The WealthStack Podcast

When the pandemic hit in March 2020, the financial advice industry essentially became virtual overnight. Advisors and the companies that support them embraced technology like never before and now, roughly 18 months later, the business of advice has experienced it’s most significant period of change ever. 

Where does the advice industry go from here? In this inaugural episode of the WealthStack podcast, Wealth Management’s Mark Bruno addresses the big picture with Joe Duran, managing director of Goldman Sachs Personal Financial Management. Joe dives into how modern technology and current worldwide events have changed the way that advisors work, from adapting client meetings to engaging virtually with potential clients and prospects.

Specifically, Joe and Mark dive into:

- What have been some of the most significant changes in the advisor-client relationship since March 2020? How will that re-shape the future of advice?
- What technologies, tools and resources allowed some advisors to thrive over the last 18 months?
- From an industry perspective, how has the landscape of wealth management providers changed the most? 
- What types of firms, services and experiences will “win” going forward?

Connect with Joe Duran:

Joe Duran
Goldman Sachs
Goldman Sachs Personal Financial Management

Connect with Mark Bruno:

Mark Bruno
WealthManagement.com

About our guest:

Joe is co-head of Personal Financial Management Group, which includes Ayco and Personal Financial Management (PFM). He is a member of the Consumer and Wealth Management Inclusion and Diversity Council and Steering Committee.

Joe joined Goldman Sachs as a partner in 2019 as part of Goldman Sachs’ acquisition of United Capital, which was subsequently renamed Personal Financial Management.

Joe founded United Capital in 2005. Before that, he served as president of GE Private Asset Management, which he built and sold to GE as president of Centurion Capital in 2001.

Joe has written three books, including The Money Code, which was listed on The New York Times and USA Today’s bestseller lists.

Joe earned a BS in Business Administration from Saint Louis University and MBA degrees from Columbia University and the University of California, Berkeley. He is a CFA charterholder.

1. The Evolution of Advice: Joe Duran on the Accelerating Pace of Change in Wealth Management

2. Dani Fava: Why Embedded Finance is a Game-Changer for Financial Advice

Financial advisors often have an impact on the lives of their clients that extends well beyond investment performance. An ability to help clients navigate complex life and financial decisions - which are frequently intertwined - is at the core of any successful advisor’s long-term relationships. 

But how can you ensure that clients understand the true value of the services that you deliver - and ultimately the unique problems that only you can solve for them?

In this episode of the WealthStack podcast, Mark Bruno and Jamie Hopkins Esq., LLM, CFP®, ChFC®, CLU®, RICP®, managing partner of Wealth Solutions at Carson Wealth, reveal how to articulate your unique advisor “alpha”. They dive into different ways to communicate your value with prospects and demonstrate what makes you different from other advisors. Jamie discusses how advisors are adapting to create experiences for clients, while also focusing on:

- The most effective ways to communicate your value proposition
- The role of technology as a differentiator for advisors
- The difference between service and relationship for advisors and clients
- The services, outcomes or solutions that have the most value for investors
- How behavioral finance impacts clients’ advisor selection

Connect with Jamie Hopkins:
LinkedIn: Jamie Hopkins
Carson Wealth

Connect with Mark Bruno:
LinkedIn: Mark Bruno
WealthManagement.com

About our guest:
Jamie P. Hopkins, ESQ., MBA, CFP®, LLM, CLU®, ChFC®, RICP® is the Managing Partner of Wealth Solutions. He is a Finance Professor of Practice at Creighton University’s Heider College of Business.

A nationally recognized writer and researcher, Jamie is a regular contributor to Forbes, InvestmentNews and MarketWatch. A highly sought-after speaker in the financial services industry, Jamie has also been featured on Wall Street Journal podcasts, NPR radio and Fox radio, and has made multiple appearances for NBC10 Philadelphia, PBS and USA Today.
He’s been published in dozens of financial, educational and legal journals and developed educational materials for The American College’s CFP®, CLU®, ChFC® and RICP® programs, along with CE programs for attorneys.

