CRM Unlocked

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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Sanjeev Kumar

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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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Marc Butler

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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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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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Marc Butler

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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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Sanjeev Kumar

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The competitive landscape for advisory services has changed drastically in recent years. The development of digital tools and platforms has made it possible for businesses to be conducted remotely. This shift has resulted in a new breed of advisory services that are more flexible and agile than their traditional counterparts.
In this episode, Marc talks with Derek Notman, Certified Financial Planner and a serial entrepreneur in the financial services industry, founding Couplr and Conneqtor among other endeavors. Derek serves clients from coast to coast through his virtual model. He works with entrepreneurs, founders, business owners, startup companies, and their families to realize their hopes, dreams, and goals through the leverage of financial education and his financial planning process.
Derek talks with Marc about how consumer expectations and demands have changed over time, how technology has changed the delivery of financial services, and how he revolutionized the lead-generation process.

Key Takeaways

[02:10] - How Derek got into the financial services industry.

[04:28] - What led Derek to establish his own advisory business.

[08:21] - Derek's approach to serving his clients.

[10:24] - Derek's advice for broker-dealers looking to become registered investment advisors.

[13:43] - What Derek's training program, Conneqtor, is about.

[16:39] - How Derek revolutionized the lead generation process.

[23:51] - What Derek did differently to find clients on social media.

[30:04] - Future trends financial advisors should be aware of.


Quotes
[12:38] - "If you look at our profession, things are going differently. Consumers want the best advisor for them, not just based on the zip code or company they're with." ~ Derek Notman
[17:36] - "It doesn't matter how great your knowledge is, your certifications, or your brand. None of the other stuff matters if you do not have actual clients and new clients coming in to work with you." ~ Derek Notman
[21:43] - "Advisors didn't get into this business to become lead generation or digital marketing experts. They came into this business to help people with their money, which they should spend most of their time on." ~ Derek Notman

Links

Derek Notman on LinkedIn

Derek Notman on Twitter

Derek Notman on Facebook

Derek Notman on YouTube

Adam Holt

New York Life Insurance

Couplr

Conneqtor

Michael Kitces

Intrepid Wealth Partners


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Ali McCarthy

Sanjeev Kumar

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It's human nature to hope for the best and avoid contemplating the worst. But in reality, no one is immune to the trials and tribulations of life. And yet, people don't plan for bad things to happen, and those who provide advice don't like to talk about them. But what if there's a way we could identify life events that might negatively impact our finances?
In this episode, Sanjeev and Ali talk with Robert Kirk, Founder and CEO at InterGen Data. Robert is a financial services industry executive with over 30 years of experience. Throughout his career, Robert has developed business-aligned solutions built around the fast-paced evolution of technology and innovation. At InterGen Data, Robert is responsible for establishing, growing, and providing proprietary AI-machine-based learning that helps companies identify when their clients are likely to have important life events occur, what they could be, and how much of a financial impact each could represent.
Knowing that a life event could have a tremendous financial impact on a person's life, Robert talks with Sanjeev and Ali about how AI-based machine learning can help banks, financial service companies, and insurance companies predict and identify when their clients are likely to have an important life event and how advisors can help clients prepare for negative events.

Key Takeaways

[01:15] - What InterGen Data is and how it helps clients.

[02:45] - The role of AI in giving users empathy-based data insights.

[07:56] - The value AI provides to companies.

[11:54] - InterGen's data management and security processes.

[15:31] - How advisors can convince clients to plan for negative events.

[22:36] - How the pandemic has changed how InterGen manages data.

[27:05] - The benefits of working with actuaries.

[30:26] - What the Digital Life Series is all about.

[34:36] - What's next for InterGen Data.


Quotes
[05:18] - "Machine learning doesn't give empathy, but it provides the data to build that context around a person where that person can interpret that and then build that empathy." ~ Robert Kirk
[16:10] - "If you look at all the financial plans and all the risk systems and tools, they're all going to say to put in X dollars. It's either a dollar-cost average or a goals-based system where you look at a goal over many years. And then they'll run the Monte Carlo scenario. But if you've ever noticed, they're always perfect. How is something bad happening built into the plan?" ~ Robert Kirk
[39:25] - "From a marketing perspective, why not have a completely digitized version where people only see what's relevant to them and their next stage of life? More importantly, the cross-sell-upsell opportunities or the understanding of the products." ~ Robert Kirk

Links

Robert Kirk on LinkedIn

Robert Kirk on Twitter

InterGen Data


Predictiv

Society of Actuaries

Digital Life Series | InterGen Data, Inc.

