The idea of a strategic partnership is to combine and connect the expertise of two partners to expand both company’s reach. The ultimate goal is to drive growth and to cope with rising competition. Strategic partnerships also enable access to new markets and customers without investing additional capital into product development or expansion of their territory.
Strategic partnerships in the financial technology space must also provide value to clients through time-savings thereby advancing their financial well-being. Strategic alliances between FinTech providers, should not only benefit partners, but more so, the companies and advisors we all serve.
At Advisorpeak our strategic partnerships must benefit everyone: our business partners and the advisors that use our software. More importantly, partnerships help to form strong connections between our advisors and our partners as we all work together to help everyone achieve their goals. This collaboration is the ‘service aspect’ of all strategic partnerships- to serve others.
“Partnerships never go out of style. Companies regularly seek partners with complementary capabilities to gain access to new markets and channels, share intellectual property or infrastructure, or reduce risk. The more complex the business environment becomes—for instance, as new technologies emerge or as innovation cycles get faster—the more such relationships make sense. And the better companies get at managing individual relationships, the more likely it is that they will become “partners of choice” and able to build entire portfolios of practical and value-creating partnerships.”—Mckinsey, Improving the management of complex business partnerships
A strong focus on partnerships – rather than just transactional relationships, brings much more expertise and value to the wealth management industry. Our strategic partners help influence us to refine and upgrade our software continually. There is a common goal among all of us to provide the best FinTech solutions in the wealth management industry.
As we gather tonight at WealthManagement.com 2021 Industry Awards ceremony, we are grateful for the two nominations we’ve received. And regardless of who wins, we know we are surrounded by the best in the industry—some of them already our strategic partners. Advisorpeak is a collaborating team of individuals working together to bring the wealth management industry the highest value and choice in trading and rebalancing software. We encourage you to discover the strategic partner integrations available through our strategic partners.