FinTech in Personal Financial Planning

Do you know that you can pay your auto insurance at a fixed mileage rate? Do you want to trade stocks without paying any commissions? Would you like to buy a rental property online in another state without being worried about managing the property? Are you aware that you could invest for free in a well-diversified portfolio, which is used to be only available for wealthy people? Have you thought about buying or selling your car at a better price without leaving your home? Would you believe that you could sell a portion of your home equity? They are all possible now thanks to FinTech in personal financial planning.

FinTech stands for financial technology. Technologies have changed and keep changing our lives. As a financial planner, I am always trying to adopt new technologies to better serve my clients. More importantly, I also feel the responsibility of helping my clients to identify and screen those new products and services created and distributed directly to the clients through technologies. All these years, I have constantly been learning and have accumulated some knowledge and resources by reading publications, attending conferences, and following the startups in the industry. Furthermore, I have been using some of the products and services for my own financial plan after doing some due diligence by myself. In this post, I will share with you the list I compiled of some FinTech companies in personal financial planning. I have not performed due diligence on all the companies on this list, and I am not recommending any specific one to you without knowing your specific situation. The list should be used as a resource and a start point of your own due diligent process. 

The list below is an interactive map. You could click the knot for more details in each category and then click the arrow icon to go to the website of each specific company.

It is true that many startups fail. Some companies on my list today may go out of business in a couple of years later. However, it is not necessarily a bad thing for a consumer. In 2015, we sold one of our cars through an innovated online used car trading platform which was bought by another company last year. After reading our basic information, a technician was sent to my home and evaluated my car’s condition. My car was picked up within 30 days, and I received a check. We sold our car at a very competitive price to this company and had a great overall experience with them. Some similar platforms also offer free inspection at your place and free pick-up once your car is sold. But none of them will use their own money to buy your car at a guaranteed price if it has not been sold in 30 days. As a consumer, I find it beneficial if you could get to know those latest FinTech companies and take advantage of their great offering timely.

Again, I highly recommend you to do your own due diligence before using any products and services. And I will keep the list updated.


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