ForwardLane


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Client onboarding is a critical part of any business. It is the first step in building a long-term relationship with the client and sets the tone for how the firm will provide services moving forward.
In this episode, Sanjeev and Ali talk with Miles Burns, Senior Business Development Manager in Financial Services, and Patrick Meyer, Director of Wealth Management at DocuSign. DocuSign helps organizations connect and automate how they prepare, sign, act on, and manage agreements. In their roles, Miles cultivates strategic partnerships in the financial services ecosystem, while Patrick directs DocuSign's wealth management strategies.
Miles and Patrick talk with Sanjeev and Ali about the top three trends in wealth management, the challenge of delivering trusted data, and how DocuSign helps clients solve the complexity of data authentication and create a seamless onboarding process.

Key Takeaways

[01:03] - Miles and Sanjeev's top takeaways from Dreamforce 2022.

[04:24] - The top three trends Patrick sees emerging in wealth management.

[12:31] - The role of custodians in RIAs.

[14:04] - How financial firms deal with the complexity of data authentication.

[17:42] - An analogy about how custodians deliver trusted data.

[19:37] - How forms add value if custodians already manage data.

[23:00] - How financial firms adapt to the younger generation's needs.

[26:58] - How DocuSign helps clients streamline their processes.

[31:04] - What DocuSign has in store for the future.


Quotes
[05:50] - "I see wealth management trends fall into three different altitudes. You've got your strategic, tactical, and operational trends. And each one of these trends has a side of the coin." ~ Patrick Meyer
[20:38] - "Forms aren't necessarily paper anymore. It's a contract or a collection of data in a structured format and delivered via a consumable file." ~ Patrick Meyer
[24:58] - "We know what the investors want because we hear them. But we live and die by compliance, so we are limited in what we can do and how we do it. We’ve got to get creative." ~ Patrick Meyer

Links

Miles Burns on LinkedIn

Patrick Meyer on Linkedin

DocuSign

Salesforce


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As a financial advisor, the primary goal is to provide outstanding client experiences. As consumers become more sophisticated, they expect a seamless, personalized experience across all channels, including in-person, online, and mobile. How can wealth management firms integrate disparate technologies and data to create a seamless, omnichannel experience for clients and advisors?
In this episode, Ali and Sanjeev talk with Hunter Flynn, Senior Sales Director at Addepar. In their conversation, Hunter shares his broad insights on how firms utilize their CRMs to create a better wealth experience. Hunter also talks about his three areas of focus when speaking with clients, the importance of incorporating technology into workflows and processes, and the best practices he has seen among financial services companies.

Key Takeaways

[00:52] - An overview of Hunter's professional career.

[02:19] - Hunter's three areas of focus when speaking with clients.

[04:06] - How advisor experiences are evolving.

[07:46] - The importance of incorporating technology into workflows and processes.

[10:41] - Hunter's thoughts on artificial intelligence in fintech.

[17:05] - The best practices Hunter has seen among financial services companies.

[24:13] - What the future holds for Addepar.


Quotes
[09:08] - "As complexities grow, we're always going to need technology that can overlay across an organization and simplify those workflows and make people more efficient." ~ Hunter Flynn
[16:22] - "CRM is that engagement layer that allows you to create the preferences and give insight into those end clients. It's all about the data you're collecting and what you are doing with that data. If you can organize it, make sense of it, and act on it, that's where you differentiate your firm from others." ~ Hunter Flynn
[18:02] - "When organizations start to think about what that next stage and evolution looks like for their firm, they're looking for technology and partners on which they can build a resilient business and continue to innovate across every aspect of their business." ~ Hunter Flynn

Links

Hunter Flynn on LinkedIn

Addepar

Salesforce


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As technology has drastically changed the marketing landscape, so have businesses' ways of targeting customers. Marketing strategies are no longer based on mass production and reach but on targeted, personalized messages that speak to the individual. With the advent of big data, businesses can target their marketing efforts to specific demographics. What are the best practices in marketing and communication that build meaningful client connections?
In this episode, Ali McCarthy talks with Johnny Sandquist, Founder of Three Crowns Copywriting and Marketing. Johnny has been working with RIA firms and advisor technology since 2009. With a degree in English Literature, he eventually found his way back into marketing as a writer and established his own company. Today, Johnny helps companies create a brand and message that gets to the heart of what their clients care about.
Johnny talks with Ali about the best practices in marketing and client communication, how to personalize marketing, and the importance of data for creating a personalized approach to client relationships.

