CRM Unlocked Skience

In the new era of financial services, the industry is now recognizing the need for a more comprehensive approach beyond just investing. Moreover, clients increasingly seek advisors who can provide holistic financial planning and advice. 
In this episode, Sanjeev and Ali talk with Philipp Hecker, Co-Founder and CEO at Bento Engine. Philipp focuses on tech-driven advisor enablement and implementing client-centric growth strategies in the wealth and asset management industries. As someone who believes that wealth, when properly managed, can be a force for good for individuals, their families, and the communities they live in, Philipp is passionate about financial planning, behavioral finance, and educating children about the importance of money and wealth.
Passionate about advice beyond investing, Philipp talks with Sanjeev and Ali about how Bento Engine engages and serves clients in moments that matter, how the company elevates the power of CRM to help advisors have better conversations with their clients, and the trends Philipp sees in wealth management.

Key Takeaways

[01:00] - An overview of Philipp's personal and professional background.

[03:39] - The motivations behind the creation of Bento Engine.

[06:21] - How Bento engages and serves clients in moments that matter.

[12:12] - How Bento generates more client engagement.

[16:34] - What technology can do for advisors.

[20:02] - The trends Philipp sees in wealth management.

[23:42] - What Bento Engine has in store for the future.

[30:41] - How CRM revolutionizes the way advisors serve their clients.


Quotes
[09:29] - "Everybody wins when advisors do the right thing and serve clients comprehensively. Client experience and outcomes are demonstrably better, and the advisor wins by increasing loyalty, net promoter score, and referral rate." ~ Philipp Hecker
[16:36] - "We use high-tech to make advisors more high-touch. We unleash the awesome power of technology and the data they have already captured in their CRM systems to give advisors great reasons to reach out in a very constructive way, very human, non-product pushy type of advice-led conversations." ~ Philipp Hecker
[20:21] - "The need for human wealth management advice will only go in one direction, and that is up. More and more Americans appreciate the need and opportunity for human guidance to tackle some of their complex problems." ~ Philipp Hecker

Links 

Philipp Hecker on LinkedIn

Philipp Hecker on Twitter

Bento Engine

Salesforce

Wealthbox


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Ali McCarthy

Sanjeev Kumar

Skience


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In this episode, Marc Butler talks with Matt Reiner, CEO and Co-Founder of Benjamin. After spending years as both a financial manager for individuals and helping to lead Capital Investments Advisors and Wela Strategies, Matt co-founded Benjamin, an AI fintech company that serves the financial advisor industry. Matt used both Capital and Wela as testing grounds for his technology. Now, Benjamin helps hundreds of firms across the country streamline time-consuming tasks and allows for greater client engagement through technology.
Matt believes that with true innovation, RIAs will attract top-tier talent, create efficient and scalable practices, and offer higher-quality personal service to clients at all levels of wealth.
Dedicated to helping the financial services industry grow and evolve, Matt talks with Marc about his journey in wealth management and fintech, his motivation for creating Benjamin, and his mission to do everything possible to provide access to financial advice to everybody.

Key Takeaways

[01:53] - An overview of Matt's professional and personal background.

[04:42] - The dynamics of working in a family business.

[09:46] - What motivated Matt to create Benjamin.

[15:48] - What's next for Benjamin in the coming years.

[20:24] - What Matt's podcast, Bridging the Gap, is about.

[23:58] - Matt's recommendations for books.

[26:30] - The podcast Matt listens to the most.

[28:02] - Matt's perspective on wealth management's future.


Quotes
[05:50] - "Our focus has always hinged on our investment thesis of helping families generate a consistent stream of income utilizing marketable securities that can fill their spending gap in retirement to help them sleep well at night." ~ Matt Reiner
[11:39] - "We were growing at a pretty good clip, and it was putting a lot of pressure on our team. The challenge that we were facing was nothing was really integrated. Our team had to manage and maintain their manila folders on the desk, and things were falling through the cracks. And it wasn't anything due to our people. It was more of our process." ~ Matt Reiner
[18:27] - "Our ethos is not to be a replacement for technologies that advisors are using. We're not going to recreate a paperwork process, the calendar scheduling process, or a reporting engine. We will tap into the companies that have already done a great job with that and be the air traffic controller." ~ Matt Reiner

