Author: trtnetwork

The wealth management industry recognizes that its purpose extends beyond pursuing financial returns. It stands on the foundations of trust and human connections to help individuals live the lives they envision, achieving their dreams and aspirations. However, as technology advances rapidly, one may wonder if automation and artificial intelligence can replace what human advisors bring to the table.
In this episode of Connected, we talk with John Ndege, a former Facebook employee and founder of Pocket Risk, and currently the Founder of Rapid Reply. John shares his journey from working at Facebook to building risk-tolerance software for financial advisors. We discuss the importance of human connections in the wealth management industry and how technology can enhance the client-advisor relationship. 
Having seen a good amount of diversity in his career, John shares his insights about the differences between the US, EU, and UK wealth management industries and the impact of AI on business culture and productivity. 
John also talks about his current venture, Rapid Reply, an AI email system that saves business owners time by helping them write emails faster.
Join us as we discuss:

[02:18] – John’s experience working at Facebook.

[03:49] – Why John is a big fan of the wealth management industry.

[06:54] – John’s journey from Facebook to building Pocket Risk.

[09:19] – Nuances between wealth management in the UK, EU, and US.

[11:40] – The scale and acquisition of Pocket Risk.

[12:29] – The creation of Rapid Reply.

[15:05] – The impact of AI on business culture and productivity.

[16:59] – The most popular AI tools that provide immediate results.

[18:38] – Ways to connect with John and learn more about his work.

Key Takeaways

The wealth management industry is about helping people live the lives they want, not just about financial returns.

Trust and human connections are essential in the wealth management industry and cannot be replaced by technology.

AI can be used to improve productivity and efficiency in business workflows, such as email management and document summarization.

The future of AI lies in enterprise workflows and automating manual, repetitive tasks to make businesses more scalable.

Quotes
“Wealth management is about helping people live the lives they want, not just about financial returns.” ~ John Ndege
“Human connections are often a lot more powerful when it comes to getting things done and making progress on our planet than technology.” ~ John Ndege
“As AI becomes popular, the edge becomes more and more the human relationship. Your connection with your clients or niche will be even more important.” ~ John Ndege

Links 

John Ndege on LinkedIn

Pocket Risk

Tyrone Phillippi on LinkedIn

Orion Advisor Solutions

Pete Matthew

Rapid Reply

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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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.

Retirement is no longer considered an endpoint but rather a gateway to a new chapter brimming with purpose. Gone are the days when it was synonymous with endless leisure and idle relaxation. Today’s retirees and pre-retirees are embracing a paradigm shift where health, family, purpose, and finances are the cornerstones for a thriving retirement. In this episode, Jack Sharry talks with Lena Haas, General Partner and Head of Wealth Management Advice and Solutions at Edward Jones, and Ken Dychtwald, Founder and CEO of Age Wave. Lena is passionate about helping individuals make smart financial decisions that better their lives. She aims…

In this episode of Connected, we talk with Rich Walker, Founder and CEO of Quik!. Rich shares his inspiring career journey and the ups and downs that eventually led him to build Quik!. He talks about what real connection with clients is all about, and his mission to motivate and empower people to be the best versions of themselves. 
We also dive into technology, ​​the challenges of standardized data collection, and the importance of automation for financial advisors. In a fragmented industry where a mere 20% of transactions are automated, Rich provides a fresh perspective on how automation can help advisors focus on what is most important.
As a student of communication, Rich also provides insight into the key elements of great connections and how intentional practice can help advisors become better listeners, leading to better outcomes. 
Join us as we discuss:

[01:07] – Rich’s background and why great communication is the foundation of great connections. 

[10:21] – Rich’s career challenges in the financial industry and what led him to the idea for Quik!.

[18:30] – Why going fully digital is a challenge for many firms.

[24:26] – The importance of technology, data, and automation.

[32:15] – Rich’s passions and interests outside the financial industry.

Key Takeaways

Listen to your clients and truly understand their needs, fears, and goals. This not only results in better connections but also enables financial advisors to provide more personalized services.

Positivity and optimism can be powerful elements in achieving success. Mirror back to people their potential and inspire them to be their best selves.

