69 episodes

WealthTech on Deck is a show featuring meaningful conversations with financial services leaders. Our host, Jack Sharry, engages financial services executives that are solving specific challenges around fintech ecosystems and household wealth technology.

WealthTech on Deck LifeYield

    • Business
    • 4.9 • 11 Ratings

WealthTech on Deck is a show featuring meaningful conversations with financial services leaders. Our host, Jack Sharry, engages financial services executives that are solving specific challenges around fintech ecosystems and household wealth technology.

    Creating Solutions That Help Advisors Compete and Succeed with Natalie Wolfsen

    Creating Solutions That Help Advisors Compete and Succeed with Natalie Wolfsen

    Advisors are constantly looking for ways to best serve their clients. However, with the fast-paced and ever-changing landscape of the industry, it can be difficult to keep up.  Advisors are expected to deliver the highest level of client experience while growing their business and managing time-consuming tasks.
    In this episode, Jack talks with Natalie Wolfsen, Chief Executive Officer at AssetMark. Prior to AssetMark, Natalie held product management and marketing roles in firms such as First Eagle Investment Management, Pershing, Charles Schwab, and American Express. She took the reins at AssetMark a year ago and has spearheaded the company’s strategic direction, which encompasses its platform of curated investment and technology solutions, business consulting and operations support, and strategic acquisitions that serve the best interests of financial advisors and their investors.
    Natalie talks with Jack about what AssetMark offers advisors, how asset management and planning are integrated into its distribution model, and why outsourcing is key to helping advisors serve their clients better.

    Key Takeaways

    [01:11] - What AssetMark is and how Natalie plays a key role in the business.

    [03:14] - What Natalie finds exciting about the future of wealth management.

    [05:39] - AssetMark's approach to personalizing its products and services.

    [07:33] - How their acquisition of Voyant has enabled clients to achieve financial wellness.

    [11:33] - What makes Voyant a popular wealth management software provider.

    [13:22] - How AssetMark integrates asset management and planning into its distribution model.

    [16:08] - How planning and proposals are translated into the portfolio.

    [18:48] - What AssetMark's distribution model looks like.

    [23:05] - Why outsourcing is key to helping advisors serve their clients better.

    [27:48] - Natalie’s three main takeaways.

    [28:49] - What Natalie enjoys doing outside of work.


    Quotes
    [04:08] - "In the pandemic, we all became much more reliant on technology. And also, the benefits of technology became so clear to so many for the first time. As a result, demands for advice and technology have changed. And one important way it's changed is personalization." - Natalie Wolfsen
    [08:15] - "From my perspective, what financial wellness ultimately does is it brings together the goals, dreams, and aspirations that live in a financial plan with the investments that advisors and their clients make to bring that financial plan to life." - Natalie Wolfsen
    [14:11] - "Financial wellness is the combination of ongoing communications between the advisor, their clients, goal setting, goal management, risk management, and investments." - Natalie Wolfsen
    [20:16] - "One of the reasons that AssetMark advisors grow so quickly and at the heart of that is a concept of outsourcing. If you outsource your investment management, if you outsource your technology, or if you outsource key parts of your operational processes, your number of clients grows, your revenue grows, your profitability grows as does your client satisfaction and your own quality of life." - Natalie Wolfsen

    Links 

    Natalie Wolfsen on LinkedIn

    AssetMark

    First Eagle Investment Management

    Pershing

    Charles Schwab

    Voyant


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    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 32 min
    Diversity and Inclusion in Wealth Management with Craig Pfeiffer

    Diversity and Inclusion in Wealth Management with Craig Pfeiffer

    As the demographics of investors continue to change, the wealth management industry is starting to pay attention to inclusion and diversity. Many firms hire, prepare, and advance underrepresented talents throughout the financial services industry and create programs to best serve an increasingly diverse clientele. This positive trend leads to more equitable and representative services for all investors.
    In this episode, Jack talks with Craig Pfeiffer, President and CEO of Money Management Institute (MMI). Craig is a senior financial services executive, following 29 years with Morgan Stanley Smith Barney and its predecessor firms. He transitioned from MSSB in 2012, where he was Vice Chairman and a member of the Executive Committee. From 2003 to 2011, he held a progression of senior positions, including the National Sales Group, responsible for marketing strategy and client communications, desktop technology, and brokerage-based banking. Additionally, Craig has been responsible for businesses, including retirement services and corporate equity solutions.
    Craig talks with Jack about his current projects and programs, why diversity and inclusion are becoming an area of focus in wealth management, and his outlook on where wealth management is headed in the future.

