Credit:1st footage/Adobe Stock Can Digital Engagement Products and Predictive Data Analytics Align With Fiduciary Duties?
"In addition to the financial service industry and the investor, the legal community will need to consider the utilization of new methodologies," writes Frank C. Mindicino of Practice Growth Partners.
March 19, 2024 at 10:15 AM
6 minute read
As we address the topics of digital engagement products (DEPs), predictive data analytics (PDAs), and fiduciary duties, we must recognize that one of the major considerations for this topic must include the greatest wealth transfer in the history of the world which is occurring in the next 21 years. Cerulli Associates has defined the wealth transfer value as $84 trillion. All fiduciaries will be involved to lead and support this historic multigenerational transfer. It is the duty of legal, tax, and financial planning professionals to provide guidance for all the decisions that are required. DEPs will be installed as part of the process.
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