Additionally, Jamie has co-authored three text books and has two ebooks on Retirement Planning, “Retirement Success In 10 Steps: How To Stretch Your Dollar To Last Through Your Golden Years'' and “Retirement Risks: How To Plan Around Uncertainty For A Successful Retirement.” He is also the author of 2018’s “Rewirement: Rewiring The Way You Think About Retirement.”

3. The Value of Advice: Articulating and Demonstrating Your True “Alpha”  with Jamie Hopkins

As technology for the wealth management industry evolves, financial advisors will have more options than ever before to enhance the services - and value - they deliver to clients. 

Understanding and navigating the readily changing WealthTech landscape can be a challenge for many, however. In this episode of the WealthStack podcast, Carina Diamond, the Chief Experience Officer at Dakota Wealth Management, shares her experience and perspective on how successful advisory firms are using technology to customize financial plans, improve and deepen relationships with clients -- and ultimately run a more productive and profitable business. 

Carina and Mark Bruno, the Managing Director of Wealth Management at Informa, specifically focus on:

- The role of technology in changing and improving client experiences 
- How virtual platforms can help to facilitate stronger advisor/client relationships
- Continued opportunities for advisors to leverage and invest in new technology
- The primary contributors to Dakota’s growth in 2021
- Insights into the acquisitions announced at Dakota earlier in 2021

Connect with Carina Diamond:
Carina Diamond
Dakota Wealth Management

Connect with Mark Bruno:
Mark Bruno
WealthManagement.com

About our guest:
As Chief Experience Officer, Carina is responsible for providing leadership and mentoring to the other client advisors at Dakota Wealth, as well as directing marketing efforts for the firm. Before joining Dakota Wealth Management, Carina Diamond was founder and CEO of Springside Partners LLC.

Dakota’s Carina Diamond: WealthTech’s Impact on the Future of Advice

Innovation and adoption of technology are rapidly redefining the way financial advisors work with clients - and are revolutionizing the wealth management industry. 

One of the most experienced and knowledgeable voices in the wealth management and WealthTech industries -- Lori Hardwick, CEO of Red Rock Strategic Partner -- stopped by the WealthStack podcast to highlight the developments in FinTech that all advisors need to know. 

Ms. Hardwick talks with Mark Bruno, the Managing Director of Wealth Management at Informa, about her key learnings sitting on the boards for major players in WealthTech, such as Orion, Cetera, and Vestwell. In addition, they discuss:

- How emerging technology is improving every interaction advisors can have with clients
- How technology is accelerating change in retirement plans
- How financial planning, risk management, and asset management are converging to create a truly holistic and customizable wealth management experience. 

Connect with Lori Hardwick:

Lori Hardwick
Red Rock Strategic Partners

Connect with Mark Bruno:

Mark Bruno
WealthManagement.com

About our guest:

Lori Hardwick brings more than 25 years of experience of working in the financial industry as a prominent voice and is known for her intense passion for continuous improvement in the financial advisory industry.  
 
As CEO of WealthTech at RedRock Strategic Partners LLC and as a Strategic Advisory Board member of Genstar Capital, Lori works directly with C-suite level executives at some of the largest financial services companies, to help them create, and execute against, winning growth strategies and to improve the overall experiences for advisors and their clients.  
 
Lori has been appointed to, and currently serves on, several corporate boards in the financial services and fintech industries including Orion Advisor Technologies, Cetera Financial Group, as Vestwell for which she serves a s Chairman. Lori previously served as Chairman of the Board at Riskalyze through mid-2021. 
 
In 2017, Lori created and co-founded, Advisor Innovation Labs (AI Labs) which underwent a successful transaction in early 2020. Prior to founding AI Labs, Lori served as Chief Operating Officer for Pershing, a BNY Mellon company, sharing leadership responsibility with the CEO for managing the Pershing family of companies. Lori served as a member of Pershing’s Executive Committee and BNY Mellon’s Senior Leadership Team.
 
Previously and for the majority of Lori’s career, she was a Co-Founder and Group President of Advisory Services for Envestnet, overseeing its enterprise relationship management, institutional advisory sales, strategic partnerships and practice management programs. She had been with Envestnet since its founding in 2000 and served in a variety of roles managing its enterprise, sales, services, advisor orientation and onboarding divisions during her 16-year tenure at the firm.
 
