NextCapital's EVP, Rob Foregger, compares the digitalization of client advice to the advent of online banks. NextCapital believes there is room for both a mostly automated client experience and an advisor-centric model. NextCapital's businsess model isn't about replacing but empowering the financial advisor.
Late next year, Rob Foregger plans to offer retail advisors technology to rival any online robo-advisor's platform. Advisors who have avoided moving their businesses online, he says, will see in NextCapital's retail digital advisor platform a way to serve more clients, while still retaining the personal relationships their clients count on. The Chicago-based digital advisor and technology provider believes it can equip individual advisors with multiple asset class models, portfolio analysis tools and advice methodology for affordable rates, due to the benefits of scale NC realizes from its institutional 401(k) managed accounts and portfolio management services. Together, NextCapital's co-founders, Foregger, John Patterson, Dirk Quayle and Jon Hagen, embody the technology that helped open the door to the digital advisor era.