Benzinga Fintech Awards: Advizr

The financial planning and advisory business predominately caters to the high net worth individuals. However, Advizr, oe 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 & CEO at Advizr, on what does the company do and how big is the market it is catering to.

What Advizr does?

“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 tax, so basically automated the financial planning process. So that financial advisors can now offer that service to anyone of their clients […],” Zaidi said.

How Big Is The Opportunity?  

“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, 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.”