Lori has been recognized as one of the “22 People who will Transform Wealth Management in 2022” by Financial Planning Magazine, and as one of Top Women of Wealth Tech by ThinkAdvisor, a “Winner in Wealthtech” by Wealth Management Today, a “Woman to Watch” by InvestmentNews and on Investment Advisor’s list of “The 25 Most Influential People in the Financial Industry”.

Lori Hardwick: How Technology is Revolutionizing the Wealth Management Industry

Are investors outpacing advisors in their understanding of crypto and digital assets? 16% of advisors say they recommend bitcoin and other digital assets, yet 24% of American adults own crypto. It’s important for financial advisors to overcome this gap as the number of digital assets in the market continues to grow and the asset class increases in popularity.

Mark Bruno, Managing Director of Wealth Management at Informa, is joined by Ric Edelman, Founder, Digital Asset Council of Professionals and the Funding Our Future Coalition, to discuss the growth of cryptocurrency and the “professionalization” of digital assets. 

Listen in as Ric and Marc explore:

- How to educate financial advisors and broaden the knowledge base when it concerns digital assets.
- As innovations in digital assets continue what does it mean for the first adopters of this technology by hedge funds, billionaires, endowments, pension funds, insurance companies.
- How the government is reacting to the rise of digital currency and how much truth are there in the predictions that by the end of the decade every government around the world will have a digital currency.

To what degree is the lack of knowledge in digital assets a result of a lack of technology, lack of regulation, or lack of infrastructure.
The ideal allocation for your client's portfolio as these digital assets grow.

Connect with Mark Bruno:
Mark Bruno
WealthManagement.com

Connect with Ric Edelman:
Ric Edelman
The Truth About Crypto

About Our Guest:
Ric Edelman is a #1 New York Times bestselling author of 10 books on personal finance. He was ranked three times as the nation’s #1 Independent Financial Advisor by Barron’s and founded the nation’s largest financial planning firm, now serving 1.3 million clients and managing $300 billion in AUM. Edelman is in both Research Magazine’s and Barron’s Financial Advisor Halls of Fame, and recipient of IARFC’s Lifetime Achievement Award. Investment Advisor, RIABiz and InvestmentNews all named him one of the most influential people in the investment management profession. He is the #1 New York Times best-selling author of 10 books on personal finance with more than one million copies in print in seven languages.

Ric Edelman on Advisors’ “Crypto Knowledge Gap”

Cryptocurrency is a hot topic with many investors - yet, financial advisors are still in the early stages of learning and navigating the evolving world of crypto and digital assets. 

Mark Bruno, Managing Director of Wealth Management at Informa, is joined on the WealthStack Podcast by Ben Cruikshank, Head of Flourish, in discussing the growing role of cryptocurrency within financial and retirement planning. They specifically focus on:

- Where are we now in the professionalization of cryptocurrency
- What role crypto could - and should - play in client portfolios
- What options are available for financial advisors to consider
- How current events are markets are creating new opportunities with Crypto and cash management

Connect with Mark Bruno:

WealthManagement.com
LinkedIn: Mark Bruno
Twitter: Mark Bruno
LinkedIn: Informa

Connect with Ben Cruikshank:

LinkedIn: Ben Cruikshank
Flourish

About Our Guest:

Ben Cruikshank is the Head of Flourish and leads the Client Strategies organization, including sales, marketing and support. Ben is a frequent commentator on issues related to investment advisors and crypto and has appeared in the Wall Street Journal, Barron's, Marketwatch, and numerous industry publications. Prior to Flourish, Ben worked at Betterment, where he was a founding member of the Betterment for Business team and led the 401(k) sales team.

The WealthStack Podcast: Ben Cruikshank on the Professionalization of Crypto

As more individuals enter and approach retirement, the role of a financial advisor is changing rapidly. An increasing number of clients need their advisors to act as “personal risk managers” and focus on downside protection and stability, vs. growth and outperformance. 

To learn more about this evolution, Mark Bruno, Managing Director of Wealth Management at Informa, is joined by Rick Bookstaber, Co-Founder and Head of Risk at Fabric, and Dr. Ashby Monk, Executive and Research Director at Stanford University, to discuss the importance of understanding risk and the advisor's role as risk manager for clients. 