Key Takeaways

[01:25] - What brought Johnny to Three Crowns Copywriting and Marketing.

[04:37] - Johnny's takeaways from the cluster of industry events he attended recently.

[07:10] - How to personalize marketing.

[11:25] - Johnny's onboarding process.

[14:36] - The importance of data in identifying niches.

[21:05] - Why personalized marketing is the key to building meaningful relationships.

[22:59] - What's next for Three Crowns Copywriting and Marketing.


Quotes
[03:46] - "Marketing, at its simplest, is just communicating what you do, who you do it for, and telling stories. I'm so excited about the new testimonial rule and how that's broadening the way we can leverage marketing clients with advisors because they have such powerful stories to tell. And they're the most interesting stories." - Johnny Sandquist
[07:35] - "Personalization is about delivering high-value content relevant to an individual's experience. How you get there is through segmentation, and how you get the segmentation is through data." - Johnny Sandquist
[15:24] - "Data is so important because it gives you insights that you are subconsciously aware or unaware of. You don't have a path forward unless you just put it right in front of you." - Johnny Sandquist
[21:05] - "You can't market to someone if you don't know what's important to them. And you can't know what's important unless you can record your interactions with them and know their expectations." - Johnny Sandquist

Links

Johnny Sandquist on LinkedIn

Three Crowns Copywriting And Marketing

Orion Advisor Solutions

Jud Mackrill

Milemarker

Snappy Kraken


Colton Etherton

Lindsey Swanson

Stripper Financial Planning


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Digital transformation is not just a technology phenomenon. It is a business model and mindset shift that is revolutionizing industries and the way wealth managers operate.
As digital disruption continues to sweep through the industry, wealth managers are under pressure to quickly adopt new technologies, reinvent themselves, and find ways to offer more personalized customer experiences.
In this episode, Marc Butler is joined by industry experts at Skience Fair: Digital Trends Impacting Wealth Management Leaders. April Rudin (CEO at Rudin Group), Nitin Seth (CEO at Incedo), and Chip Kispert (Managing Partner at Beacon Strategies) share their insights on digital transformation in wealth management, how firms can optimize their operations and value proposition, and what digital trends wealth managers should pay attention to.

Key Takeaways

[01:13] - An introduction to the top industry experts in this webinar.

[07:55] - The beginnings of the digital transformation and its impact on wealth management.

[14:38] - How companies manage their data and what value they gain from it.

[17:48] - How firms are redefining their value proposition and branding in today's business environment.

[22:31] - The importance of communication in client retention.

[24:44] - Why strategy and execution need to work together.

[29:28] - Where advisory firms fall short when it comes to strategy and execution.

[37:08] - The most effective ways advisors can market themselves.

[38:35] - Who they consider to be influential disruptors in the coming years.


Quotes
[20:24] - "The way marketing has shifted is to be more client-centric. And so rather than talking about here's what I do, here's more about me, here's my technology, and all about this. It's more about solving client pain points and problems." - April Rudin
[20:54] - "Technology firms that want the enterprise to understand what they do need to make sure that they're communicating their value proposition in a way that makes sense to their buyers, not in a way that makes sense to them." - April Rudin
[27:57] - "The overall state of maturity in terms of the technology and operational infrastructure for most wealth managers is still behind the curve. It is often a password of multiple systems, multiple platforms that are trying to come together." - Nitin Seth
[31:43] - "We saw a lot of folks really go down the path of trying to automate their account opening and they got it half right." - Chip Kispert

