Author: trtnetwork
In retirement planning, annuity often raises mixed feelings among individuals. Some may shy away from it, while others might be skeptical due to misconceptions. But, it could be the missing puzzle piece to secure one’s golden years. It bears striking similarities to cherished pillars of financial security such as social security and pensions, capturing the essence of a reliable and steady income stream during retirement.In this episode, Jack talks with Thomas Buckingham, Chief Growth Officer at Nassau Financial Group. Tom joined the company as an actuarial assistant in 1999 and served in increasingly senior corporate, product development, and operational positions.…
Episode 008: Technology has opened new possibilities. Advanced tools and digital platforms have empowered wealth managers to streamline processes, enhance client experiences, and optimize portfolio management. However, the heart of wealth management remains in its human touch.
In this episode of Connected, Kyle Van Pelt and Jud Mackrill are joined by Matt Sonnen, Chief Operating Officer at Coldstream Wealth Management. They talk about building better connections and achieving operational excellence in wealth management. Matt also shares his love for classical music and the story between his newborn son and Van Halen.
Also the founder of the COO Society, Matt discusses the challenges and opportunities in the financial services industry, including the impact of consolidation and the need for better technology integration.
At the end of the show, Matt shares a story about his daughter, Layla Paige, and how his experience has led his family to be a part of TrinityKids’ philanthropic mission.
Join us as we discuss:
[01:35] – The story between the birth of Matt’s son and Alex Van Halen.
[04:02] – How Matt developed a love for classic rock.
[06:21] – Matt’s advice for building better connections.
[13:36] – The challenges and importance of operational excellence in firms.
[15:27] – Tips for hiring a COO.
[18:30] – The impact of consolidation on COOs and operations.
[21:57] – Data challenges in the financial services industry.
[24:57] – The role of technology in the lives of advisors.
[27:48] – Key KPIs for COOs.
[34:37] -The shift towards goals-based financial planning.
[44:31] – Matt’s story about Layla Paige.
[50:45] – Matt’s top advice for a company looking to supercharge its growth.
Key Takeaways
Building connections with others is best achieved through humor, simplicity, and genuine human interaction.
The role of a COO is multifaceted, involving managing technology, human resources, and day-to-day administration.
The challenge of data integration persists in the industry, and the key to solving it lies in finding tools that truly integrate and streamline workflows.
The industry is shifting towards a goals-based approach in financial planning, focusing on helping clients achieve their specific goals and providing personalized service.
Organic growth can be achieved by identifying a niche and providing value beyond investment management, such as specialized expertise and services tailored to specific client needs.
Quotes
“Tech is great. But it has to be used to support the human interactions that we’re having with clients and prospects.” ~ Matt Sonnen
“If you’re solving unique problems for a small subset of the population, you’re going to grow exponentially faster than the majority of RIA that just say, we work with individuals and institutions ranging from 5 million to 25 million.” ~ Matt Sonnen
“Having a client niche and a focus on who your ideal client is and what you’re doing for them is how you supercharge your growth.” ~ Matt Sonnen
Links
Matt Sonnen on LinkedIn
Matt Sonnen on Twitter
Coldstream Wealth Management
PFI Advisors
Vestia Wealth Advisors
Geometric Wealth Advisors
TrinityKids Care
The COO Roundtable Podcast
Connect with our hosts
Milemarker.co
Kyle on LinkedIn
Jud on LinkedIn
Subscribe and stay in touch
Apple Podcasts
Spotify
YouTube
Google Podcasts
Produce game-changing content with Turncast
Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com.
Marketing in financial services has transitioned to being a strategic imperative. Financial firms are now recognizing the power of marketing to drive organic growth, capture new markets, and capitalize on untapped opportunities. As the industry explores the potential of marketing, they unearth the chances for exponential growth and enhanced brand recognition. The journey may have started later for financial services, but they are undeniably on their way to realizing the transformative potential of effective marketing.In this episode, Jack talks with John Wernz, Executive in Residence at Great Hill Partners. John has spent over 20 years as a leader in financial…
In pursuing an optimized tech stack, wealth management firms are engaged in a relentless game of integrating and coordinating their operating systems. From sophisticated analytics tools to artificial intelligence-driven platforms, these advancements hold immense potential for both financial advisors and their clients. As the trend gains momentum, firms realize the need for comprehensive and strategic approaches to their technological infrastructure.In this episode, Jack talks with Craig Iskowitz, Founder and CEO of Ezra Group, a strategy consulting firm providing technology and business advice to banks, broker-dealers, asset managers, private equity, and fintech firms. In addition to providing customized solutions to the…
Episode 007: In financial services, relationships are everything. The best advisors build deep connections with their clients, understanding their needs and goals. Discover how financial services professionals are shaping a brighter, more client-centric future, from the power of co-creation to innovative marketing techniques.
In this episode of Connected, Kyle is joined by Diana Cabrices, Founder and Fractional Chief Evangelist of Diana Cabrices Consulting. Diana shares her insights on building connections, executing successful succession plans, and creating standout brands in the financial advisory industry. She emphasizes the importance of vulnerability, storytelling, and personalized experiences in connecting with others.
