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Vice President, Financial Services Kim Muhota spoke with Financial Advisor Magazine about how the commission-free stock trading app Robinhood has disrupted the fintech market.
Kim looks at the potential fiduciary risks the app and ones like it could face down the road stating, “Innovation is way ahead of the curve relative to regulations, and regulators need time to catch up. I think at some point the regulatory burden over a platform like Robinhood will continue to get more stringent; especially if there are more incidents of consumers losing money from a lack of control, you’ll see Finra and other regulators pay closer attention.”
He notes how the popularity of Robinhood is telling of future trends in consumer investing habits explaining, “The real learning opportunity is zeroing in on what it is about Robinhood that attracts the Gen X, Y and Z investor, and determining how you can apply them to your own platforms.”
Read the full article here.
Kim Muhota is Vice President in the Financial Services practice of SSA & Company