at today’s session of the Investment Funds Institute of Canada conference in Toronto. But customer service is still the key in the investment industry, he says.
Mafin spoke with enthusiasm about emerging technology products and services. “There has been, and will continue to be a power shift to the consumer-investor,” said Maffin.
Exclusive access to information will be a thing of the past thanks to advances in technology. The increased popularity of open forum conference calls and do-it-yourself investing, as well as changing regulations surrounding disclosure, are all factors helping to level the power structure, says Maffin.
He forewarned of the coming of the do-it-yourself exchanges, urged those in marketing to package funds around lifestyle choices versus asset allocation, and advised companies to link products to people’s needs – such as saving for a child’s education.
To mutual fund dealers and other conference participants, Maffin counselled that technology is an an aid; it can never become a substitute for customer service.
-IE Staff