    Key Takeaways

    [01:08] - What Money Management Institute offers in the investment advisory industry.

    [03:11] - A list of Craig's current projects and programs.

    [08:31] - Wealth management as a people's business.

    [11:02] - Craig's outlook on where wealth management is headed.

    [15:48] - What Craig looks forward to over the next few years.

    [20:01] -The history of MMI's innovation in wealth management.

    [24:29] - Craig's three key takeaways.

    [26:08] - Craig's interests outside of work.


    Quotes
    [03:54] - "For the last number of years, there have been challenges around dealing with accumulated wealth and retirement assets, not only the income but doing so smartly around taxes, risk around location, etc." - Craig Pfeiffer
    [07:04] - "We have to go outside our industry, find people of color, and bring them into middle-level jobs. Fill out that sophomore, junior class, so the freshmen have an aspiration." - Craig Pfeiffer
    [22:06] - "There was no opponent to the SMA business other than a lack of awareness. You can't come to an MMI event without putting your gun down. You're coming to share best practices. You're coming to share ideas. You're coming to learn. And people have had that structural fiber that allows people to enjoy it." - Craig Pfeiffer
    [25:36] - "Being a leader in this business is rewarding. But you're only a leader if you have followers, and followers will only follow if they think they're listened to." - Craig Pfeiffer

    Links 

    Craig Pfeiffer on LinkedIn

    Money Management Institute

    Steve Gresham

    The Execution Project

    Cheryl Nash

    InvestCloud

    Financial Advisor Magazine

    BlackRock

    Jed Finn

    Morgan Stanley

    Jenny Johnson

    Jasmine Jirele

    Franklin Templeton

    Allianz Life

    Burt White

    LPL Financial

    Carson Group

    Envestnet

    Ainslie Simmonds

    Pershing


    Michael Liersch 

    Wells Fargo

    Microsoft

    PwC

    University of Virginia Darden School of Business

    Keith Glenfield

    Bank of America

    Troy Thornton

    Goldman Sachs


    Connect with our hosts

    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 28 min
    Why Americans Are Re-Evaluating Work with Jacquelyn Reardon

    Why Americans Are Re-Evaluating Work with Jacquelyn Reardon

    In a recent study by Franklin Templeton, U.S. workers are re-evaluating their relationship with their employers and the benefits they receive at work. The study found that workers are increasingly interested in non-traditional benefits and the need across the full spectrum of financial resources. 
    In this episode, Jack talks with Jacquelyn Reardon, Head of Retirement & Insurance Marketing at Franklin Templeton. In her role, Jacquelyn manages a team of marketing specialists to implement strategies for distribution channels associated with U.S. retirement and insurance businesses.  She also deploys resources that drive marketing results while reinforcing process best practices, developing talent, and managing the budget.
    Jacquelyn talks with Jack about Franklin Templeton's Voice of the American Worker survey, its outcome, and how the company responded to its results.

    Key Takeaways

    [00:51] - Jacquelyn's role at Franklin Templeton.

    [01:43] - What the Voice of the American Worker survey is about.

    [03:35] - The four key takeaways from the Voice of the American Worker study.

    [04:40] - Why American workers are re-evaluating their work and expectations of employers.

    [09:47] - How workers are focusing more on financial independence than traditional retirement.

    [12:51] - What respondents think about hyper-personalization.

    [14:56] - Workplace as the lobby for wealth management.

    [16:12] - Why workers seek to improve their financial wellbeing.

    [18:58] - A need for financial health improvement.

    [22:25] - How Franklin Templeton responded to the survey results.

    [24:50] - Jacquelyn's three key takeaways from the research on American workers.

    [25:59] - What interests Jacquelyn outside of work.