With a background in technology and a passion for supporting financial advisors, Diana also discusses the future of the financial industry, highlighting the need for tech-enabled companies and the growing importance of online reviews.
Join us as we discuss:
[01:17] – Introduction to Diana Cabrices.
[02:50] – Diana’s advice on building great connections with others.
[07:07] – Tips for connecting with an audience during presentations.
[10:28] – The role of a chief evangelist.
[16:28] – What it takes to execute a successful succession plan.
[19:36] – Insights on the future of the financial industry.
[22:02] – The importance of reviews in decision-making.
[28:40] – Strategies for building a standout brand as a financial advisor.
[34:46] – Diana’s experience teaching English abroad.
[39:57] – Tips on how financial advisory firms can supercharge their growth.
[42:19] – How to get connected with Diana.
Key Takeaways
Building connections requires vulnerability and the willingness to initiate conversations.
Successful succession planning involves starting early, asking the right questions, and focusing on compatibility and overcommunication.
To stand out in the financial advisory industry, firms should invest in marketing, creativity, and personalized experiences.
Online reviews play a crucial role in decision-making for financial services, regardless of whether the service is transactional or long-term.
The financial industry will likely see a cleanup and a shift towards tech-enabled companies prioritizing education and co-creation with clients.
Quotes
“Tech companies want to build better connections with advisors, and they know having great people at the forefront is the best way to do that.” ~ Diana Cabrices
“Approach succession planning and M&A as you approach a new relationship on a romantic level. If you truly want to find that good fit, you have to dig deep. Compatibility and over-communication are key to any successful succession plan.” ~ Diana Cabrices
“The best advisors that are going to do it right, that are going to be strong in this future industry that we have, they’re going be focused on not just giving a client a plan but co-creating through that whole process.”~ Diana Cabrices
Links
Diana Cabrices on LinkedIn
Diana Cabrices on Twitter
Diana Cabrices Consulting
Aaron Klein
Nitrogen Wealth
BrightLocal
Snappy Kraken
Orangetheory Fitness
Connect with our hosts
Milemarker.co
Kyle on LinkedIn
Jud on LinkedIn
Subscribe and stay in touch
Apple Podcasts
Spotify
YouTube
Google Podcasts
Produce game-changing content with Turncast
Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com.
In today’s mobile workforce, Americans are chasing new challenges, higher salaries, and better benefits by switching jobs. According to the Employee Benefit Research Institute (EBRI), the typical 401K plan participant will have 9.9 jobs throughout their professional journey, equating to approximately 14.8 million workers with retirement savings finding new jobs each year. While transitioning to a new role sounds appealing on paper, what happens to the 401K plan that employees spent so much time contributing to when they leave their former employer? This week, Jack talks with Neal Ringquist, Chief Revenue Officer for Retirement Clearinghouse, and Spencer Williams, President and CEO,…
Episode 006: The art of building strong connections in the wealth management industry transcends the conventional boundaries of finance. Building better relationships entails a commitment to understanding the needs and aspirations of others.
In this episode of Connected, we talk with Brad Johnson, Principal and Co-Founder of Triad Partners. Brad shares his insights on building better connections and the future of the insurance industry. He emphasizes the importance of putting others first and seeking to understand their needs.
On the topic of insurance, we focus on the need for financial advisors to have a diverse toolbox of financial tools and connected technology to provide the best service to clients. Brad believes that there is a growing demand for insurance products, particularly among the aging baby boomer population.
Also, Brad talks about his podcast, Do Business. Do Life. The show is about helping financial advisors create unlimited growth and freedom in their life and business and do it faster than ever.
Join us as we discuss:
[01:17] – Introduction to Brad Johnson and how he got into the advisory industry.
[03:52] – Brad’s advice on building better connections.
[10:57] – How to build long-lasting connections with high-status people.
[15:11] – What it means to add value to high-status people.
[20:17] – Creating epic experiences for clients.
[23:13] – Building connections and creating great experiences at in-person events.
[30:37] – How advisors should think about insurance.
[36:48] – Future of the insurance industry.
[45:27] – The art of selling.
[51:05] – What hard work looks like in today’s era of knowledge work.
[56:12] – What Do Business. Do Life podcast is all about.
Key Takeaways
Building strong connections requires putting others first and seeking to understand their needs.
Advisors can uncover the prospect’s goals and dreams by asking thoughtful questions and listening actively. This deeper understanding allows advisors to create personalized financial plans that align with the prospect’s values and aspirations.
The key to building deep connections is to go beyond the initial meeting and continue the conversation, show gratitude, and add value to the relationship.
The insurance industry is undergoing a significant transformation, with the aging baby boomer population driving the demand for insurance products.