Listen in as Mark, Rick and Dr. Ashby discuss:

- The most prominent market, economic and planning risks in today’s environment
- What financial advisors can learn from institutional investors about risk management
- How advisors should balance long-term risks with short-term risks 
- How risk management technology has evolved – specifically, the risk management tools and resources available to financial advisors.

Connect with Mark Bruno:

Mark Bruno
WealthManagement.com

Connect with Rick Bookstaber:

LinkedIn: Rick Bookstaber
Fabric
Rick Bookstaber

Connect with Dr. Ashby Monk:

LinkedIn: Dr. Ashby Monk
Stanford University

About Our Guests:

Rick Bookstaber has worked in risk management with chief risk officer roles on both the buy-side at Moore Capital and Bridgewater, and on the sell-side at Morgan Stanley and Salomon. From 2009 to 2015 he served in the public sector at the SEC and the U.S. Treasury, drafting the Volcker Rule, building out the risk management structure for the Financial Stability Oversight Council, and developing an agent-based model to assess financial vulnerabilities.

Dr. Ashby Monk is the Executive and Research Director of the Stanford Global Projects Center. He is also a Senior Research Associate at the University of Oxford and a Senior Advisor to the Chief Investment Officer of the University of California. Dr. Monk has a strong track record of academic and industry publications. His research and writing have been featured in The Economist, New York Times, Wall Street Journal, Financial Times, Institutional Investor, Reuters, Forbes, and on National Public Radio among a variety of other media.

Rick Bookstaber and Dr. Ashby Monk: The Evolution of Financial Advisors as Risk Managers

Technology innovations continue to shake up the wealth management industry. More than ever, advisors need to be aware of the solutions and tools available, and how they’re ultimately impacting the financial planning space.

In this episode, Shannon Rosic, Director of WealthStack Content and Solutions, is joined by Davis Janowski, Senior Technology Editor at WealthManagement.com.  Shannon and Davis explore how emerging wealthtech players are changing the future of financial planning. They focus on some of the latest innovations and how advisors are incorporating them into their practice.

Shannon and Davis discuss:
- Technology’s role as a driving force for success in the wealth management industry
- Where are the biggest opportunities for financial advisors to grow
- What interesting firms and wealthtech concepts that financial advisors should be paying attention to in 2023 and beyond
- How are new practice management and “advice engagement” platforms being integrated by advisors
- New advisor rating and review tech thanks to the SEC ad rule change

Connect with Shannon Rosic:
LinkedIn: https://www.linkedin.com/in/shannonrosic/
WealthStack website: https://informaconnect.com/wealthstack/ 
WealthManagement.com: https://www.wealthmanagement.com

Connect with Davis Janowski:
LinkedIn: https://www.linkedin.com/in/davisjanowski/


About Our Guest:

Davis Janowski is a career journalist who has done stints with FinTech startups and as an analyst. Along the way, his work has appeared in the New York Times and many other publications. While much of his focus has been in the FinTech sector for the last 13 years, Davis also has extensive experience in evaluating technology and tech products. His career in tech journalism began at PC Magazine, where he tested and reviewed consumer and business products and managed a team of editors, technicians, and analysts. Davis also spent six years covering FinTech for InvestmentNews, where he was a technology reporter and columnist and also spoke frequently at industry conferences. Outside his daily work he volunteers with several groups that have a strong environmental and sustainability focus and, on occasion, writes about them too.

The WealthStack Podcast:   2023 WealthTech Outlook with Davis Janowski

The WealthStack Podcast: How To Engage the Unengaged With Santiago Burridge

RIAs need to find ways to continue to be profitable and scale, even when the markets aren’t offering much growth. While technology has advanced in leaps and bounds, with new products and services being introduced every year, advisors still need to utilize the right technology to improve workflows within their business.

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Ryan George, chief marketing officer of Docupace, on what to look for when introducing new technology to a business to fill gaps in productivity.