Don’t underestimate the importance of technology. Data standardization can be a major hurdle for advisors. Look for ways to automate so you can focus on the most important tasks and relationships.

Constantly improve communication skills. Advisors should always be students of communication. Effective communication with clients builds trust and helps advisors understand their clients better.

Quotes
“I’m always going to be a student of communication because it’s a skill that we are constantly using throughout our life and we can always build upon.” – Rich Walker
“I believe everybody can do what they set their mind to. I want people to believe in themselves more and do their best. So, I’m always the cheerleader.” – Rich Walker
“There are three stages of listening. There’s listening for my turn to say what’s next. There’s listening to understand what you said. And then there’s connected listening, active listening, where I’m truly digesting what’s important to you.” – Rich Walker

Links 

Rich Walker on LinkedIn

Quik!

The 7 Habits of Highly Effective People by Stephen Covey

Aaron Klein

Arbor Day Foundation

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

Subscribe and stay in touch

Apple Podcasts

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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.

Pioneers in financial technology have reshaped the industry with their visionary ideas and relentless dedication. Among these legends of wealthtech, Len Reinhart, President of Reinhart Consulting Group, and Jim Seuffert, Former Chairman of the Board of Envestnet Institute on Campus, stand tall. They revolutionized fee-based investment management. Len and Jim embarked on a mission that changed how wealth management was perceived. In this episode, Jack talks with Len and Jim, who were co-founders of Lockwood Advisors. Lockwood was the first investment advisory firm to provide a turnkey investment consulting platform to independent broker-dealers, consultants, investment advisors, and financial planners. Len and…

Ever wonder how a seventh-grade love for architecture could inform a successful career in finance?
In today’s episode of Connected, we talk with Adam Holt, CEO of Asset-Map, about his passion for architecture and how it has influenced his approach to financial planning, as well as insights on connecting with people around shared values and common interests. We talk about the growth of Asset-Map, the highs and lows of building a financial services firm, as well as the world of analytics and the critical role of data aggregation for advisors. 
Adam also talks about REBL Dad and the challenge of balancing fatherhood and entrepreneurship.
Join us as we discuss:

[01:16] – Adam’s background and love for architecture.

[05:40] – How visualizing financial data can help build trust between financial advisors and their clients.

[13:16] – The challenges of running an RIA and the growth of Asset-Map.

[17:43] – The importance of equity and building a strong culture in a financial services firm.

[28:36] – Data aggregation and its role in making strategic decisions.

[37:59] – REBL Dads and growing a business with a family.

Key Takeaways

Translating complex financial data into visual representations can build trust with clients and facilitate meaningful financial decisions.

Having a common interest and aligned goals are important in building strong connections, whether it’s between advisors and clients or within a team.

A strong company culture and ensuring employees have a vested interest in the company’s success are key to building a successful firm.

The balance between family and career is delicate but crucial to finding success.

Quotes
“Some of the things that I’ve learned and adopted include the idea that everybody has to have equity. Every employee has equity in Asset-Map. They are an owner, they are part of it. Their job is to protect the baby at all costs. Why? Because they have an interest in its protection.” – Adam Holt
“The idea of visualization for everything that’s going on in your household without judgment is an important aspect. Just like an X-ray doesn’t have any feelings, right? They’re trying to diagnose your problem. And so we found that by actually creating this process where we could create your X-ray was a better way to really engage and connect in a place where there’s not a lot of natural connection currency.” – Adam Holt
“What does it take to build connections with people? It takes rapport, common interests, common values, and an alignment of where you want to go in a relationship.” – Adam Holt

Links 

Adam Holt on LinkedIn

Asset-Map

REBL Dads

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 power of building genuine relationships in wealth management is significant. But this kind of approach takes time, and many advisors already struggle with a lack of margin. How can advisors create the space to develop meaningful relationships while also delivering the best outcomes for their clients?
In this episode of Connected, we talk with Steve Zuschin, Chief Revenue Officer at Mammoth. Steve shares his insights on how advisors can better prioritize their time and build genuine relationships with their clients. By being more approachable and understanding the unique value they bring to the table, advisors can create a team-based mentality that leads to better outcomes across the board.
We also explore the trend of outsourcing executive roles and the benefits of fractional work for RIAs. Steve emphasizes the importance of integrating behavioral finance expertise and building long-term partnerships with service providers and technology platforms. Additionally, we discuss the challenges faced by advisors managing alternative investments for their clients, from scalability to technology to tax management. 
Steve also introduces us to Rally for Rangers, a nonprofit dedicated to empowering park rangers around the world to preserve our most special places. 
Join us as we discuss:

