Tag: Fintech

Lacey Shrum
The WealthStack Podcast: Fixing the RIA Fee Billing Conundrum with Lacey Shrum

The WealthStack Podcast: Fixing the RIA Fee Billing Conundrum with Lacey Shrum

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RIAs have a billing problem. Mainly because the process has always been manual and prone to errors. Enter Smart Kx – the only software system designed specifically to help financial advisors dynamically and accurately manage client contracts and fee billing. 

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Lacey Shrum, Founder of Smart Kx, about how her software has helped eliminate the manual process of contract management and billing.

Shannon and Lacey discuss:

  • The biggest challenges RIAs face during their billing cycles 
  • Why current technologies aren’t sufficient to document or calculate various fee structures
  • How Smart Kx software solves billing challenges through automation
  • Best practices RIAs can adopt when it comes to policies and procedures around fees and billing

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Lacey is a founder, attorney and technologist. After continually seeing RIA firms fail the common regulator question “do your fees match your contracts?” Lacey developed Smart Kx to automate client contracts, fees and disclosures into one compliant process. 

Before founding Smart Kx, Lacey practiced law focusing on RIAs and startups. She represented a successful whistleblower claim with the SEC and testified as a subject matter expert on cryptocurrency matters. She is a frequent speaker on RIA fee billing methods and compliance, automated contacts, and bitcoin.

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Sheryl O'Connor
The WealthStack Podcast: Demystifying the Decumulation Phase of Retirement Planning with Sheryl O’Connor

The WealthStack Podcast: Demystifying the Decumulation Phase of Retirement Planning with Sheryl O’Connor

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When it comes to retirement income planning, an advisor’s role must go beyond getting clients to retirement, it’s also about getting them through retirement. If advisors only concentrate on accumulation and don’t help their clients plan for and support them through decumulation, they’re likely going to lose those clients and all the assets they worked so hard to obtain and manage.

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Sheryl O’Connor, Founder and CEO of IncomeConductor, about how their technology is empowering advisors to feel more comfortable talking about retirement, health care, and longevity with their clients. 

Shannon and Sheryl discuss:

  • Why the decumulation planning phase can be more complex than accumulation
  • What an aging population means for the industry 
  • How the platform uses time segments to build an income plan
  • What’s on the roadmap for IncomeConductor

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Sheryl has spent over 25 years in the financial services industry at insurance and investment management firms, leading strategic business growth and technology innovation.

In 2006 Sheryl co-founded 3D Asset Management, an SEC-registered investment management firm that focused on providing innovative practice management solutions along with investment portfolios to fee-based advisors to help them grow their business and succeed in the wealth, retirement plan and retirement income marketplaces. She has worked closely with advisors and is passionate about helping them re-define their value proposition in ever-evolving professional and market environments.



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Joanna Kanakis
The WealthStack Podcast: Building Protective Investment Solutions with Joanna Kanakis

The WealthStack Podcast: Building Protective Investment Solutions with Joanna Kanakis

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The value of protective investments has become more evident as the traditional 60/40 portfolio allocation has continued to become less attractive. Investors are seeking alternatives that will mitigate risk regarding today’s main macro market trends, and advisors must consider a “new model portfolio” that incorporates protective investments as they become more mainstream and accessible.

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Joanna Kanakis, EVP, Head of Business Development, at Halo Investing about how technology is powering better investment outcomes for clients. 

Shannon and Joanna discuss:

  • Democratizing access to protective investments 
  • Challenges in modern day portfolio construction 
  • How structured notes and annuities help reduce longevity risk
  • How Halo Investing is closing the risk gap

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Joanna Kanakis is EVP, Head of Business Development at Halo Investing, LLC. In her role, Joanna is leading sales initiatives to institutional clients in the Americas, working to democratize and disrupt the world of defined outcome investing. At Halo, she is working to provide efficient access for investors to understand and purchase structured notes, annuities and structured ETFs.

Prior to Halo, Joanna was a Director in the Prime Services Division of Global Markets for Societe Generale. There, she led Midwest sales efforts across global market products for institutional clients and led sales development in Latin America including Brazil, Chile, Mexico and Peru. She also participated as Culture and Conduct Champion, America Women’s Network Co-chair of Client Events, Global Markets Future Leaders participant in 2016, and won the Global Markets Division Global Cooperation Sales award in 2015. Before Societe Generale Joanna worked as a Sales-Trader at Newedge and Credit Agricole, finding and fostering relationships with institutional clients to provide voice execution and direct market access to global listed derivatives and options markets, sitting on the front lines throughout the 2008 financial crisis and its aftermath. Prior to working for the French, Joanna spent a brief 6 month stint in Anchorage, Alaska working for Rise Alaska as a Project Management Assistant.

Ms. Kanakis graduated magna cum laude from North Park University with a Bachelors of Arts in Philosophy. In 2016, Joanna received the North Park Distinguished Young Alumni Award. Joanna currently serves on the Advisory Board for North Park University’s School of Business and Non-Profit Management and she also serves as Co-Chair of Women in ETFs Chicago chapter. Joanna is raising her family in Ukrainian Village and you may find her at the Empty Bottle catching a good show or running along the 606 in her ever narrowing free time.

 

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Adam Holt
The WealthStack Podcast: The Future of Financial Wellness with Adam Holt of Asset-Map

The WealthStack Podcast: The Future of Financial Wellness with Adam Holt of Asset-Map

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As financial planning becomes more accessible, the U.S. population is looking to become more “financially fit”. Advisors can help clients achieve this by having a deep understanding of their client’s financial situation, risk tolerance, objectives, and preferences.

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with CEO and Founder of Asset-Map, Adam Holt, about the impact of advice engagement on client outcomes, such as financial wellness and satisfaction.

Shannon and Adam discuss:

  • What Asset-Map’s recent round of funding means in terms of growth for the firm
  • Where advice engagement fits into financial planning
  • What kind of impact advice engagement is having across the wealth management industry
  • Why advisors need to consider the “6Ls” approach when speaking to clients 

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Adam Holt has been a financial advisor for 20 years helping to build and manage his wealth management firm to over $1B in assets under management. Holt is known for his early adoption of technology to build customer experiences that are trend-setting in the industry. He is the founder and chief executive officer of Asset-Map, LLC, a fintech firm dedicated to creating engaging visual communication tools used throughout the customer and advisor journey.

Holt obtained his Bachelor of Science in economics and environmental planning from Rutgers University, an MBA from Drexel University and a certificate in retirement planning from Wharton School of Business at the University of Pennsylvania. Holt also attended the American College where he earned his Chartered Financial Consultant® designation.



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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

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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.



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

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

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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.



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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

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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.



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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

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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.

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

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

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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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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).

 

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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

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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.

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