Links 

Matt Reiner on LinkedIn

Matt Reiner on Twitter

Capital Investments Advisors

Wela Strategies

Benjamin

eMoney Advisor

Bridging the Gap Podcast

The Ride of a Lifetime: Lessons Learned from 15 Years as CEO

Shoe Dog

It Takes What It Takes: How to Think Neutrally and Gain Control of Your Life

The Daily Stoic Podcast

Charles Schwab

Fidelity Investments


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Sanjeev Kumar

Marc Butler

Skience


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The use of data and data-driven tools has increased rapidly in recent years. However, many organizations have yet to be able to effectively utilize this data due to a lack of understanding of how to use it. While there is a growing gap between the available data and its utilization, the effective use of data is predicated on technology but grounded in human behavior.
In this episode, Ali and Sanjeev talk with Spenser Segal, Chief Executive Officer of ActiFi. With 33 years in the financial services industry, Spenser has witnessed the dawn of the fintech era. Spenser was named by Investment Advisor magazine as one of the top 25 Most Influential People in the U.S. Financial Advisor Community.
Committed to delivering world-class financial advice for both financial advisors and the institutions that serve them, Spenser talks with Ali and Sanjeev about the importance of optimizing human and technological capabilities, why bridging the gap between technology and data utilization is key to driving effective business outcomes, and how he and his team at ActiFi deliver customized services at scale.

Key Takeaways

[00:57] - Spenser's role in the financial services industry.

[03:24] - Why financial firms are struggling to unlock their full potential.

[08:14] - How advisors have adopted technology in recent years.

[12:40] - Why advisors need help unpacking data and analytics.

[19:03] - How institutional partners can help advisors leverage data and technology.

[20:50] - A strategy for adopting and implementing technology effectively.

[25:21] - The platinum rule.

[27:20] - What Spenser has in store for ActiFi in the future.


Quotes
[03:43] - "Financial firms are struggling to unlock their maximum potential because, ultimately, it is a behavioral change problem more than a technology problem." ~ Spenser Segal
[05:08] - "One of the ways we better understand how to do something as robust as understanding a client's needs, translating that into a plan, and being able to execute that plan is to experience that ourselves." ~ Spenser Segal
[13:56] - "Anyone can produce a report, but not anybody can teach and coach another colleague to effectively look at the report, to truly understand what they're looking at, translate that understanding into concrete actions, and then have accountability and transparency in implementing those solutions to drive a better business outcome." ~ Spenser Segal

Links 

Spenser Segal on LinkedIn

Spenser Segal on Twitter

ActiFi

Microsoft Power BI

Tableau

Salesforce


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Sanjeev Kumar

Skience


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Financial firms have to communicate with various audiences, from investors and analysts to the media, regulators, and the general public. Each of these groups has its own specific needs and concerns. With the right PR partner who understands the challenges and nuances of the industry, only then can they develop the right strategies and messages that will resonate with each audience.  
In this episode, Ali and Marc talk with StreetCred Communications' Founding Partner, Jason Lahita and Managing Partner, Jimmy Moock. Compelled to reignite his entrepreneurial flame, Jason launched StreetCred Communications. With a deep determination and Integrated Partners as his first client, he built the PR agency he had always envisioned. In March of 2021, Jason's good friend Jimmy joined him as an equity partner and PR Team Commanding Officer. This brought to fruition a dream the duo had often talked about at various industry events.
Providing public relations services to financial firms, Jason and Jimmy talk with Ali and Marc about what it takes to be the best public relations professional, what it means for firms to be authentic, and what the future trends in wealth management are from a communication perspective.

Key Takeaways

[00:48] - The role of Jason and Jimmy in the financial services industry.

[03:44] - How enterprise consolidation impacts brand marketing.

[08:26] - The backbone of the tech stack.

[09:50] - What it means for firms to be authentic.

[14:45] - The rules in public relations.

[21:00] - The parallels between fintech and public relations.

[21:58] - What advisors should consider when communicating with potential clients or the public.

[26:36] - The role of technology in enabling client communication.

[27:36] - The future trends in wealth management from a communication perspective.

[31:33] - How Jason and Jimmy measure their success in serving clients.


Quotes
[08:35] - "CRM is the backbone of the tech stack. We look at it as the exoskeleton of a technology stack." ~ Jason Lahita
[10:37] - "It's important for firms to be their authentic selves, to lean in into the culture of who they are, to carve out a spot for themselves in terms of industry media and able to carve out attention for themselves in front of consumer-facing media." ~ Jimmy Moock
[16:43] - "We think of ourselves as the sword and shield for our clients. It's okay to take this personally, and you have to buy into your client's messaging and how they're positioning themselves to the press. Only if you can let yourself go and absorb those messages, emotion, intensity, and passion for what you do can you be the best PR practitioner." ~ Jason Lahita

