142 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
    • 4.8 • 16 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.

    The Growth Formula for Wealth Management Firms with Craig Clark

    The Growth Formula for Wealth Management Firms with Craig Clark

    The future of wealth management involves embracing technology and adopting scalable business practices. Having a growth platform that enhances client satisfaction, retains and attracts clients, streamlines processes, and stays compliant helps advisors and wealth management firms succeed.
    In this episode, Jack talks with Craig Clark, Chief Marketing Officer at Nitrogen (formerly known as Riskalyze). In this role, Craig leads the firm's brand team, product positioning, thought leadership, and sales pipeline creation in the wealth management marketplace. A marketing and sales development veteran of the SaaS industry, he has seen success putting companies on a strong growth trajectory, aligning brands and positioning for successful financing and strategic exits.
    Craig talks with Jack about the company's rebranding from Riskalyze to Nitrogen, and how Nitrogen focuses on providing a growth platform for wealth management firms. Craig highlights the importance of having scalable and repeatable business practices that allow advisors to be more productive and effective, and the need for firms to adopt software that supports their growth goals.

    Key Takeaways

    [00:54] - Backstory of Nitrogen and the company’s rebrand.

    [09:16] - Craig's background and how he got into wealth management.

    [11:56] - What's next for Nitrogen.

    [15:06] - The dynamics between marketing, product, and operation.

    [16:52] - The growth formula for wealth management firms.

    [21:25] - How wealth management can prepare for future growth.

    [23:17] - Craig's three key takeaways.

    [24:26] - Craig's interests outside of work.


    Quotes
    [13:27] - "For investors to invest fearlessly, they need human advice." ~ Craig Clark
    [21:47] - "There's a lot of industry consolidation happening. And there's a lot of pressure to do things in a more predictable and repeatable way. There's no way to do that other than having software embedded in how you work to enforce that repeatable practice." ~ Craig Clark
    [23:28] - "Whether you've just started an RIA, you've broken away, or you're the head of wealth management, everybody's going to be watching you develop and adopt scalable and repeatable business practices. So, look for your technology vendors to help you do that. Look for ways to get adoption from your advisors to follow those processes because that is going to define the successful firms over the next decade." ~ Craig Clark

    Links 

    Craig Clark on LinkedIn

    Nitrogen Wealth

    Aaron Klein

    Laurie Schultz

    Lexicon Branding

    David Placek

    Dan Zitting

    Salesforce

    Fearless Investing Summit

    Justin Boatman


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    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 27 min
    Modern Marketing Strategies for Financial Services with Kelly Waltrich

    Modern Marketing Strategies for Financial Services with Kelly Waltrich

    With digital disruptions and shifting customer expectations defining the financial landscape, achieving sustainable growth demands a strategic approach that transcends traditional marketing tactics. For forward-thinking financial services firms, the challenge lies in creating a framework that seamlessly integrates marketing and growth strategies, prioritizing brand differentiation and customer-centric value creation.
    In this episode, Jack talks with Kelly Waltrich, Co-Founder & CEO of Intention.ly. For years, Kelly has been championing the role of marketing in the financial services industry. She designed the strategy behind several successful rebrands, acquisitions, and product launches, including spearheading the development of two advisor marketing products while creating unmatched overall brand visibility and helping to turn company executives into industry thought leaders. Through forward-thinking demand generation, PR, and product marketing, Kelly created a consistent inbound pipeline for both firms, driving CAC down and SOV up.
    Kelly talks with Jack about modern marketing and growth strategies in the financial services industry. She shares how Intention.ly helps firms build growth engines and differentiate themselves in a crowded market. Kelly emphasizes the need for firms to have a strong brand and messaging that resonates with their target audience.

    Key Takeaways

    [01:09] - Kelly’s role in the financial services industry.

    [02:52] - Kelly's growth strategy.

    [04:52] - How Kelly got started in financial services.

    [08:30] - The importance of understanding the nuances of the industry.

    [10:02] - What Intention.ly is currently working on.

    [11:42] - Marketing in its truest sense.