Shannon and Ryan discuss:
- Why now was the right time for Docupace to enter the RIA market
- What the word ‘scale’ means within the RIA marketplace, and how is technology helping
- Which technology will be most impactful for financial advisors this year and beyond
- Eight questions to ask when looking for new technology to incorporate into your business

Connect with Shannon Rosic:
LinkedIn: https://www.linkedin.com/in/shannonrosic/
WealthStack website: https://informaconnect.com/wealthstack/ 
WealthManagement.com: https://www.wealthmanagement.com

Connect with Guest:
LinkedIn: Ryan George: https://www.linkedin.com/in/rageorge/ 
Docupace: https://www.docupace.com/

About Our Guest:

Ryan George is the Chief Marketing Officer at Docupace, a solutions provider focused on digitizing and automating operations in the financial advice and investment industry. He serves as the company’s “chief diplomat” evangelizing the company’s people, solutions and brand across the financial services/ wealth management industry. As a member of the senior executive committee Ryan collaborates with key stakeholders across Docupace to support the company’s growth, retention and profitability objectives.

The WealthStack Podcast: Is it the Year of Advisor  Productivity?

Would you rather walk through 37,000 different financial scenarios with your clients or review a one page sheet simplifying the financial plan? Not to mention having the ability to showcase what really matters to your clients. 

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, is joined by Carl Richards, chief brand officer of Elements, in discussing how the company provides advisors a way to capture vital client data quickly and easily, and ultimately present a holistic picture of their financial life in a tangible and understandable way. 

Shannon and Carl discuss:

- How Elements is modernizing the traditional financial planning model
- What is the goal of the one-page-plan (OPP) and how they benefit advisors and their clients
- Why they’re focused on building a client centric mobile app and overall engaging experience
- What makes Elements 'nudge' capabilities different from any of the other CRM providers and other planning providers

Connect with Shannon Rosic:

- Shannon Rosic
- WealthStack website
- WealthManagement.com

Connect with Carl Richards:

- Carl Richards
- Elements

About Our Guest:

Carl Richards is a Certified Financial Planner and creator of the Sketch Guy column, appearing weekly in The New York Times since 2010.

Carl has also been featured on Marketplace Money, Oprah.com, and Forbes.com. In addition, Carl has become a frequent keynote speaker at financial planning conferences and visual learning events around the world.

Through his simple sketches, Carl makes complex financial concepts easy to understand. His sketches also serve as the foundation for his two books, The One-Page Financial Plan: A Simple Way to Be Smart About Your Money and The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money (Portfolio/Penguin).

His sketches have appeared in a solo show at the Kimball Art Center in Park City, Utah as well as other showings at Parsons School of Design in New York City, The Schulz Museum in Santa Rosa, California, and an exhibit at the Mansion House in London.

Making the Complex Simple - Facilitating Meaningful Financial Planning Conversations

Bento Engine said it best: Even the best advice, delivered at the wrong time, can fall flat. Financial advice delivered too early – or worse, too late – can have the opposite effect of its intention. In order to truly help their clients, and therefore improve engagement, loyalty and retention, advisors need to offer advice when it actually matters.

In this episode, Shannon Rosic, Director of WealthStack Content and Solutions, speaks with Philipp Hecker, co-founder and CEO of Bento Engine, on how they’re helping advisors connect with their clients on a deeper level by combining powerful SaaS technology with impactful content and timing expertise.

Shannon and Philipp discuss:
- The power of holistic advice 
- How Bento Engine is encouraging all family members to participate in the financial planning process
- How the timing of advice encourages action towards financial goals
- How advisors can help fill the gaps in client financial literacy
- Why updating technology is as essential as staying up to date on financial news

Connect with Shannon Rosic:
LinkedIn: https://www.linkedin.com/in/shannonrosic/
WealthStack website: https://informaconnect.com/wealthstack/ 
WealthManagement.com: https://www.wealthmanagement.com

Connect with Guest:
LinkedIn: Philipp Hecker: https://www.linkedin.com/in/philipphecker/ 
Bento Engine: https://www.bentoengine.com/ 

About Our Guest:

Global business strategist (J.P. Morgan, DB, BCG), passionate about advice beyond investing.
Previously Head of Wealth Planning & Advice, and Global Head of Strategy at J.P. Morgan Wealth Management Focused on tech-driven advisor-enablement for the benefit of clients, their families, and their communities

The WealthStack Podcast: Why the Timing of Financial Advice Matters

The ultimate objective to create an end-to-end, holistic wealth management experience seems simple in theory, but it continues to be difficult for the wealth management industry to execute on. Fortunately, BetaNXT is hyper-focused on solving customers' most demanding integration challenges with flexible, efficient, connected solutions that anticipate their changing needs.

