Tag: FinancialManagement

The WealthStack Podcast: How Technology Can Bridge the Gap in Underserved Areas of Financial Planning

The WealthStack Podcast: How Technology Can Bridge the Gap in Underserved Areas of Financial Planning

Investors are looking for more complex advice, so how is technology helping bridge the gap in areas of financial planning that are currently underserved, like estate and tax planning? 

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Andrew Altfest, CFP®, CEO and Founder of FP Alpha, to learn how his firm is empowering advisors to identify more actionable opportunities.

Shannon and Andrew discuss:

  • Why there’s a disconnect in what investors want and what some advisors deliver
  • Why investor needs have become so complex
  • How AI is being used effectively now in the financial planning process
  • How financial advisors can use advice engagement tools to quantify and communicate the value they are creating for clients

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Andrew Altfest, CFP®, MBA is the founder and CEO of FP Alpha, the first AI-driven comprehensive financial planning solution that enables advisors to provide actionable and personalized recommendations to clients across over 15 financial planning disciplines, and is complementary to their current retirement planning software, starting where it stops.

The software enables financial advisors to save time in the planning process through document automation, showcase their value beyond investments, and create a customized deliverable for their entire client base.

Founded in February of 2020, FP Alpha is regularly cited by industry experts and advisors as one of the most innovative wealth tech solutions for advisors. Andrew is also the President and Principal Advisor at Altfest Personal Wealth Management, a $1.5B RIA based in New York City. There he advises clients about their personal finances and drives financial planning strategies across the firm. He is also an active member of Altfest’s Investment Committee and the Portfolio Action Group, which sets investment strategy for client portfolios.

As a leader of Altfest Personal Wealth Management, Andrew has spearheaded a number of initiatives to expand the firm. These have included organizing different practice groups focused on client segments, launching private equity solutions and directing the firm’s Young Professionals group aimed at millennials. He also has encouraged further formalizing investment processes and led the introduction of a new technology process mandate with digital planning, to enhance decision-making, client experience and productivity. Additionally, Andrew leads the firm’s efforts in the tax management of investment portfolios, and advises clients on charitable contributions.



The WealthStack Podcast: Innovation in Fixed Income with Russell Feldman of IMTC

The WealthStack Podcast: Innovation in Fixed Income with Russell Feldman of IMTC

The fixed income market is 30x larger than the equity market, but while 92% of equities trade electronically, fixed income continues to be dominated by voice trades and manual processes. Fortunately, a technological shift is happening as automation is having a profound impact on the fixed income market, with workflow efficiency being top of mind. 

In this episode, Shannon Rosic, Director of WealthStack Content and Solutions, speaks with Russell Feldman, Co-Founder and CEO of IMTC, about what’s driving innovation in fixed income.

Shannon and Russell discuss:

  • Why fixed income, as an asset class, has been neglected technologically
  • What fixed income workflows need innovation
  • The impact of inflation on fixed income investments
  • How IMTC helping along the electronification of fixed income

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Russell is the CEO and co-founder of IMTC, leading the strategic direction across all areas of the company. Prior to launching the business in 2016, Russell worked in Institutional Sales and Client Advisory at Deutsche Asset Management serving clients across a broad array of investment products. The creation of IMTC is a direct outgrowth of his time as a fixed income portfolio manager at the bank where frustrations around the limitations with existing tools ultimately triggered the need for a more dynamic solution.

Mr. Feldman is a frequent speaker and thought leader in the fixed income industry with appearances on WealthManagement.com, The Desk, and numerous industry events. He was also named a 2022 Rising Star by the Bond Buyer and the Community Impact Award Honoree from the Crohns & Colitis Foundation, for which he actively supports. Russell graduated from the George Washington School of Business and currently lives with his wife in New York City.



