WealthTech on Deck LifeYield

WealthTech in the Weeds is a series covering the broad yet critical path to financial services. The goal is to get together with industry experts and get into the details of building an effective, productive, coordinated, and comprehensive advice system.
The wealth management industry is moving away from individual products and strategies and shifting toward a more coordinated approach with comprehensive advice systems that incorporate the entire scope of investors' household accounts. Firms like Franklin Templeton and LifeYield are at the forefront of this evolution, leveraging technology and partnerships to provide better financial outcomes for clients and advisors.
In this episode, Jack talks with Roger Paradiso, Global Head of Advisor Portfolio & Technology Solutions at Franklin Templeton and Executive Chairman at O'Shaughnessy Asset Management, and Mark Hoffman, Co-Founder and CEO of LifeYield. They discuss the shift in the wealth management industry toward a more coordinated approach to improving financial outcomes for clients. Roger highlights Franklin Templeton’s comprehensive advice capabilities, focusing on personalization, customization, and curation of solutions. Mark talks about LifeYield’s role in connecting and optimizing various capabilities to create better portfolios and solutions.

Key Takeaways

[02:34] - Franklin Templeton's asset management strategies and solutions.

[06:00] - The acquisition of O'Shaughnessy Asset Management.

[07:29] - Investing in Eaglebrook Advisors.

[08:49] - Franklin Templeton's innovative investment strategies.

[10:57] - Franklin Templeton's technology integration.

[14:02] - Franklin Templeton's collaborative solutions across financial networks.

[22:06] - Optimizing investment strategies to improve client outcomes.

[27:54] - Franklin Templeton's custom wealth solutions.

[33:49] - How LifeYield helps partners generate tax alpha.

[36:07] - Roger and Mark's key takeaways.


Quotes
[03:18] - "While our core belief in business is always around the manufacturing of great investment solutions and products, if you really want to remain relevant in the industry going forward, you need to do more than that. You always need to have core products, great investment performance, and a broad swath of solutions." ~ Roger Paradiso
[08:49] - "Franklin Templeton has assembled all the right pieces to create customized strategies and advice for financial advisors." ~ Mark Hoffman
[36:07] - "Our business is evolving fast. Technology is becoming more powerful, and clients demand a much higher level of relationship and solution." ~ Roger Paradiso
[36:34] - "We see the retirement market evolving at a hastened pace. This retirement advice, the wheel of wealth, and the client's choices to customize their solution to get a better outcome is the key for any firm in the wealth management space to be aware of." ~ Mark Hoffman

Links 

Roger Paradiso on LinkedIn

Mark Hoffman on LinkedIn

Franklin Templeton

O'Shaughnessy Asset Management

Eaglebrook Advisors

Paul Samuelson

Goals Optimization Engine (GOE®) | Franklin Templeton

Portfolio Analytics Tool | Franklin Templeton

Franklin Templeton Investment Solutions

Franklin Templeton Academy

Morningstar

EY

Vanguard


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LifeYield

Jack Sharry on LinkedIn

Jack Sharry on Twitter


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Advisor360° believes that the future of financial planning is creating an exceptional client experience. This means investing in strategies that directly involve clients in the planning process. By co-planning and leveraging the right technology, advisors can unlock a new level of client satisfaction and loyalty, ultimately leading to happier, more engaged individuals willing to invest in their financial well-being. 
In this episode, Jack talks with Darren Tedesco, President of Advisor360°. Darren began his career at Commonwealth Financial Network, where he played a key role in building their technology platform. In 2019, he helped spin off Advisor360° as a separate company focused on providing innovative technology solutions to wealth management firms. Darren has been part of the software development since its inception, bringing together the thinkers, creators, and visionaries who help power clients' productivity, profitability, and growth. 
Darren talks with Jack about the evolution of Advisor360° and discusses the importance of data, co-planning, and the role of AI in the future of wealth management. 

Key Takeaways

[01:24] - Darren's journey into wealth management.

[05:27] - The birth of Advisor360°.

[09:27] - Advisor360°'s current initiatives.

[13:38] - Revolutionizing data management and tech automation.

[17:05] - The future of financial advice.

[22:56] - Darren's three key takeaways.

[24:31] - Darren's passions outside of work.