Links

Marc Butler on LinkedIn

April Rudin on LinkedIn

Chip Kispert


Nitin Seth

The Rudin Group

Beacon Strategies

Incedo

Capgemini

Elon Musk

SpaceX

Jack Dorsey

Skience Fair: Digital Trends Impacting Wealth Management Leaders


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The digital landscape is constantly transforming the way we do business. Proper implementation doesn’t lose sight of the human touch, whether that means giving clients a more personal experience or giving advisors a better work/life balance.
In this episode, Ali and Sanjeev talk with Jon Feinstein, Relationship Manager at Skience. Throughout his career, Jon has had a ringside seat to watch CRM's impact on the industry, the people who work within it, and the clients it serves.
Jon talks with Ali and Sanjeev about how to make the digital journey smooth for firms and clients alike, what is at the foundation of a successful implementation, and barriers to success.

Key Takeaways

[02:15] - Why understanding the human element is critical in all industries.

[06:31] - How we can use technology to further our goals as advisors and bring value to those we serve.

[10:50] - What is the foundation of a CRM system.

[12:30] - How organizations can rethink their digital journey.

[15:02] - How to find value not just for the client and the organization but the industry as well.

[19:29] - How a reset can help you rediscover the intentionality of your business.

[23:12] - The biggest barrier to successful digital integration.


Quotes
[07:05] - "We want to grow assets under management. We want to grow assets under administration. We want our advisors to become more efficient. We want to grow market share. And so the point of digital transformation exercises isn’t to go digital but organizations can measure their digital maturity in part by assessing progress made into digital transformation across a few dimensions and as well as the ROI from those investments." ~ Jon Feinstein
[10:50] - "I think when you think about CRM, I think for any successful implementation, it starts with a strong foundation of data. Data is absolutely essential. The quality of the data, the cleanliness of the data, because that's really the foundation that flows into all of the systems, CRM or otherwise." ~ Jon Feinstein
[15:02] - Whether you’re a product manufacturer or a wealth management or asset management firm, or a software company, you name it, we want to create value, and we need to think of value in terms of not just the organization but what value will be derived by the industry." ~ Jon Feinstein

Links
Jon Feinstein on LinkedIn

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As technology encroaches further and further into our everyday lives, it can become a crutch that we think can solve every problem. And that can sometimes be true. But making solutions too complex isn’t the way to solve a problem.
Katie Anderson, Founder and CEO of Save Co Service, has been recognized by Forbes as one of their 30 Under 30 To Watch and is an expert in clean water, sanitation, sustainable communities, and climate action.
In this episode, Ali and Sanjeev talk with Katie about how technology can bridge gaps so we can better communicate and solve problems with those in our professional lives.

Key Takeaways

[06:01] - How we can use CRM to increase efficiency and create ease of communication while enhancing sustainability.

[08:13] - How technology can help market to customers and help employees be more productive.

[12:48] - Creating revenue by solving a problem for both yourself and your competitors.

[15:33] - Finding opportunities to take your CRM beyond your industry.

[16:57] - Changing the model and the mindsets of you and your employees from resistance to openness.

[17:56] - Using CRM and simple solutions to avoid creating a new problem when you solve an old one.

[26:10] - Finding the correct balance between the technological and the human approach.


Quotes
[12:50] - ”I replaced my problem with applications. And so for me, it was, ‘This is a great bell and whistle but does it ultimately support the efficiency and quality of what it is that I’m trying to achieve?’ And so for me, it was about bringing simplicity to a complex, fast-moving system.” ~ Katie Anderson
[16:50] - ”The most beautiful CRM is one that allows for humans to be humans, and ultimately becomes a really great assistant, and essentially stays in the basics and the simplicity.” ~ Katie Anderson

Links
Katie Anderson on LinkedIn

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Clients are at the heart of every successful business. Financial advisors know that establishing long-term relationships with clients requires providing the best possible customer experience. While technology provides many advantages for customer service, it can never take the place of human interaction.
In today’s episode, Marc talks with Adam Holt, CEO and Founder of Asset-Map Holdings and Financial Professional/Principal at RubinGoldman and Associates. In order to serve clients better, Adam realized that providing them with clarity and confidence would help in achieving their financial goals.
Today, Asset-Map is used by thousands of financial advisors across multiple currencies and languages to help families focus on what matters, make more engaged and confident decisions, and reach their financial goals.
Adam talks with Marc about why client engagement is paramount in the financial advisory industry, how the right mix of technology and human touch enables advisors to deliver advice effectively, and how Asset-Map can better serve clients in the future.