     
    Quotes
    [06:16] - "Fifty-five percent of people have said it's not just that they've left or considered leaving, but seeing other colleagues consider leaving or leaving has made them reassess what they want from employers." - Jacquelyn Reardon
    [18:13] - "Seventy-six percent of people, as it relates to student loan debt, said that they would've made different educational choices if they had realized how much debt they would get into." - Jacquelyn Reardon
    [20:30] - "There's an opportunity for employers to take that holistic view of wellbeing and put some incentives and resources in place." - Jacquelyn Reardon

    Links 

    Jacquelyn Reardon on LinkedIn

    Franklin Templeton

    Morgan Stanley

    Goldman Sachs

    Jenny Johnson

    Tiburon Strategic Advisors


    Connect with our hosts

    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 27 min
    Enhancing Business Growth Through Strategic Partnerships with Mark Spina

    Enhancing Business Growth Through Strategic Partnerships with Mark Spina

    Strategic partnerships between businesses can be a powerful way to enhance growth and achieve goals that would be difficult to attain independently. By forming mutually beneficial relationships with asset managers and professionals, wealth management businesses can gain access to new ideas, strategies, and technology platforms, enabling them to focus on what they do best: providing high-quality service to their clients.
    In today’s episode, Jack talks with Mark Spina, Chief Operating Officer and President at FLX Networks.  Mark has over two decades of experience managing sales, national accounts, product, data, and marketing teams around the globe. His current responsibilities include developing and delivering cost-effective solutions to FLX members. 
    Mark talks with Jack about FLX Networks' approach to helping asset managers and management firms scale their businesses, how having a network can be leveraged to build capabilities that resonate across the community, and how technology plays a crucial role in enabling their business model.

    Key Takeaways

    [00:51] - How Mark got his start at FLX Networks.

    [04:41] - How Mark works with asset managers and management firms.

    [11:46] - FLX Networks' growth over time.

    [16:55] - The company's approach to helping asset managers and advisors grow their businesses.

    [19:32] - How FLX Networks enables advisors to deliver products and services effectively.

    [21:15] - What role digital technology plays in the company’s business model.

    [25:42] - Mark's top three key takeaways.

    [27:49] - What interests Mark outside of work.


    Quotes
    [07:30] - "It's kind of amazing when you think about how modern all other sales engagements have become. Most of the selling experiences, it's better targeted. There's more data flowing into it. You can be more precise. But at the point of sale, it still looks and feels very similar to the way it did 30 years ago." - Mark Spina 
    [19:42] - "Being in the network of networks, we are able to source a combination of componentry. We are able to source practice management capabilities from external providers. We've built in-house capabilities in some of the areas that we think resonate across that community." - Mark Spina
    [26:00] - "In a business and industry that requires scale to succeed, managers have to think about how they can creatively and collaboratively create that scale. And it's unlikely for the vast majority of asset managers to be able to create the requisite scale by themselves." - Mark Spina
    [27:02] - "The concept of wholesaling products has to evolve in the next three to five years. It has to look more like everything else that an advisor or person does in their day-to-day life of buying and selling product." - Mark Spina

    Links 

    Mark Spina on LinkedIn

    FLX Networks

    Brian Moran

    SEAL Family Foundation


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    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 30 min
    Effectively Running a Models-Based Practice with Robert Pettman

    Effectively Running a Models-Based Practice with Robert Pettman

    Leading a financial advisory firm is a challenge. The goal is to provide sound and objective financial planning advice to clients but to do so profitably and at scale is an uphill battle. 
    In today’s episode, Jack talks with Robert Pettman, EVP, Wealth Management Solutions at LPL Financial. Robert is responsible for leading the advisory and brokerage platforms, investment products, and relationships with asset managers, insurance companies, and wealth tech providers. In addition to his role, he also heads the research department, a new component that is essential to a comprehensive wealth management strategy.
    Robert talks with Jack about LPL Financial's spectrum of products, solutions, and opportunities, how they enable advisors to run a models-based practice more efficiently and effectively, and what his outlook is for the future of the financial advisory business.

    Key Takeaways

    [02:03] - How Robert got his start in the financial services industry.

    [05:53] - What LPL Financial is working on right now that Robert is excited about.

    [07:59] - How LPL Financial empowers advisors.

    [13:31] - How Robert handles the many tasks involved in serving advisors.