    [15:17] - How Kelly and her team deliver quality services consistently.

    [16:54] - Kelly's three key takeaways.

    [22:20] - Kelly's life outside of work.


    Quotes
    [11:53] - "Everybody thinks marketing is sexy and creative. But at the end of the day, it's taking complex things and trying to make them simple." ~ Kelly Waltrich
    [16:58] - "Because we live in this loud, noisy, content-crazy world, your brand has never been more important. People need to understand the experience they will get when they read about or see you." ~ Kelly Waltrich
    [19:54] - "Marketing is something that you have to put time, energy, and emotion into, and you have to be willing to do it consistently. You have to be willing to invest in it, whether money, resources, or people." ~ Kelly Waltrich

    Links 

    Kelly Waltrich on LinkedIn

    Kelly Waltrich on Twitter

    Intention.ly

    eMoney Advisor

    Orion Advisor Solutions

    Eric Clarke


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    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 25 min
    A Practical Approach to Innovation with Michael Liersch

    A Practical Approach to Innovation with Michael Liersch

    The wealth management industry is synonymous with high-touch, personalized service. Clients and advisors seek intuitive tools, seamless experiences, and a clear roadmap to achieving their financial aspirations. While keeping pace with client expectations and market demands requires constant innovation, some may envision grand, disruptive technologies. However, it's the simple and practical innovations that often have the most transformative impact.
    In this episode, Jack talks with Michael Liersch, Head of Advice & Planning at Wells Fargo. In this role, Michael leads a team that delivers comprehensive planning services and growth strategies. Before joining Wells Fargo, Michael held leadership positions in companies such as JPMorgan Chase, Merrill Lynch, and Barclays Wealth. He was also a faculty member at New York University, where he taught management and organizational analysis.
    A real champion and maker of innovation, Michael talks with Jack about the practical approach to innovation and improving the advisor, client, and consumer experience. He shares insights into the development of LifeSync, a practical and user-friendly tool that allows clients to articulate their financial goals and track their progress. Michael also discusses the importance of simplicity and authenticity in innovation and the challenges and obstacles faced in the process.

    Key Takeaways

    [02:54] - LifeSync and its core features.

    [07:32] - LifeSync's practical use of data.

    [09:40] - Michael's motivation for creating practical innovations.

    [15:03] - How to build trust in the advisory space.

    [17:37] - The obstacles to innovation.

    [21:14] - What's next for LifeSync and Wells Fargo.


    Quotes
    [11:57] - "People didn't want this notion of, 'Well, there are three simple ways to get rich. There are three simple ways to invest. There are three simple ways to save.' What they wanted was to be very authentic." ~ Michael Liersch
    [15:07] - "Trust is built via listening. But not only reflecting on what you hear, it's also doing something about it." ~ Michael Liersch
    [19:08] - "Often, you think of innovation as this big disruptive moment. Well, real innovation is bite-sized incremental change." ~ Michael Liersch

    Links 

    Michael Liersch on LinkedIn

    Wells Fargo

    NYU Stern

    Merrill Lynch

    J.P. Morgan

    The NextChapter Innovative Summit


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    Jack Sharry on LinkedIn

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    • 26 min
    The Dynamics of Innovation in Wealth Management Technology with Reed Colley

    The Dynamics of Innovation in Wealth Management Technology with Reed Colley

    Driven by technological advancements and evolving client expectations, the industry is witnessing a shift from traditional methods to a data-driven, tech-fueled future. At the heart of this evolution lies the development of robust wealth operating systems and platforms that empower advisors with holistic financial insights, streamline workflows, and personalize client experiences.
    In this episode, Jack talks with Reed Colley, Co-Founder & CEO at Summit Wealth Systems. With years of experience in the wealth management technology industry, Reed has a proven track record of innovation and disruption. He has founded, invested in, and advised multiple technology companies, including Black Diamond Performance Reporting, which revolutionized advisor operations and is now part of SS&C Advent. Reed's passion lies in helping advisors and their clients by creating innovative solutions that enhance the client experience and streamline internal processes.
    Reed talks with Jack about the importance of understanding the needs of advisors and their clients, the process of turning ideas into tangible solutions, and the role of innovation in driving better client experiences. He also highlights the value of listening to advisors and digging deeper to solve their pain points, ultimately creating a platform that combines digital and human advice to empower advisors and enhance client outcomes.