Key Takeaways

[01:01] - What inspired Adam to create Asset-Map.

[03:12] - Adam's journey to building a wealth tech company.

[06:51] - The difference between client engagement and financial planning.

[10:59] - Why Asset-Map has grown exponentially over time.

[14:51] - Why human engagement is crucial to financial planning.

[19:04] - The right mix of technology and human touch for delivering advice.

[25:08] - How Asset-Map keeps the younger generation of investors in the family.

[27:43] - What's next for Asset-Map.

[32:36] - What advice Adam can give to financial advisors.


Quotes
[1:46] - "Most of the time, we tend to deliver technical advice with a technical presentation, and consumers of financial advice are looking for clarity and confidence. When you're trying to get people to take action and serve their financial well-being, you gotta create clarity and simplicity." - Adam Holt
[20:40] - "I tend to think that the customer experiences should be very consistent and should be very catered to them. We need all these tools to drive and run our practice. When it comes to customer experience, anything that touches the customer needs your direct attention because it reflects your preeminence or your negative side of preeminence." - Adam Holt
[33:10] - "If you're an advisor thinking about adding new tech and you actually want to get a return on your investment, you have to spend more money on training and a commitment of time." - Adam Holt

Links

Adam Holt on LinkedIn

Asset-Map

Kitces

Joe Duran

Tech Compass | Asset-Map


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Marc Butler

Ali McCarthy

Sanjeev Kumar

Skience


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FinTech has revolutionized the financial services industry, both for those of us who work in it and the clients we serve. And the changes come fast and often. In our haste to adapt these tools into our firms, we can lose sight of what is at the core of our industry, our clients.
Ilan Davidovici is currently head of Client Experience at Edward Jones. Prior to that, he was with Salesforce and Deloitte. Throughout his career, he’s seen many changes, and this insight has helped him anticipate trends in the industry. But one thing remains the same; clients want a personal touch.
In this episode, Ali and Sanjeev talk with Ilan about making the most of the tools and technology available to give clients a personal experience.

Key Takeaways

[04:14] - How the client relationship has changed.

[16:31] - What clients want most at the end of the day.

[15:31] - Trends to expect in the near future.

[20:40] - What success really means for firms.

[22:40] - Overcoming fear to better utilize the tools available to us.

[25:03] - How we can judge the closeness of our client relationships.


Quotes
[03:34] - "Before we talk about what’s changed, let’s talk about what’s not changed. The human experience has never been more important. People want to have human relationships, and human relationships where they feel understood and in control. " ~Ilan Davidovici
[21:25] - "If I were to get technical in trends for the future I’d say anything that helps financial advisors take action — whether that’s integrating a product availability into CRM where the financial advisor is doing their daily work, or extending external tools to the client so they can take action on their own time and in their own way. " ~Ilan Davidovici

Links
Ilan Davidovici on LinkedIn

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Ali McCarthy

Sanjeev Kumar

Skience


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There is a lot of fear around investing, and this fear holds clients back from reaching their financial goals. If we can find ways to help them move beyond that fear, we can better help them to take control of their financial future.
In this episode, Ali and Sanjeev talk with Chris Quandt, Senior Advisor Success Coach at Riskalyze, about how we can optimize our tech stack to enhance efficiency in our practice, how doing so enhances CRM, what a risk number is, and how it connects to investing fearlessly.

Key Takeaways

[06:30] - How risk numbers help clients understand and meet financial goals.

[10:03] - Why risk numbers are a great lead generation tool.

[12:25] - Why a big part of an advisor’s job these days is relationship management.

[16:00] - How a tech stack can directly impact client relationships.

[19:58] - Why technology plays a critical role in generational wealth transfer.


