Advizr Looks To Disrupt The Financial Advising Space

The financial planning and advisory business is known for catering to high net-worth individuals. However, Advizr, one of the contestants in this year's Benzinga Fintech Awards, is a company that seeks to change that by enabling financial advisors to provide advice to all of their clients, regardless of their net worth.

Benzinga recently interviewed Hussain Zaidi, co-founder and CEO at Advizr, on what the company does and how big its market is.

Related Link: Benzinga Announces First Annual Fintech Awards

What Does Advizr Do?

“We are looking to disrupt the financial advice space. Advice, as you may or may not know is a service that goes to very high net-worth clients. We have turbo taxed; so basically, [we have] automated the financial planning process.”

“Financial advisors can now offer that service to any one of their clients,” Zaidi said.

How Big Is The Opportunity?

Zaidi explains the breadth of the market, “There are 1.6 million financial professionals, if you include financial advisors, accountants, personal bankers, insurance agents. Of those 1.6 million, you only have about 100,000 that are doing any type of advice delivery, meaning holistic advice.”

“So, our target market is really to focus on the majority of those advisors that are not offering advice and instead are really just focusing on investment management.”

“So, a fairly big space,” Zaidi concluded.

What's In The Near Future?

“Step one for us is to be able to allow them to offer advice in a scalable way. And then in the future we have got a lot of useful data, which we will be able to share back with the advisors, with the bank, where they will be able to use that to increase their sales as well.”

Watch the full interview and other Fintech Award interviews below.