Quotes
[11:05] - "If you can create an amazing client experience, they're going to be happy. A happy client means a happy advisor." ~ Darren Tedesco
[16:33] - "Data is essential. And if you've got faulty data, your software is built on a house of cards. You have to have good, clean data to drive the future of where the whole industry is going." ~ Darren Tedesco
[23:22] - "Scaling the planning process is going to be mission-critical in the next six to seven years. The firms that can figure out how to do that in the best way are going to likely win the hearts and minds of the advisors and, ultimately, the clients." ~ Darren Tedesco

Links 

Darren Tedesco on LinkedIn

Advisor360°

Commonwealth Financial Network

John Vaccaro

MassMutual

Fidelity Investments

Pershing

Charles Schwab

Snowflake


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LifeYield

Jack Sharry on LinkedIn

Jack Sharry on Twitter


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In today’s world, traditional marketing tactics are often ineffective in capturing clients' attention. Organic growth in financial services lies at the intersection of content, delivery, and personalization. By using AI to generate personalized content, advisors can create meaningful connections and engage clients more effectively. AI-powered marketing is promising, as it has the potential to deliver unique and tailored content that resonates with individual clients at scale.
In this episode, Jack talks with Robert Sofia, Founder and CEO of Snappy Kraken. Robert has served thousands of companies across the spectrum of financial services, including RIAs, family offices, broker/dealers, TAMPs, IMOs, custodians, insurance, and investment companies. With a background in marketing, Robert is passionate about helping advisors forge meaningful connections with their clients and prospects. He is dedicated to leveraging technology, including AI, to create engaging and personalized content.
Robert talks with Jack about how Snappy Kraken helps financial advisors drive organic growth through content, automation, and AI. He shares insights from their recent marketing study, highlighting the importance of SEO, text messaging, and video content in driving engagement and conversions. Robert also emphasizes the evolving role of advisors in providing holistic financial advice and using generative AI to personalize content.

Key Takeaways

[01:06] - Snappy Kraken’s role in the financial services industry.

[02:31] - Empowering financial decisions through content and automation.

[04:34] - Insights from Robert's recent marketing study.

[10:28] - The highest-converting lead magnet.

[13:29] - Empowering advisors to step out of their comfort zones.

[15:04] - How Snappy Kraken works with large enterprises.

[17:48] - How Robert uses generative AI for marketing.

[22:39] - The future of financial advice.

[26:15] - Strategies for driving organic growth.

[27:39] - Robert's interests outside of work.


Quotes
[11:01] - “The number one highest-converting lead magnet was tax-related. So, the top-performing campaign, bar none by a huge margin, was hidden tax opportunities for high-net-worth investors. And that campaign outperformed all others.” ~ Robert Sofia
[21:18] - “The future of AI in our business, as far as marketing is concerned, is at the intersection of content, content delivery, and personalization with generative AI.” ~ Robert Sofia
[27:12] - “If you're already out there marketing and already have a website, why not make it perform twice as well with an SEO strategy? If you already have opt-in on your website, why not make them convert 400% better using text messages? If you're already sending out communications, why not record them as videos instead of text and get 120% better engagement?” ~ Robert Sofia

Links 

Robert Sofia on LinkedIn

Robert Sofia on Twitter

Snappy Kraken

Tiburon Strategic Advisors

LPL Financial

Nitrogen Wealth

Fidelity Investments


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This year's Voice of the American Workplace Survey sheds light on the challenges employers and employees face in today's American workplace. The report underscores the challenges employers face, employee concerns and workplace expectations, and the gap between employer resources and employee needs. By understanding these gaps, the industry can develop innovative solutions that redefine retirement and deliver stronger financial outcomes for US workers.
In this episode, Jack talks with Jacquelyn Reardon, Head of US Marketing at Franklin Templeton, about the results of the survey, some key takeaways, and its implications for the future.

Key Takeaways

[01:17] - What the Voice of the American Workplace Survey is all about.

[02:08] - Key takeaways from this year's survey.

[18:24] - The need for hyper-personalized employee benefits and engagement.

[19:47] - How employers can address issues and concerns in the workplace.

[22:38] - Enhancing employee benefits and personalized financial advice.

[24:17] - Jacquelyn's interests outside of work.


Quotes
[02:42] - "Employees are significantly under stress when it comes to their financial health, and they're specifically looking to their employer to help them address those issues and concerns." ~ Jacque Reardon
[09:34] - "Financial independence is the north star people are working towards versus traditional retirement. People are feeling less and less likely to be able to meet these key milestones because of the financial stress that they're feeling today due to a whole slew of factors." ~ Jacquelyn Reardon
[18:24] - "The number one benefit that people are requesting is personalized benefits. The appetite's there, and the expectation is there from a societal standpoint. So people are absolutely expecting that." ~ Jacquelyn Reardon
[23:00] - "We have to come together and figure out how to plug in the best way and do it in a way that will be super user-friendly both for the employer and the employee. We can build this phenomenal tool and resource, but if it's not something that the employer can easily put into their ecosystem and that the employee can easily use and see the benefit of, then there is no point in building these tools." ~ Jacquelyn Reardon