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Stephen Daffron, CEO of BetaNXT, on creating a “frictionless” wealth management experience and what it means for advisors, financial services and wealthtech firms that serve them.

Shannon and Stephen discuss:
- Why BetaNXT is championing the next wave in wealth management technology and outsourcing solutions
- The importance of advisors utilizing real-time data
- Why BetaNXT is focused on solving customers most demanding integration challenges
- What the acquisition of Mediant Communication means for BetaNXT

Connect with Shannon Rosic:
LinkedIn: https://www.linkedin.com/in/shannonrosic/
WealthStack website: https://informaconnect.com/wealthstack/ 
WealthManagement.com: https://www.wealthmanagement.com

Connect with Guest:
LinkedIn: Stephen Daffron: https://www.linkedin.com/in/stephen-c-daffron-67448a106/ 
BetaNXT: https://betanxt.com/

About Our Guest:

Stephen is a Co-Founder and Industry Partner at Motive Partners since 2016, a specialist private equity firm focused on financial technology businesses and currently serves as Chairman and Chief Executive Officer of BetaNXT, a Motive Partners portfolio company and an industry-leading provider of wealth management technology and outsourcing solutions. Dr. Daffron also recently served as the President of Dun & Bradstreet, a position he held from 2019 to 2021, also a Motive Partners portfolio company. Dr. Daffron has served on the Board of Motive Capital Corp II since 2021. Prior to joining Motive Partners, Dr. Daffron served from 2013 to 2015 as the Chief Executive Officer of Interactive Data. Prior to Interactive Data, Dr. Daffron was the Global Head of Technology, Operations, and Data at Morgan Stanley from 2008 to 2013. Before returning to the sell-side, Dr. Daffron was Chief Operating Officer at Renaissance Technologies. Prior to this, Dr. Daffron worked for Goldman Sachs from 1993 to 2003, initiated the re-engineering of operations and technology functions across payments, derivative processing, credit risk/collateral control, and investment management. Dr. Daffron earned a B.S. from the United States Military Academy, and an MBA, MA, M.Ph. and Ph.D. from Yale.

Creating a Frictionless Wealth Management Experience with Stephen Daffron of BetaNXT

What’s in a name? Acting as a “bridge” to better retirement, Pontera enables retirement savers to get help managing their 401(k) from their trusted advisor. 
In this episode, Shannon Rosic, Director of WealthStack Content and Solutions, is joined by Nicole Zheng, CMO of Pontera, to talk about how their secure and seamless platform allows advisors to monitor and trade 401(k), 403(b), and other held away accounts to ensure they are meeting their clients’ needs.

Shannon and Nicole discuss:

- Why it’s important for clients to have the option to have their 401(k) managed by a trusted advisor as part of their comprehensive financial plan
- What demographics are receptive to 401(k) management
- How advisors should approach the concept of holistic advice, especially surrounding retirement planning
- Who Pontera integrates with and where will they expand in the future

Connect with Shannon Rosic:
LinkedIn: https://www.linkedin.com/in/shannonrosic/
WealthStack website: https://informaconnect.com/wealthstack/ 
WealthManagement.com: https://www.wealthmanagement.com

Connect with Guest:
LinkedIn: Nicole Zheng: https://www.linkedin.com/in/nicoleisonline/ 
Pontera: https://pontera.com/

About Our Guest:

Nicole Zheng has been a startup founder and marketing executive in smart home, heath tech, unified communications, internet infrastructure, and now fintech. She is passionate about cultivating inclusive company cultures, advancing women in tech, and designing effective go-to-market strategies.

How Does 401(k) And Held Away Account Management Fit Into Holistic Advice?