[01:28] – Steve’s background in the industry

[04:31] – Building genuine connections with clients

[11:28] – Outsourcing technology and leveraging a fractional org model

[23:20] – Challenges with scaling and alternative investments

[32:02] – Steve’s work with Rally for Rangers

Key Takeaways

Human connection is vital for delivering better financial advice, and technology can help facilitate that connection by making processes more efficient and scalable.

Prioritizing tasks and delegating work to the right team members can help financial advisors focus on building genuine relationships with their clients.

Fractional outsourcing, where advisors outsource executive roles, can be beneficial for RIAs and help them focus on acting in the best interest of clients.

Many advisors are increasingly managing alternative investments, which can be challenging due to scalability and integration issues. Mammoth aims to help advisors manage these investments more efficiently.

Quotes
“We want to start with being genuine about the value that we’re going to offer. It’s about having a real definition about the value you’re bringing to that relationship and a realistic view on what that value is.” – Steve Zuschin
“I think if we get technology out of the way, what really matters is us connecting with other humans.” – Steve Zuschin
“People want a differentiated investment experience. If they want straightforward ETFs and things like that and that’s what they’re aspiring to, they’re going to struggle to find value with you as an advisor.” – Jud Mackrill
“The single biggest point of differentiation is the advisor themselves and what they’re doing to work on themselves and what they’re doing to connect with their clients, to connect with the industry, to connect with their partners.” – Kyle Van Pelt

Links 

Steve Zuschin on LinkedIn

Mammoth

Steve’s LinkedIn post about having an unusual last name

LifeYield

Brian Portnoy

Daniel Crosby

Salesforce

Rally for Rangers

Acadia National Park

BMW R1100GS

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.

For high-earning millennials and Gen Z, financial success often comes hand in hand with a perplexing challenge — how to make the most of their income. With their eyes set on the future, they know that making smart choices can make their hard-earned money work for them. By harnessing the power of a tax-efficient investment system, this young and savvy generation can pave the way toward a future with financial security, opportunity, and the freedom to live life on their own terms. In this episode, Jack talks with David Hegarty, Founder & CEO of Playbook, the app for growing money with…

As the demand for private investments continues to rise, bridging the gap between technology and client servicing has become essential. However, the current state of technology in this industry remains fragmented, hindering the realization of a truly streamlined and efficient process. How can advisors break the barrier to unlocking opportunities in private investing?In this episode, Jack talks with Steve Zuschin, Chief Revenue Officer at Mammoth Technology. Steve has experience in sales leadership and business development with a demonstrated history of success in FinTech and financial services. He is skilled in executive leadership, team building, strategy, sales management, project management, and…

Conferences are a wonderful way to expand your network, explore industry trends, and enhance your skills. The most natural networking is hard to replicate over Zoom. It is the small talk in between speaker sessions, quick chats while refilling coffee, or conversations happening in the hallways. This week, Jack speaks with Chip Roame, Founder and Managing Partner of Tiburon Strategic Advisors, about the bi-annual Tiburon CEO Summit. This exclusive event allows executive-level clients to discuss a myriad of topics in the wealth and investment management world. In this episode, Chip talks to Jack about the evolution of target markets, offerings, distribution channels,…

Businesses are often focused on client retention, but employee retention is equally as important. In order to retain top talent, employers need to support employees’ financial needs and offer them holistic financial benefits, regardless of their stage of life or current career trajectory.  Brian McDonald, Head of Morgan Stanley at Work, is committed to bringing employees comprehensive solutions that give them financial security and confidence. His mission is also to help employers invest in and retain their top talent. Morgan Stanley has been a key player guiding businesses for over 85 years, but their customized solutions have recently reached the next…