    Key Takeaways

    [01:41] - The creation of Black Diamond and Summit Wealth Systems.

    [04:26] - Reed's motivation for developing innovative systems.

    [07:56] - The power of listening and asking the right question.

    [10:59] - Connecting clients' wealth with their values.

    [13:30] - Overcoming obstacles and using them as fuel for innovation.

    [16:59] - The importance of being nimble and agile in building systems for advisors.

    [20:37] - How Summit Wealth Systems provides human and digital advice.


    Quotes
    [05:52] - "Advisors are happiest when they can efficiently help their clients solve things they need. That's when the best advisors are most fulfilled." ~ Reed Colley
    [21:17] - "When you have an efficient, appropriate technology foundation that interfaces well with the humans inside the organization and then delivers the right outcomes for your clients, that is absolutely the mix needed for understanding what a modern practice looks like." ~ Reed Colley
    [22:05] - "The robo advisor has a place and will continue to evolve. But it will not replace what a human advisor does for a client. It's all about empowering, and that's what we love doing. We love using technology to empower humans." ~ Reed Colley

    Links 

    Reed Colley on LinkedIn

    Reed Colley on Twitter

    Summit Wealth

    Black Diamond Wealth Platform

    Anthony Sperling


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    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 26 min
    The Difference Between Hyper-Personalization and Digitization with Nalika Nanayakkara

    The Difference Between Hyper-Personalization and Digitization with Nalika Nanayakkara

    The financial industry, anchored in data and figures, can sometimes overlook the fundamental truth that clients are emotional beings. Regardless of how carefully crafted wealth portfolios, diverse investments, and comprehensive plans for estates or retirement are, their effectiveness hinges on what the client values most.
    In this episode, Jack talks with Nalika Nanayakkara, Managing Partner for the Americas Financial Services Operations at EY. In her role, Nalika leads the wealth and asset management (WAM) consulting business for EY in the U.S. She is also responsible for the EY financial services consulting organization and the execution of their NextWave strategy. 
    Nalika talks to Jack about the difference between hyper-personalization and digitization in wealth management. She goes deeper into the importance of listening and understanding clients' personal needs and values. She also discusses the concept of money scripts and how they shape financial decisions. Nalika highlights the significance of trust, marrying financial planning with purpose, and incorporating emotional needs into segmentation models.

    Key Takeaways

    [01:51] - The difference between hyper-personalization and digitization.

    [04:41] - Money scripts and the unconscious biases towards money.

    [09:15] - Integrating emotional understanding in client interactions.

    [14:16] - The importance of understanding what matters to clients.

    [18:25] - Why advisors need to connect with clients personally.

    [21:55] - Key recommendations for creating personal client experience.

    [24:09] - The power of listening and understanding in financial services.

    [27:23] - Nalika's interests outside of work.


    Quotes
    [02:53] - "Our industry is very numbers focused. We talk about portfolio returns and the probability of meeting a financial plan. Money, particularly wealth, is highly personal. But financial services are highly impersonal." ~ Nalika Nanayakkara
    [09:47] - "Don't expect your clients to always be rational. You can have the most comprehensive wealth offer that's priced fairly, investments, estate, or retirement. But it's only as good as your client's willingness to consume it." ~ Nalika Nanayakkara 
    [19:21] - "If you want to be successful as an advisor, you have to make that human connection. To do that, you have to really care about what matters to the person." ~ Nalika Nanayakkara

    Links 

    Nalika Nanayakkara on LinkedIn

    NextChapter

    Steve Gresham

    EY

    Dr. Brad Klontz

    Riley Etheridge


    Capital Group 

    Merrill Lynch

    John Thiel

    Authentic and Ethical Persuasion


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    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    • 30 min
    Making Investing Simple and Accessible with Bill Capuzzi