Quotes
[03:50] - ”Our mission is to empower the world to invest fearlessly. A pretty big mission, but we’re excited to create those advisors to help empower that fearless investing.” ~ Chris Quandt
[14:58] - ”I’ve got a Lamborghini in my tech stack, but I don’t know where the ignition goes. Is it a push-button start, or do I put a key in the ignition?” ~ Chris Quandt
[19:56] - “Coming up here we’ve got the biggest transfer of generational wealth, so how are you tracking those family units? How are you getting in front of the heirs of your clients? Do you have a way to do that?” ~ Chris Quandt
[23:01] - ”We’re not the hero. We’re the guide. We’re the Gandolph to Frodo; we’re Glenda to Dorothy in The Wizard of Oz.” ~ Chris Quandt

Links

Chris Quandt on LinkedIn

Riskalyze


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Ali McCarthy

Sanjeev Kumar

Skience


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CRM implementation is never a one-size-fits-all process. No two organizations are alike, which is why CRM implementation can be a unique process for each one. A CRM system that works well for one business might not work well for another. What are some of the factors that need to be considered when implementing CRM?
In today’s episode Ali and Sanjeev talk with Greg Starr, Senior Vice President of Salesforce Services at Skience, an industry-leading wealth management platform that streamlines and automates time-consuming, error-prone business processes.
As a management and technology consultant for most of his career, Greg has led change initiatives for dozens of organizations. As the head of Skience's Salesforce Services division, he leads a team of professionals with expertise in management and technology consulting, Salesforce implementation, and financial services.
Greg talks with Ali and Sanjeev about Skience's Blueprint and how it helps wealth management firms, how to overcome the challenges of digital transformation, and why user experience and user value are equally important in CRM implementation.

Key Takeaways

[01:40] - Greg’s rich background in wealth management.

[02:26] - Skience Blueprint: what it is and how it helps wealth management firms.

[05:28] - Why it’s important to “crawl, walk, run”.

[08:00] - The factors to consider when planning a CRM implementation.

[12:11] - How to overcome challenges associated with digital transformation.

[18:11] - How to take human factors into consideration during digital transformation.

[20:57] - Why user experience and user value are equally important in CRM implementation.

[23:35] - Greg's favorite things to do outside of work.


Quotes
[07:08] - "Perfect is the enemy of good. Sometimes a step back can be needed before you take two steps forward. A lot of projects fail because they go too long without showing value. So, the concept behind 'crawl, walk, run' is to get the value quickly and continue to show value quickly." - Greg Starr
[17:11] - "Thinking about the process from the perspective of the user or from the perspective of the advisor and being advisor-centric is how we go about implementation. Thinking about it from an advisor-centric point of view can result in a very different solution." - Greg Starr
[18:36] - "Starting with your CRM implementation or your digital transformation at the beginning and thinking about the human element is a critical piece that often gets overlooked. I think a lot of firms think of that just in terms of training after the fact, rather than thinking about using methodologies starting from day one, assessing the impact of the change." - Greg Starr

Links

Greg Starr on LinkedIn

Salesforce

Ali McCarthy Email


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Ali McCarthy

Sanjeev Kumar

Skience


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CRMs are more than just customer databases. They're tools that help businesses manage everything from sales to marketing to customer service and support. The integration of CRM with other business systems can be a powerful tool for achieving business objectives.
In today’s episode, Paige talks with Ernest Lacroix, Senior Manager of F2 Strategy, a management consulting firm that provides boutique consulting services globally to support existing technology teams within the wealth management, family office, and RIA space.
In his role with F2 Strategy’s OCTO team, Ernest focuses on delivering outsourced CTO services to clients. As an RIA and fintech insider, he brings deep expertise in advisor-facing technologies. Whether it’s implementing new technologies, creating efficient and repeatable processes, or contemplating the digital experience for his personal clients, Ernest can easily align with the challenges facing today’s advisors.
Ernest talks with Paige about some of the most common issues companies encounter, the biggest mistakes firms make when implementing CRM, and how CRM fits into the overall roadmap of a company.

Key Takeaways

[01:33] - What F2 Strategy has to offer in the wealth technology market.

[04:15] - Some of the most common issues companies encounter.

[06:25] - How CRM fits into the overall roadmap of a company.

[08:24] - The biggest mistake firms make when implementing CRM.

[11:44] - What causes CRM to seem complex.

[15:17] - Ernest’s thought process for helping clients optimize their CRM.

[18:04] - An overview of F2 Strategy's independent research.

[23:01] - What Ernest has been doing differently during the past few months.


