TD Ameritrade's Dani Fava Has Left the Firm

Recent Remarks on Tech, Trends

On Monday during a webcast, Fava reinforced her view that advisors need to become familiar with podcasts, video conferencing, cryptocurrency, artificial intelligence, crowdfunding and income-sharing agreements.

These trends "will continue to dramatically change your businesses, your customers and their interactions," she said.

The "involuntary tech revolution" happening today is the result of people everywhere being "forced to adopt technologies in ways that they did not even want to adopt [or] expect that they were going to adopt, but out of forced necessity had to adopt" as a result of the pandemic, according to Fava. 

"And once the mind expands, it can never go back," she added, predicting that "these adopted technologies are going to change customer interactions like never before."

At the same time, decentralization is occurring across the financial services industry and is "showing up everywhere," Fava said, as a result of general "mistrust [in] and the movement away from" large, centralized institutions. 

This situation also is behind clients' increasing interest in cryptocurrencies, she explained, along with other factors. 

Crowd lending and income-sharing agreements are also part of this decentralization trend, Fava said. The pandemic and involuntary tech revolution have "pushed all of these trends and accelerated them forward," she noted.