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Episode 060: Operations is the cornerstone of any organization, and technology is integral to successful business operations. Their integration revolutionizes any organization, and wealth management is no exception. By automating tasks, streamlining workflows, and connecting disparate systems, technology has become an indispensable tool for improving operational efficiency. This increased efficiency empowers advisors to focus more on what they do best: serving their clients, building lasting relationships, and providing personalized financial guidance.
In this episode, Kyle talks with Chrissy Lee, Chief Operating Officer of Merit Financial Advisors. Chrissy is responsible for the day-to-day operations of the firm, working within the executive leadership team and each department within the organization to create efficiencies and streamline the client service experience. She is also responsible for operational strategy, driving strategic growth through mergers and acquisitions, and overseeing onboarding processes, business development, and technology implementations to create a best-in-class experience for the Merit community.
Kyle talks with Chrissy about the importance of operational efficiency in wealth and asset management. She discusses the challenges of integrating technology, the significance of human relationships in wealth management, and how technology should enhance, rather than replace, these relationships.
In this episode:

[02:32] – Chrissy’s money moment

[06:15] – What it takes to be a great operator

[10:16] – What Merit Connect is all about

[13:03] – Chrissy’s thoughts on building a client portal

[15:16] – What makes Merit Financial the right partner for firms

[19:55] – Areas of operation with technology challenges

[23:26] – The challenge of connecting advisor-facing and operations-facing technology

[25:36] – Chrissy’s thoughts about the future of the industry

[30:32] – Chrissy’s Milemarker Minute

Key Takeaways

Operations and technology go hand in hand. Operations is at the heart of any organization. And technology is an integral component of successful operations.

Integrating operations with advanced technology can streamline processes and enhance client interactions.

Operational efficiency, meticulous planning, and client-focused strategies are crucial for consolidation and acquisition firms.

Technology automates and streamlines processes, allowing advisors to focus on serving their clients.  

Quotes
[15:27] – “One of the things that really takes away from advisors is productivity. Why not allow advisors to stay in their “hot zone,” which is to serve their clients and have that relationship with the clients?” ~ Chrissy Lee
[20:11] – “Operations and technology go hand in hand. Operations is at the heart of an organization because you have the relationships. And if we don’t have the right technology or if it’s limited, it is difficult because it becomes a manual process.” ~ Chrissy Lee
[27:46] – “People are not numbers. You can only send so much data and analysis to someone, you know? They want someone who cares, who is listening, and who is hearing their story.” ~ Chrissy Lee

Links 

Chrissy Lee on LinkedIn

Merit Financial Advisors

Farmers Insurance

Merit Connect

The Map

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Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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Episode 48: In this episode of The Connected Advisor, Kyle Van Pelt brings together some of the best clips discussing the role of technology in the growth of RIAs. Featuring James Bogart, Sammy Azzouz, Melissa Bouchillon, and Justin Steitz, this episode dives into how technology aids in organic growth, client onboarding, building a tech stack around client needs, and managing with limited resources. Learn how these industry leaders leverage technology to provide value and stay competitive in the wealth management space. 
In this episode:

[01:47] – James Bogart on the impact of digitization on lead flow and client referrals.

[06:11] – Sammy Azzouz on the tech stack that supports advisors and helps them grow.

[09:54] – Melissa Bouchillon on the role of technology in building Sound View Wealth Advisors.

[13:44] – Justin Steitz on why credit unions are lagging behind in digital adoption.

Links 

James Bogart on LinkedIn

Bogart Wealth

Sammy Azzouz on LinkedIn

Heritage Financial Services

Melissa Bouchillon on LinkedIn

Sound View Wealth Advisors

Justin Steitz on LinkedIn

Copper Financial

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Kyle on LinkedIn

Jud on LinkedIn

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The intersection of market dynamics and technological advancements has not only heightened the value of annuities but also revolutionized how…

Episode 015: One of the biggest challenges in managing a wealth management firm is integrating various systems and platforms to create a seamless workflow. This challenge can often feel like trying to piece together a complex puzzle where every component must fit perfectly to maintain a technological edge in the industry. In such a rapidly evolving field, providing a comprehensive infrastructure for advisors is essential, as it allows them to concentrate their efforts on what truly matters: exceptional client service and sustainable growth.
In this episode of Connected, Kyle talks with Kyle Wesley, Chief Digital Officer at Bleakley Financial Group. They discuss the challenges of managing a firm, the importance of integration in the technology stack, and the future of the industry. Kyle also shares insights on how Bleakley supports its advisors and leverages technology to provide a seamless experience. He highlights the role of technology and artificial intelligence in driving growth and efficiency.

Join us as we discuss:
[02:10] – Being a Penn State Nittany Lion fan.
[03:38] – The role of a chief digital officer in an RIA.
[05:49] – How to stay on top of technology changes in the industry.
[07:03] – Bleakley’s predefined technology stack.
[08:30] – Bleakley’s criteria for integrating its core systems.
[10:23] – Advisors’ support system at Bleakley.
[14:46] – The challenges of managing a platform.
[17:38] – What it takes to implement technology in a platform.
[21:58] – The challenge of integrating multiple platforms.
[26:09] – The use of Power BI for data analysis.
[30:11] – Kyle’s thoughts on the future of the financial advisory industry.
[35:23] – Kyle’s favorite thing to do outside of work.

Key Takeaways

Providing a comprehensive infrastructure for advisors allows them to focus on client service and growth.

Integration is a key challenge in managing a technology stack, and Bleakley prioritizes seamless integration between platforms.

The future of the industry lies in a centralized data warehouse and a user interface that brings together all the necessary tools and information.

AI has the potential to revolutionize the industry by automating processes and providing personalized insights for advisors.

Quotes
“In everything we do, we pilot with a small user group. We get more feedback before we roll it out slowly to a broader group until it is fully rolled out to all advisors and staff.” ~ Kyle Wesley
“The challenging part of any integration is if you have different platforms, it’s never going to be completely seamless. So that’s definitely the challenge because you have to teach everyone where you need to go for which thing, and it’s not going to be one spot.” ~ Kyle Wesley
“Cybersecurity, in general, is probably the biggest threat to our business. But if you’re able to normalize the data because you have it from so many sources, that’s where AI becomes more meaningful.” ~ Kyle Wesley

Links 

Kyle Wesley on LinkedIn

Bleakley Financial Group

Michael Kitces

Orion Advisor Solutions

Salesforce

Practifi

Ignite CRM Solutions

eMoney Advisor

LPL Financial

Pontera

DocuSign

Power BI

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.

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

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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.

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