    [17:20] - Robert's outlook for the future of the financial advisory business.

    [22:55] - Robert's three key takeaways.

    [23:49] - Interesting facts about Robert.


    Quotes
    [14:18] - "It's really important to have great talent, creative and innovative, and client-centric that understands the issues, that's focused on solving problems for the clients and essentially bringing forward those ideas to actually help propel the company in doing the best that it can in serving advisors." - Robert Pettman
    [17:34] - "A product really exists as a vehicle of convenience. And it so happens that with the evolution of technology, we're actually getting to a place where that's not actually the most efficient and effective way to deliver solutions." - Robert Pettman
    [23:02] - "That theme of technology attacking the product wrapper is not something that's scary. It's something to be embraced and that can provide extra features and benefits for advisors and investors." - Robert Pettman

    Links 

    Robert Pettman on LinkedIn

    LPL Financial

    Blaze Portfolio


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    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 26 min
    Tax-Efficient Strategies for Maximizing Investor Returns with Martin Cowley

    Tax-Efficient Strategies for Maximizing Investor Returns with Martin Cowley

    Taxes are a reality for all investors. Their effects can significantly affect financial outcomes and take a big bite out of investment returns. In response, advisors look for strategies that minimize tax liabilities while maximizing returns. As tax alpha may be the holy grail for many investors, what investment strategies can they use to maximize their financial outcomes?
    In this episode, Jack talks with Martin Cowley, Executive Vice President of Product Development at LifeYield. As one of the pioneers in building UMH solutions in the industry, Martin is an expert at building platforms across the wealth management ecosystem. At LifeYield, Martin and his team focus on finding the client's unique circumstances and then determining the best way to serve them.
    Martin talks with Jack about five ways to achieve tax alpha through a comprehensive advice platform. He discusses how these strategies work and how advisors utilize them to help clients reach their financial goals.
     
    Key Takeaways

    [01:11] - An overview of Martin's key role at LifeYield.

    [05:58] - Tax harvesting as a means of improving tax alpha.

    [08:40] - How single-account management differs from coordinated multi-account management.

    [11:38] - The importance of asset allocation when it comes to taxes.

    [19:04] - How rebalancing and income generation can work together.

     [21:16] - What asset allocation and rebalancing can do for income sourcing.

    [28:53] - Martin's three key takeaways.

    [31:30] - What Martin likes to do outside of work.


    Quotes
    [10:16] - "The fact that you can see multiple tax lots across more than one account gives you more room for efficiency. It gives you more tax lots to pick from." - Martin Cowley
    [17:53] - “Tax harvesting is good, it's a part of our toolkit. But asset allocation does mitigate the need for tax-loss harvesting, especially considering it dissipates over time.” - Martin Cowley
    [18:42] - "A transition from an existing set of assets over to a new model can be made a lot more efficient by putting controls on gain realization and potentially breaking up the move over a year or more depending on what works for the clients and their appetite for taxes." - Martin Cowley
    [29:07] - "Tax harvesting is well-established and it's a vulnerable exercise, but it's more valuable when you spread it across multiple accounts to the extent that you can." - Martin Cowley

    Links 

    Martin Cowley on LinkedIn

    LifeYield

    Paul Samuelson


    Connect with our hosts

    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 34 min

Customer Reviews

4.9 out of 5
11 Ratings

11 Ratings

Kahuna3456 ,

Insightful & Applicable

When you want to know and learn about a topic in client services today - economics or investor relations - the podcasts by LifeYield through Jack Sharry are the Gold Standard. Listen - learn - apply - results. Fabulous.

Irdancingfriends ,

The best wealthtech podcast out there!

If you only listen to one podcast today, make sure it’s Wealthtech On Deck. Jack Sharry’s expertise and industry experience are evident. The guests on this podcast are sure to make this an industry favorite. A truly can’t miss podcast!

WealthTech Warrior ,

The best WealthTech podcast out there

There are a lot of fintech podcasts out there, but not many that focus on wealthtech specifically. If that’s your niche, you’ve come to the right place. Each episode shows how the biggest firms are making things better for their advisors and clients with technology. As someone who looks at the future of wealthtech constantly, there’s finally a weekly resource that’s worth a listen. Subscribe with confidence.

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