The Daily Brief
How FinTech Disrupted the World

How FinTech Disrupted the World

Just how much has fintech disrupted the world? Now you can see all 1,362 companies and $25.8 billion in funding across 54 countries in a single infographic. It even shows the countries that provide the most attractive ecosystems for fintech startups (Israel, U.S. and U.K.) as well as where governments have actively supported fintech, such as New York City tripling its investments in accelerators, incubators and competitions. Wealthfront was the sole wealth management technology to stand out in the “top 10 most innovative fintech companies in 2015,” according to H2 Ventures and KPMG, but Betterment was named as a “company to watch in 2016" even before its recent round of funding. The acquisitions of Yodlee and SunGard Data Systems by Envestnet and Fidelity, respectively, stood out as some of the biggest headlines of the year.

 

“Wealth Challengers” Outperform “Relationship Builders”

Financial advisors who challenge clients and pressure them to make difficult decisions outperform advisors who are better at building rapport with clients, according to research by CEB. But these “wealth challengers” are pushy in a way that doesn’t break the rules, CEB writes in a recent blog post. These type of advisors aren’t aggressively selling their clients products they don’t need or inadequately communicating risk to their clients. Rather, they take an assertive approach, CEB says, motivating clients into action. Clients are more likely to say these advisors are, in fact, “looking out for the client’s best interest.” “Behavioral finance confirms that individuals often make decisions counter to their own best interests. And to differentiate, tension and influence—in the form of challenging and pressuring—is productive and highly valuable,” CEB writes.

 

Y’all Wanna Fight Over a Dead Body?

When it comes to estate battles, people will fight over just about anything, including the dead body itself. One such conflict is currently brewing in Texas courts, as the cousin and self-described common-law wife of famed attorney John O’Quinn (once deemed the “King of Torts” by Forbes) squabble over his remains, according to The Houston Chronicle. John died in 2009 and was interred in a mausoleum on the Houston ranch he shared with Darla Lexington, his companion of over a decade. In 2014, funeral home workers moved the body to a separate resting place in Pollack, Louisiana, on the orders of his cousin, Carol Anne O’Quinn. Because Darla and John were never married, Carol Ann is technically his surviving next of kin, so she was able to sign off on the move without Darla’s consent. Darla is suing Carol Ann for “wrongful disinterment,” which raises interesting legal questions as to exactly what rights Darla held. Carol Anne dismisses Darla as “nothing but a live-in mistress” with no claim to John.

 

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