WealthTech on Deck

A growth mindset is crucial for companies and individuals operating in the wealth and asset management space.   This week’s guest on the WealthTech on Deck podcast, Tim Williams, works to help industry professionals advance their careers in his role as EVP of Education Initiatives at the Money Management Institute.   Tim’s recipe for career growth consists of three main ingredients: avoid the pitfalls of “short-termism,” expand your network to connect with other innovators, and learn from the industry’s past to shape its future.   Above all, remember that “what got you here is not going to get you there,” and maintain a constant focus on advancing your skill set.   https://lnkd.in/eYa8Fksr

The AI revolution isn’t coming – it’s here. And it has the potential to help advisors deliver better advice to more people.   According to Rob Pettman, president and CRO of TIFIN, AI has the potential to: 1) “Supercharge” organic growth 2) Increase efficiency 3) Scale Advice   In this week’s episode of the WealthTech on Deck podcast, Pettman zeroes in on two types of AI that are relevant to wealth and asset management: supervised AI and generative AI. Listen to the episode to find out what each type of technology has to offer the industry.   AI is complex, but it can be made simpler by turning to the right partners. Pettman’s advice is as follows: “Look for partners, inventory the space, see what’s possible.” https://lnkd.in/dqZTW5Cy

This week’s guest on WealthTech on Deck said he knows what it’s like to “take it on the chin.”    He’s Robbie Cannon, founder, board member, and former CEO of RIA Horizon Investments®. He started the goals-based asset manager 25 years ago, right before the dot-com bubble burst.    He told podcast host Jack Sharry that successful entrepreneurs will figure out how to weather the markets. Horizon did.    Listen to Cannon’s thoughts on the future of asset management and fintech and what he’s doing to help emerging asset managers gain distribution and compete in today’s marketplace. https://lnkd.in/dTDGDRUz

I decide.     Sounds like something a teenager might say. But it’s what financial services clients are thinking, says this week’s WealthTech in the Weeds guests.    Michael Liersch, head of advice and planning at Wells Fargo, joined host Jack Sharry and LifeYield’s Harry Bartle for a rousing conversation about how the financial services industry underestimates clients’ savvy and desire for autonomy.    Liersch described how Wells Fargo’s LifeSync financial planning experience lets customers express and expand on their goals, survey their accounts, and learn more about core financial principles.    Listen to find out what has attracted more than 4 million users to LifeSync and how Wells Fargo’s bankers and financial advisors stand ready to support them.   https://lnkd.in/ddyFpKsb

Build, buy, or partner?       That’s what technology, product, and service decisions often come down to in wealth and asset management.    Future success will depend on companies lowering of their ramparts and rethinking what they do and why they do it, says this week’s guest on the WealthTech on Deck podcast.    “You may actually have to engage with what has historically been a competitor,” Mike Lee, global wealth and asset manager leader at EY, told host Jack Sharry. “At the end of the day, the organization will be in a better spot by doing it this way versus the desire to build and own everything on your own.”    Listen to hear more from Lee about trends defining wealth and asset management today.    https://lnkd.in/dkGHjNUU

Build, buy or partner?       That’s what technology, product, and service decisions often come down to in wealth and asset management.    Future success will depend on companies lowering of their ramparts and rethinking what they do and why they do it, says this week’s guest on the WealthTech on Deck podcast.    “You may actually have to engage with what has historically been a competitor,” Mike Lee, global wealth and asset manager leader at EY, told host Jack Sharry. “At the end of the day, the organization will be in a better spot by doing it this way versus the desire to build and own everything on your own.”    Listen to hear more from Lee about trends defining wealth and asset management today.    https://lnkd.in/dkGHjNUU

Financial advisors respond to the bell of major client life events — marriage, births, divorce, launching a young adult, and retirement.     What many can’t do in those situations is provide practical advice on one of the clients’ major financial concerns—healthcare costs, including insurance.         This week’s guest on WealthTech on Deck is Christine Simone, CEO and co-founder of Caribou Wealth. She described for host Jack Sharry how Caribou technology helps advisors identify clients’ best options for insurance coverage, taking into account their medical, dental, and vision needs.    Real money is at stake, whether clients choose a health plan at work, through an insurance exchange, or Medicare. Simone said Caribou helps clients save an average of $6,600 a year.     Listen to find out how. https://lnkd.in/e2kxYDuV

Every financial services firm and advisor is looking for a leg up.   This week’s guest on Jack Sharry’s WealthTech on Deck podcast suggests making the quality of your client relationships a strategic advantage and growth accelerator.   He’s Tom Rieman, CPWA, CEO and founding partner of Practice Intel. His firm’s platform provides advisors with client research, data analysis, education and training.     “Most advisors aren’t delivering a differentiated offering that people really care about,” he said.   He said those who aren’t afraid to ask their clients for frank feedback and learn from it will see their revenue grow. https://lnkd.in/dzKHeAD2

Some guests have stories that demand more time than a podcast allows.   Erich Holland, head of sales and experience for SEI’s advisor business, was that kind of guest.   His telling of the 56-year history of SEI, a multinational company, and its focus today on the confluence of digital and human advice motivated host Jack Sharry to write more about the company in FA Magazine.   https://lnkd.in/eTisuu-v

This week’s guest on WealthTech on Deck thinks it’s time we stop talking about the future of financial advice.   Why? Because it’s too late.   According to Danielle Learned, chief of staff and head of sales execution at Horizon Investments®, the future is here.   Listen to her conversation with podcast host Jack Sharry to learn about Horizon’s philosophy of goals-based investing and products to support advisors who embrace it. https://lnkd.in/edmixJJv