Many firms are sitting on a plethora of data, but have struggled to unlock the true value of it all. Integration enables (often disparate) systems to communicate with each other, and data integration is key to delivering high-quality client and advisor experiences. By centralizing all of the data, firms can gain a holistic view and understanding of their clients and portfolios, which ultimately leads to happier clients. 

In this episode, Shannon Rosic, Director of WealthStack Content and Solutions, speaks with Kyle Van Pelt, CEO of Milemarker, s how advisors can avoid technological mistakes and create a seamless experience.

Shannon and Kyle discuss:
What challenges surround technology integration and how Milemarker provides integration as a serviceWhere tech is adding value to an advisor’s practice
How advisors can avoid becoming “accidental CTOs”
Three things early-stage data companies must get right when building a scalable business

The WealthStack Podcast: Solving Integration Challenges is Now a Reality

Over the last year, the wealth management industry has faced extraordinary market conditions and macro-economic challenges, causing many firms to reconsider their operational strategies. New technology options and investment opportunities are all disrupting the status quo, so it’s critical to pay attention to the subtle yet dramatic changes happening in the independent wealth space that will shape the industry going forward. 

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Tim Welsh, President of Nexus Strategy, on the five trends that will shape wealth management in 2023 and beyond.

Shannon and Tim discuss:
- How technology acts as a deflationary force in an inflationary economy
- The role of AI in financial planning and investment management processes
- Why marketing automation and technology integration will be significant drivers of change
- Why wealth managers are investing in private equity, and why private equity firms are investing in wealth managers

Connect with Shannon Rosic:
LinkedIn: https://www.linkedin.com/in/shannonrosic/
WealthStack website: https://informaconnect.com/wealthstack/ 
WealthManagement.com: https://www.wealthmanagement.com

Connect with Guest:
LinkedIn: Tim Welsh: https://www.linkedin.com/in/tim-welsh-cfp-202a934/ 
Nexus Strategy: https://www.nexus-strategy.com/

About Our Guest:

Timothy D. Welsh, CFP® is President, CEO and founder of Nexus Strategy, LLC, a leading consulting firm to the wealth management industry.

Prior to founding Nexus Strategy, Tim was Director of Business Consulting Services for Schwab Advisor Services where he led the development and marketing of practice management resources for independent advisors. While at Schwab, Tim also held senior roles in Strategy, Marketing, Advertising, PR and Industry Content development.

Prior to joining Schwab, Tim was vice president at Merrill Lynch where he was responsible for marketing, product development and financial advisor training for the financial planning group.  Tim is frequently quoted in the wealth management media on a wide range of business management and industry topics.  He is the author of a number of industry white papers, a guest columnist for RIABiz, Investment News and wealthmanagement.com, and is a frequent speaker at industry conferences and events.  Tim earned a bachelor's degree in Economics from the University of California, Berkeley and an MBA in Finance from the University of Colorado.

Tim holds the Certified Financial Planner, CFP® designation and is an active member of the Financial Planning Association (FPA), serving in a leadership role on a number of task forces, committees and as a past elected member of the National Board of Directors.

The WealthStack Podcast: 5 Trends Shaping Wealth Management in 2023 With Tim Welsh

Summary

Financial advisors have a plethora of options when it comes to building their tech stack. But, how can they ultimately leverage new technology to deliver a meaningful client experience?

In this episode, Shannon Rosic, Director of WealthStack Content and Solutions, speaks with Jason Pereira, an award-winning financial planner, entrepreneur, and fintech expert, on how every part of the client experience and business management can be enhanced and made more efficient through digitization and automation. 

Shannon and Jason discuss:
- How advisors can demonstrate value to clients through technology 
- What it means to digitize your practice from end-to-end
- How technology is following the market to meet the needs of clients
- Why niche marketing could be the key to helping drive growth rates

Connect with Shannon Rosic:
LinkedIn: https://www.linkedin.com/in/shannonrosic/
WealthStack website: https://informaconnect.com/wealthstack/ 
WealthManagement.com: https://www.wealthmanagement.com

Connect with Guest:
LinkedIn: Jason Pereira
jasonpereira.com (Blog)
woodgate.com (Company)

About Our Guest:

JASON PEREIRA, R.F.P.  is a Financial Planner, Entrepreneur, Writer, Broadcaster, Podcaster and Professor.  He is Partner Senior Financial Consultant at Woodgate Financial Partners as well as a Part-time Professor at the Schulich School of Business.

