The Rising Tide

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

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.

Technology has transformed the financial advisory industry in recent years.…