Quotes
[04:39] - "A lot of firms are dealing with disparate data sources. They have lots of technology in some cases that just don't talk to each other." - Ernest Lacroix
[07:54] - "Historically, CRM has always been an area of focus in all of our roadmaps as it relates to things like helping advisors, helping the firm grow, and helping the back office create operational efficiency and scale." - Ernest Lacroix
[10:45] - "What I think folks make a big mistake on is, they'll select a tool, they'll implement a tool, but they won't have a really good defined strategy as to how that tool is going to help them solve the particular problem that they looked for the CRM to solve.” - Ernie Lacroix

Links

Ernest Lacroix on LinkedIn

F2 Strategy

Salesforce


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Paige Johnson

Sanjeev Kumar

Skience


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CRM is revolutionizing the way companies operate by centralizing data management. For financial advisors, this shift presents a huge opportunity to streamline their operations and provide better service to their clients. Since managing data can be challenging, especially when it is spread across multiple systems and silos, how can businesses make sure their CRM implementation is a success?
In this episode, Sanjeev and Paige talk with Brian McLaughlin, CEO and CTO of Redtail, a leader in web-based CRM solutions for financial advisors.
Brian McLaughlin believed from the beginning that their CRM solution could satisfy an unmet need in the industry — a web-based CRM to provide advisors anytime, anywhere access to their client and calendar data. He is passionate about the solutions the company provides to its community of subscribers. Brian is also dedicated to continually improving Redtail CRM for advisors through innovation and creativity.
Brian talks with Sanjeev and Paige about the partnership between Skience and Redtail, how Redtail stands out from other CRMs, and its approach to ensuring adoption and seamless integration.

Key Takeaways

[02:32] - Why Skience and Redtail Technology are a perfect match.

[03:37] - How Brian feels about Redtail and Skience partnering.

[06:07] - How customer data and CRM strategy help maximize customer lifetime value.

[08:44] - Redtail's best practices for migrating data.

[10:06] - How Redtail stands out from other CRMs.

[11:48] - The motivation behind Brian's creation of Redtail.

[14:52] - How Redtail connects and collaborates with integration partners.

[19:56] - Redtail's approach to ensuring adoption and seamless integration of its software.

[22:20] - What CRM will look like in the future.

[30:59] - How Brian and his team adapt to the changes brought about by the pandemic.


Quotes
[10:23] - "The core mantra at Redtail is to build raving fans. And I think one of the reasons why we've got a lot of success over the years in the advisory space is really how we exhibit best behaviors and best practices around community culture." - Brian McLaughlin
[12:33] - "Find something you love, something you do every day that you just have so much passion for that you don't count the hours. And then you figure out how to make money doing it." - Brian McLaughlin
[22:49] - "The CRM to me has always been the right spot. It's the golden source of truth of your data. It's the master record." - Brian McLaughlin

Links

Brian McLaughlin on LinkedIn

Redtail Technology

Salesforce

GoldMine CRM

Act!

Speak - Redtail Technology

Michael Kitces

Morgan Stanley

Riskalyze

Aaron Klein


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Paige Johnson

Sanjeev Kumar

Skience


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CRM is a powerful tool for businesses to grow and thrive. However, if not done correctly, many of its benefits can be overlooked. How can CRM be implemented the right way in an organization?
In this episode, Paige and Sanjeev talk with Mark Nahlovsky, Vice President of Technology Solutions at ActiFi, about the importance of CRM, not only as a way of storing data, but as an operating platform for wealth management businesses.

Key Takeaways

[05:09] - Why CRM is the operating platform for your wealth management business.

[09:33] - The evolution of ActiFi into a leading provider of advisor success solutions to the financial services industry.

[13:38] - How CRM works as a pyramid process flow.

[17:27] - Why leaders are essential to the effective implementation of CRM.

[21:38] - How to implement CRM in your organization the right way.

[25:06] - What mindset makes a business successful at implementing CRM.

[31:19] - How CRM has transformed firms after a successful implementation.