Jason is the Founder of two technology start-ups and Host of the Fintech Impact podcast.

He holds 2 degrees and 7 designations, is a three-time winner of the Global Financial Planning Award and finalist/winner of 28 other industry awards.

The WealthStack Podcast: Digitizing Your Practice End-To-End with Jason Pereira

The SEC’s new marketing rule resulted in sweeping changes to how firms can market themselves and interact with investors. Fortunately, modernization of archaic regulations has seen digital platforms take the lead to meet compliance demands.

In this episode, Shannon Rosic, director of WealthStack content and solutions, speaks with Brian Thorp, Founder and CEO of Wealthtender, aka, the “Yelp” for financial advisors.  

Shannon and Brian discuss:

- What the latest SEC marketing rule means for advisors 
- How advisors can leverage online reviews to grow their practice
- Why online reviews can have a significant impact on SEO
- How Wealthtender’s Certified Advisor Reviews™ are designed to comply with the new SEC rule

About Our Guest:

Brian Thorp is the CEO and founder of Wealthtender. He and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Shannon Rosic:
LinkedIn: https://www.linkedin.com/in/shannonrosic/
WealthStack website: https://informaconnect.com/wealthstack/ 
WealthManagement.com: https://www.wealthmanagement.com

Connect with Guest:
LinkedIn: Brian Thorpe
Website: https://wealthtender.com/

How Advisors Can Leverage Online Reviews (and be Compliant) with Brian Thorp of WealthTender

To help practices monitor, measure, protect and grow their business, FP Transitions provides a valuation driven by customized benchmarks against 50 to 60 key performance indicators. The end result is enabling wealth managers to achieve their goals for mergers and acquisitions, enterprise development, valuation, and growth. 

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Scott Leak, Director of Business Development at FP Transitions, on how to distill all the data they provide and to make it actionable at the firm level.

Shannon and Scott discuss:
- What kind of data should advisors be looking at especially when it comes to major decisions or transitions
- The importance of advanced planning
- Examples of advisors who have taken action with their data and the end results
-How FP Transitions takes a different approach to benchmarking

Connect with Shannon Rosic:
LinkedIn: https://www.linkedin.com/in/shannonrosic/
WealthStack website: https://informaconnect.com/wealthstack/ 
WealthManagement.com: https://www.wealthmanagement.com

Connect with Guest:
LinkedIn: Scott Leak: https://www.linkedin.com/in/scottleak/ 
FP Transitions: https://www.fptransitions.com/

About Our Guest:

Scott started at TD Ameritrade just before the turn of the century and spent the last decade helping them build their Advisor Services division. He was one of the first employees dedicated to launch that effort, and he helped them scale all the way up. In fact, Scott was so dedicated to serving advisors to the best of his ability that he earned his CFP® designation in 2010, helping him gain a deeper understanding the unique challenges advisors face.

While at TD Ameritrade, Scott wore a variety of hats. For example, he spent a decade serving as their Director of Sales and Relationship Management and led a nationwide team supporting emerging registered investment advisor (RIA) practices. Prior to his leadership roles, he was also named as his team’s salesperson of the year three times, which attributes to his consultive approach with his advisors.

What drives Scott is the opportunity to sit across the table from the partners of an advisory practice, helping them shape —and then achieve —the vision for their business. Scott says, “I want to do what I can to elevate the public understanding of, and trust in, the independent model.” He believes that helping advisors create enduring, transferable businesses plays a huge role in that effort.

Scott chose to join FP Transitions because he sees us as a pioneer in supporting independent advisors. As a Senior Consultant here, he can tap into his extensive expertise to help advisors grow and protect their business. He sees particular value in leveraging our Equity Management Solutions™ to help advisors compare their practice valuations to industry peers and to identify opportunities to maximize that valuation.

Scott is also a seasoned and talented golfer who has played in the Nebraska Mid-Amateur Golf Championship twice. If you need recommendations for a dinner pairing, ask Scott. He’s earned the Level 1 and Level 2 awards in wines from the Wine & Spirit Education Trust (WSET).