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S2 E1 | The gale of creative destruction | Timeline

Abraham Okusanya discussed how he has seen financial planning business process change over the years, the impact that technology like Timeline has had on the adviser technology market, and the next steps for the industry.

In particular, Abraham states that the main differences he has seen over time is that advisers are caring less about the investing side of business, and more about developing a plan and healthy relationships with their clients. 

Abraham Okusanya is the founder and CEO of Timeline, a financial technology company on a mission to help millions of people plan, invest and retire with confidence. In 2018, Abraham recognised a lack of technology in the financial advice sector, and so founded Timeline, whose mission is to create best of breed technology that helps advisers plan, invest and deliver advice to their clients.

After a decade of consulting for some of the best and brightest financial planning firms, Abraham came to the conclusion that financial advice technology is lacking. “Old, outdated, and creaking at the seams.” Abraham isn’t scared to say that technology in the financial sector is lacking modernity, as advice technology components such as the platform, the CRM and Cashflow are “built on an infrastructure that is pre-digital age.”

“I am convinced that the gale of creative destruction is going to sweep the platform market unless the incumbent sit up and really start pulling their weight”… Abraham warns of the upcoming demand for tech leaders to adopt efficiencies with reporting and communication processes… or else! 

Tune in to this episode of The AdviserTech Show podcast hosted by moneyinfo’s MD Tessa Lee, as she speaks to Abraham Okusanya about how integration has the ability and potential to push efficiencies with reporting and communication processes, and the barriers that are stopping it from happening right now.