Quotes
[03:52] - "Once you start solving a few problems for a client, you're allowed to solve a lot more problems. The more holistic approach, the better partner you're going to be, the longer the relationships will be. And obviously, the more value they're gonna get." - Mark Nahlovsky

[10:27] - “A lot of these vendors that made it, they succeeded because they started to build integrations with other leading FinTech solutions. They built the advisor workstation. They started to demystify the data conversion process, although it's still painful, they started to make that part of their offering." - Mark Nahlovsky

[22:31] - "There are so many great CRM partners out there - both at the vendors, through your CRM overlay, app providers, and consulting firms. We can always find you the technology talent you need. What we can't find is somebody that's empowered to translate vision and business process in the CRM workflows." - Mark Nahlovsky

Links

Mark Nalovsky on LinkedIn

ActiFi

Salesforce

Redtail


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Paige Johnson

Sanjeev Kumar

Skience


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In this episode, Paige Johnson and Sanjeev Kumar talk with Leslie Page, a business analyst at Skience.
Leslie has been in the CRM world since 1998. She started her career as a subject expert for ACT Migration, worked for Siebel, and then did proposal writing for Oracle. Leslie has witnessed how CRM has evolved and how it has made a huge difference in organizations.
Leslie talks with Paige and Sanjeev about the No. 1 killer of tech adoption, the impact of CRM and other tools in firms, and the future of CRM and predictive analytics.
[27:20] - "CRM is not meant initially to be at least sexy. You start once you have the maturity and the adoption of being able to use the predictive side so that you can guide your people. The organizations should be working on the most important things. It’s really exciting for our users—they see it as a game-changer.” ~ Leslie Page

Main Takeaways

[06:49] - A lot of firms are still stuck with manual processes. Deciding on the tech stack takes a lot more time than the implementation for some firms. They recognize the possibilities of automation, but they have a difficult time adopting it.

[10:24] - It's easy to find and introduce a solution when everything's aligned from top to bottom, and vice versa.

[15:53] - The top killers of adoption are inefficient data consolidation, disorganized organizational change management, and abrupt product implementation.

[25:07] - Effective data governance is vital. Without a single source for all systems, data inconsistencies are likely.

[26:35] - The future is bright for CRM. There will be a focus on predictive analytics, and being able to extend that valuable information to other systems.


Links

Leslie Page on LinkedIn

Skience

Siebel CRM

Salesforce

Accenture

Sales Cloud Einstein

Tableau


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Paige Johnson

Sanjeev Kumar

Skience


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In our inaugural episode, hosts Paige Johnson and Sanjeev Kumar talk with Chin Ma, President and Founder of CHRP, an AI-backed home and insurance solutions company.
Chin's financial career has centered on life insurance, commercial insurance, and sales transformation. This year, he began a new career journey to grow his newly-formed insurtech company. With the expertise on CRM and sales transformation he honed in his time with Deloitte, Chin wants to bring more value to home insurance companies with his new take on old tech.
Chin talks with Paige and Sanjeev about the adoption of CRM systems in the home insurance industry and why integrating information elevates customer experience.
(34:44) “The integration of information or insights into CRM is absolutely pivotal because if you are an insurance company, you want to deliver a revolutionary experience. You want to go to them and say, ‘Hey, we want to help you preserve the value of your home so that your life doesn't get disrupted.’” ~ Chin Ma

Key takeaways

[02:44] - Sales transformation is largely influenced by two things: the experience economy and the proliferation of channels, both human-enabled and technology-enabled. Remember, a top-notch product experience should be intuitive and a value-add.

[17:50] - Successful enterprise CRM platforms offer configurability, extensibility, and easy-to-use integrations. Companies that are constantly innovating to create a unified experience for the employees and customers continue to thrive.

[27:08] - The insurance industry has been slow in adopting CRM systems because of three pressing issues: insurance is sold and not bought, agents are relatively old in age, and sophistication in design can be daunting.

[34:45] - Integration of information with a CRM system can help home insurance companies reduce losses, help homeowners better maintain the home and preserve value, and enable an ecosystem service for the homeowners.


Links

Chin Ma

CHRP on LinkedIn

CHRP Official Website

Amazon

Tesla

Spotify

Rolodex

Oracle Siebel CRM

Vantiv

Apple

Salesforce

Agile Software Development

Bitcoin

Square

Uber

Lemonade

Hippo

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss


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Paige Johnson

Sanjeev Kumar

Skience


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