Links 

Jason Lahita on LinkedIn

Jason Lahita on Twitter

Jimmy Moock on LinkedIn

Jimmy Moock on Twitter

StreedCred PR

Joe Duran

Goldman Sachs

Orion Advisor Solutions

Redtail Technology

Hightower Advisors

Dynasty Financial Partners

Focus Financial Partners

CI Financial


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Ali McCarthy

Marc Butler

Skience


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Customers are the lifeblood of any business. It is, therefore, essential to have a system that can help manage customer relationships. CRM systems can be powerful tools for managing customer data and interactions, but only if used effectively.
In this episode, Ali and Sanjeev talk with Michael Toran, Senior Vice President of Information Technology at Relation Insurance Services. In his role, Michael is responsible for all aspects of planning, managing, and securing corporate and business-unit IT operations, software development, and infrastructure for Relation Insurance. With 25 years of insurance industry experience across various disciplines, including prior senior financial and operational roles, Michael brings a well-rounded, business-focused approach to technology management and strategic decision-making.
Michael talks with Ali and Sanjeev about how he and his team at Relation Insurance Services deliver customized services at scale in different markets. Michael also provides an overview of industry best practices for CRM, why CRM can be a differentiator in recruiting and acquiring producers, and the importance of having a shared vision when adopting CRM practices. 

Key Takeaways

[01:14] - What Relation Insurance Services offers its clients.

[02:16] - How Michael's firm utilizes CRM platforms effectively.

[04:50] - How Michael made CRM integrations scalable, effective, and future-proof.

[10:22] - An in-depth look at how Michael integrates CRM technologies.

[15:05] - Michael's efforts to promote user adoption.

[19:25] - How Relation Insurance Services is structured.

[22:24] - Why CRM can be a differentiator in recruiting and acquiring producers.

[28:00] - The importance of a shared vision when adopting CRM. 

[29:30] - What's next for Relation Insurance Services.


Quotes
[15:15] - "You can have a great salesperson that's technologically a horrible individual to deal with on a day-to-day basis. They can barely open a laptop or get into their email, but they can close deals and sales. You have to realize that just because they're not a tech-savvy user doesn't mean they're not a valuable member of your sales team." ~ Michael Toran
[22:38] - "Depending on where producers come from, they expect a certain level of software. If you don't have a CRM, they're not coming." ~ Michael Toran
[28:12] - "Many missteps happen when a salesperson sells to a leader that sees a dashboard and has no idea how much work it is to get to that point." ~ Michael Toran

Links 

Michael Toran on LinkedIn

Relation Insurance

CRM Dynamics

HubSpot

Salesforce

RingCentral

Microsoft 365

AMS 360

Vertafore


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Ali McCarthy

Sanjeev Kumar

Skience


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The integration of CRM with marketing technologies has been a game-changer for businesses. CRM systems are beneficial for automating and managing customer data. Combined with marketing technologies, they can create powerful customer journeys, allow businesses to understand their customers better, and develop more targeted marketing strategies. 
In this episode, Ali and Marc talk with Susan Theder, Chief Marketing and Experience Officer at FMG Suite. Susan emphasizes the importance of customer-focused strategies that leverage data and technology to deliver personalized and customized experiences. Having a passion for helping financial professionals grow and market their businesses, Susan was named CMO of the year by WealthManagement.com and a Woman to Watch by Investment News in 2019.
Susan talks with Ali and Marc about what draws her to the technology side of wealth management, the power of integrating CRM with marketing technologies, and how she leverages technology to create a personalized client experience.

Key Takeaways

[01:20] - An overview of Susan's professional career.

[04:21] - What draws Susan to the technology side of wealth management.

[05:33] - How Susan went from a regulated organization to an unregulated one.

[06:38] - What attracted Susan to join FMG Suite.

[08:57] - How Susan helps advisors stay current on technology.

[12:55] - Susan's favorite thing about working for FMG.

[14:17] - How Susan creates a personalized client experience.

[18:51] - The power of integrating CRM with marketing technologies.

[19:42] - The future of FMG's marketing strategy.


Quotes
[04:28] - "The ability to facilitate advisors' day-to-day lives and make it easier for them to focus on what they do best is overused in marketing terminology, but it's true. That's what gets them into the business and helps them grow." ~ Susan Theder
[14:00] - "Bringing somebody from outside the industry to bring an interesting perspective is sometimes true. But often, it's much better to walk in the shoes of the customer and the people you're serving, especially in our very nuanced and small industry." ~ Susan Theder
[20:18] - "There is a place for AI in marketing technology in terms of personalization. But AI is not going to drive that complete client experience because authenticity is something that cannot be automated." ~ Susan Theder

Links 

Susan Theder on LinkedIn

Susan Theder on Twitter

FMG Suite

Fidelity Investments

Pershing

Cetera

Advisor Group

Valerie Brown

AIG

Vestorly

FiComm Partners

Megan Carpenter

Samantha Russell

Robert Kirk

InterGen Data


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Ali McCarthy

Marc Butler

Skience


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