Links 

Jacquelyn Reardon LinkedIn

Voice of the American Workplace Survey | Franklin Templeton

Franklin Templeton

Morgan Stanley

Edmund Murphy

Empower

Aaron Schumm

Vestwell

Brian McDonald


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The age of the new wealth portfolio ushers in an era of customization and optimization. Investors today demand a diversified array of investment options and a better user experience, requiring a powerful connection between technology and investment solutions. This integration empowers advisors to leverage tax optimization strategies, explore new product structures, and become true partners in achieving their clients' financial goals.
In this episode, Jack talks with Erich Holland, Executive Managing Director and Head of Sales & Experience at SEI. In his role, Erich leads the go-to-market strategy for sales and distribution for SEI's advisor business, executing the independent advisor experience and leading efforts for continued growth and new market expansion. His team helps advisors more intelligently deploy their capital to run more efficient advice businesses and serve their clients more effectively. Since joining SEI in 2010, Erich has gained broad experience across most areas of the firm's advisor business—new business development, relationship management, practice management, and advisor business planning.
Erich talks with Jack about SEI's history as a pioneer in the wealth management industry and its recent tech-enabled initiatives. He highlights SEI's investment management offerings, including its SMA and UMA platforms, tax optimization, and integrated custodial and technology solutions. Erich also emphasizes the need for advisors to specialize, leverage partnerships, and seek progress to succeed in the evolving wealth management industry.

Key Takeaways

[02:04] - Erich's role at SEI.

[05:47] - How SEI began.

[10:41] - The growth of SEI's Investor Manager Services business.

[13:02] - SEI's new CEO.

[16:26] - How SEI participated in the Schwab Impact Conference in Philadelphia.

[19:36] - The future of wealth management technology.

[24:02] - Challenges and opportunities in the growing financial services sector.

[28:36] - Erich's three key takeaways.

[30:14] - Erich's interests outside of work.


Quotes
[20:33] - "If advisors aren't pushing themselves to learn more about new product types, whether that's passive or active ETFs, the individual security structure, the benefits of tax optimization, and then household overlay, then they're leaving the potential for value on the table in a big way for clients." ~ Erich Holland
[21:22] - "Investments are a matter of opinion. Taxes are a matter of fact. SMAs, UMAs, and tax optimization are ways to bring those facts to life." ~ Erich Holland
[28:50] - "The most successful advisors I've ever met have emotional intelligence, a connection to individuals and families, human elements, confidence, courage, and conviction in their planning." ~ Erich Holland

Links 

Erich Holland on LinkedIn

SEI

Morningstar

Ryan Hicke

Charles Schwab

Schwab IMPACT

Jeff Benfield

Michael Kitces


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Innovation in wealth management is more than just creating the next big tech tool. It's also about mindset shift and redefining processes to unlock groundbreaking possibilities. Embracing a mindset-centric approach to innovation and technology as an amplifier empowers human advisors to deliver an even more personalized and impactful experience for their clients.
In this episode, Jack talks with Matt Reiner, Managing Partner & Senior Investment Advisor at Capital Investment Advisors. Matt has a passion for innovation and technology in the wealth management industry. He has developed a program called The Circle, a community of growth-oriented wealth management professionals looking for ways to grow, create scalability, and consistently deliver value to clients. At Capital Investment Advisors, Matt provides people with an investment plan that helps them attain their goals before and during retirement. 
Matt talks with Jack about his journey in wealth management and how he discovered his passion for innovation and technology. He discusses the importance of an innovative mindset and how it can drive organizational change. Matt also emphasizes the value of human financial advisors and how technology can empower them to serve more clients more deeply. 

Key Takeaways
[01:33] - Matt's role at Capital Investment Advisors and The Circle.
[06:07] - The kind of innovation Matt focuses on.
[10:21] - How Capital Investment improves its processes through its innovation lab.
[14:38] - Exploring the potential of generative AI.
[17:27] - How Matt develops Capital Investment's business model.
[19:22] - Future trends in wealth management.
[21:58] - Matt's key takeaways.
[23:05] - Matt's interest outside of work.

Quotes
[04:45] - "My mission is to help every family across this country have access to a human financial advisor because I think the human-advisor relationship is pivotal and game-changing." ~ Matt Reiner
[07:21] - "Our goal within innovation is not just to build technology. It's to change mindsets, to change processes, and then also technology." ~ Matt Reiner
[22:04] - "The human advisor is the most valuable person in a financial relationship. Independent of what technology innovations happen, the human advisors never go away." ~ Matt Reiner

Links 

Matt Reiner on LinkedIn

Matt Reiner on Twitter

Capital Investment Advisors

The Circle


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LifeYield

Jack Sharry on LinkedIn

Jack Sharry on Twitter


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