Quotes
“In business, if you start with the end in mind, whether it’s a podcast, how do I serve the listener? Whether it’s your business model, how do I serve the end client first? If you help enough other people get what they want, you’ll get what you want in life.” ~ Brad Johnson
“The core of connection is understanding first. You have to seek to understand.” ~ Brad Johnson
“The more you know about people, the more you know what makes them tick, which means you can do special cool things to connect on a different level.” ~ Brad Johnson
Links
Brad Johnson on LinkedIn
Brad Johnson on Twitter
Triad Partners
Do Business. Do Life Podcast
How to Win Friends and Influence People
Never Eat Alone
The Richest Man in Babylon
Michael Hyatt
The Family Board Meeting
Ron Carson
Way of the Warrior Kid
Christopher Smith
The Almanack of Naval Ravikant
The Compound Effect
Connect with our hosts
Milemarker.co
Kyle on LinkedIn
Jud on LinkedIn
Subscribe and stay in touch
Apple Podcasts
Spotify
YouTube
Google Podcasts
Produce game-changing content with Turncast
Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com.
The evolution of annuities within the wealth management advisory space exemplifies a commitment to elevating the client experience. Through technological advancements, data analysis, and streamlined processes, annuities have emerged as an essential building block in portfolios. This transformation not only benefits clients but also empowers financial advisors to deliver comprehensive and fiduciary-guided solutions that truly align with their client’s best interests.In this episode, Jack talks with Rich Romano, Chief Executive Officer and Co-Founder of FIDx. In his role, Rich is responsible for the company’s strategy, vision, and growth. With 30 years of financial services consulting experience and expertise in the…
The future of the wealth management industry lies in the ability to combine technology with the human touch. AI and data analytics provide better insights, but human connection will always be essential.
In this episode of Connected, we talk with Shannon Rosic, Director of WealthStack Content and Solutions for Informa. A pony savant and fintech ambassador, Shannon shares her six rules for building connections.
We then dive into big themes in the wealth management industry. Shannon emphasizes the need for personalization and the shift in the role of advisors from focusing on retirement to helping clients navigate the decumulation phase and the importance of data and AI in the industry. She encourages advisors to think outside the box and find ways to stand out.
Finally, Shannon discusses her involvement with the Leukemia and Lymphoma Society. She shares the connection she has to the cause and the challenges and rewards of fundraising.
Join us as we discuss:
[01:03] – Shannon’s profile as an entrepreneur and how she fits into the wealth management industry.
[02:43] – The six rules to building better connections.
[08:35] – Shannon’s love for horses and its relation to human connection.
[17:00] – Big themes in the wealth management industry today.
[26:35] – The gadget girl story.
[30:26] – How people can better think outside the box.
[37:24] – Shannon’s involvement with the Leukemia and Lymphoma Society.
[40:41] – Shannon’s favorite sports team.
[44:41] – Ways to connect with Shannon.
Key Takeaways
Building connections is crucial in the finance industry and can be achieved through remembering names, finding common ground, active listening, asking questions, minding body language, and reserving judgment.
The wealth management industry is experiencing constant changes in the tech stack and digitization of client experience.
Advisors need to shift their focus from retirement to helping clients navigate the decumulation phase and address the challenges of increased longevity and financial care.
Data and AI are becoming increasingly important in the industry.
Authenticity and consistency are keys in branding and marketing.
Quotes
“Building rapport is critical because it’s based on trust. It’s how humans connect. It develops out of meaningful conversations and a willingness to embrace different points of view.” ~ Shannon Rosic
“The role of the advisor is no longer about getting people to retirement, it’s about getting them through retirement.” ~ Shannon Rosic
“The winners are going to be the ones that lean into human connection but leverage AI and technology to make themselves and their practices better.” ~ Shannon Rosic
Links
Shannon Rosic on LinkedIn
Shannon Rosic on Twitter
Informa
WealthStack | Wealthtech Event
Ron Bullis
FMG Suite
Flyer Financial Technologies
Wealth Management | Morgan Stanley
InvestmentNews
Matt Ackermann
Mark Bruno
Leukemia & Lymphoma Society
New York Rangers
Kansas City Chiefs
Alex Smith
Patrick Mahomes
The WealthStack Podcast
Wealth Management
Connect with our hosts
Milemarker.co
Kyle on LinkedIn
Jud on LinkedIn
Subscribe and stay in touch
Apple Podcasts
Spotify
YouTube
Google Podcasts
Produce game-changing content with Turncast
Turncast helps your company grow by producing top-quality content and fostering transformative conversations. We specialize in content generation, podcasting, digital strategy, and audience growth for fintech and financial services companies. Learn more at Turncast.com.
Financial services have seen connectivity and collaboration emerge as game-changers, transforming the way advisors engage with valuable resources and reshaping their practices. Contrary to popular belief, it became evident that technology itself was not the sole innovation; instead, the art of collaboration stood as the true catalyst for change. This revelation shifted the focus from a mere pursuit of technological prowess to a quest for a seamless and collaborative connection between financial professionals and their clients.In this episode, Jack talks with Denise Wypiszenski, Founder & Co-CEO of 4U, the financial services industry’s first real-time digital partnership platform for investment and…