    Making Investing Simple and Accessible with Bill Capuzzi

    Investing is not an exclusive club for the affluent but a pathway open to all, regardless of age or economic background. As an industry, the responsibility lies not only in managing portfolios but also in educating, simplifying, and making investing accessible to all.
    In this episode, Jack talks with Bill Capuzzi, CEO of Apex Fintech Solutions and Partner at PEAK6 Investments. Bill has been in trading, clearing, custody, and the finance industry for years. He is proud to run a company that offers digital clearing and custody solutions to fintech disrupters, global banks, RIAs and other advisory firms, online trading platforms, community banks, and credit unions. Bill has been leading Apex in revolutionizing the industry and making investing accessible to everyone.
    Bill talks with Jack about how Apex is disrupting wealth management technology. He emphasizes the company's mission to help everyone invest in their future. Bill also speaks about the convergence of digital and human advice, the importance of lowering barriers to entry in the advisory world, and the role of workplace solutions in transforming the industry.

    Key Takeaways

    [02:03] - Bill's mission to change the world with Apex.

    [03:48] - Bill's background and how he got into fintech.

    [06:47] - Transition from Pershing to founding Apex.

    [08:52] - What Apex offers to investors.

    [13:39] - The opportunity for advisors to expand to a mass affluent market.

    [20:08] - Workplace and wealth management convergence.

    [27:13] - Challenges facing wealth management.

    [32:02] - Bill's final thoughts.

    [33:22] - Bill's interests outside of work.


    Quotes
    [24:15] - "As an industry, we need to do a better job of educating people, especially those who don't have a lot of money." ~ Bill Capuzzi  
    [29:58] - "If we don't lean in to create better interoperability, that convergence, you're ending up with an incomplete solution." ~ Bill Capuzzi
    [32:53] - "We're helping people invest in their future, whether they're young or old. There's a ton of people out there that need us to do our jobs better than we've been doing." ~ Bill Capuzzi

    Links 

    Bill Capuzzi on LinkedIn

    Apex Fintech Solutions

    BNY Mellon's Pershing X

    PEAK6

    eToro

    SoFi

    Stash

    Tiburon Strategic Advisors

    Chip Roame

    Morgan Stanley

    ETrade

    Fidelity Investments

    Icon Savings Plan

    Laurie Rowley

    Edward Jones

    Franklin Templeton

    Empower

    Vanguard

    Vestwell

    Reed Colley

    Summit Wealth

    Michael Kitces

    Orion Advisor Solutions

    Envestnet


    Connect with our hosts

    LifeYield

    Jack Sharry on LinkedIn

    Jack Sharry on Twitter


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    Facebook

    • 36 min

Customer Reviews

4.8 out of 5
16 Ratings

16 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.

Jonathan Michael (Wealth I/O) ,

Super BASIC content on “AI Revolution in Wealth Management”

This episode felt like it was recorded in December of 2022. There are so many significant AI changes since the last 6-7 months and none of that was covered. Instead there was some average chit-chat about the importance of summarisation and workflow tools. There was also a mention about privacy concerns using AI tools like ChatGPT. That was solved by Open AI 2 weeks ago with ChatGPT Enterprise - they have a SOC2 compliant enterprise offering that organizations can use to integrate with.


Here are some massive “AI Revolution” topics that were not talked about:

1) Open Source AI models like LlaMa2 Vs Closed source (Open AI, Anthropic etc.) - what does this mean for Wealth Management firms? And what is the better alternative for the wealth management use-case?

2) How will conversational AI shape the future of WealthTech and AdvisorTech? With the rapid adoption of natural language interfaces like ChatGPT what will the future interface of the WealthTech world look like? Can conversational AI streamline Advisor tech adoption?

3) How will AI transform a clunky, slow and manual compliance process?

4) Should FINRA and the SEC consider an AI oversight council?

5) Will generative AI catapult the world more into a future dominated by robo-advisors?

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!

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