The WealthStack Podcast: Utilizing AI to Help Advisors Grow Organically with Yelena Melamed

The WealthStack Podcast: Utilizing AI to Help Advisors Grow Organically with Yelena Melamed

Time. It’s the one thing advisors need more of, and fortunately, Catchlight is on a mission to save advisors time and help them reach their top leads quicker.

In this episode, Shannon Rosic, Director of WealthStack Content and Solutions, speaks with Yelena Melamed, Head of Product and Co-Founder, Catchlight Insights LLC, about how financial advisors can scale and grow organically through the use of powerful data, unique insights, and pre-scripted actions all driven by proprietary AI models.

Shannon and Yelena discuss:

  • How AI is being used as a tool to support the human work of financial advice
  • Why data is key to driving efficiency in an advisor’s prospecting efforts
  • How advisors can understand their prospects at scale
  • Use cases around using data to drive personalized engagement

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Yelena Melamed is a co-founder and head of product at Catchlight, a prospect analysis and lead-conversion provider that came out of Fidelity Labs.



The WealthStack Podcast: 4 Major Post-Pandemic Trends in the Investment Advisory Industry with Rob Roquitte

The WealthStack Podcast: 4 Major Post-Pandemic Trends in the Investment Advisory Industry with Rob Roquitte

Financial advisors are struggling to meet client demands in a post-pandemic, virtual world. Research shows that investors want more virtual services, and a one-size-fits-all service model does not work anymore.

In this episode, Shannon Rosic, Director of WealthStack Content and Solutions, speaks with Rob Roquitte, Founder and CEO of eCIO, which is powered by eVestech, a virtual communication hub for financial professionals.

Shannon and Rob discuss:

  • Why technology proliferation is leading to a terrible client experience
  • How advisors can service clients profitably by using technology
  • What the great wealth transfer will mean for advisor and the implications
  • The importance of providing client-centered service

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Rob has 30 years of investment experience serving in business development, client servicing, portfolio management, and department oversight roles. At eVestech, he leads our team of talented investment and technology professionals delivering state-of the art solutions to institutional investors and other financial services firms. Rob serves as an Investment Advisor to our clients, developing investment strategy, overseeing portfolios, and communicating with investors. He also chairs our investment committee.

Rob has held senior level positions with large money management organizations, where he has sought out entrepreneurial roles including establishing new products and markets, opening new office locations, and maintaining P&L responsibilities. Prior to launching eVestech, Rob established the Outsourced Chief Investment Officer (OCIO) practice for Madison Investments focused on serving larger non-profit organizations. He was also a founder and lead portfolio manager of the small cap portfolio management team at Allegiant Asset Management, which was later acquired by PNC Bank. In Rob’s first entrepreneurial role, he established and built a regional pension consulting office in Chicago which was later acquired by Empower Retirement.

Rob is actively involved in his community serving on two institutional investment committees for nonprofit organizations (including chairing the endowment/finance committee). He received a BSBA in Finance and Marketing from the University of Denver and his MBA in Finance and Economics from the Booth School of Business at the University of Chicago. Rob also holds the Chartered Financial Analyst (CFA) designation.

The WealthStack Podcast: Making Data Actionable with Scott Leak of FP Transitions

The WealthStack Podcast: Making Data Actionable with Scott Leak of FP Transitions

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 

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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).

 

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

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

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

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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.

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

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

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

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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: Digitizing Your Practice End-To-End with Jason Pereira

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

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 

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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: Solving Integration Challenges is Now a Reality

The WealthStack Podcast: Solving Integration Challenges is Now a Reality

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

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Kyle Van Pelt started working in professional sports, then into software, then he and his wife started and ran a coffee shop, then back to software and into finance. Kyle has tried a bunch of different things and built a diverse set of experiences.

 

The WealthStack Podcast: How Does 401(k) and Held Away Account Management Fit into Holistic Advice?

The WealthStack Podcast: How Does 401(k) and Held Away Account Management Fit into Holistic Advice?

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 

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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.