WealthTech on Deck Turning AI Pilots into Enterprise Wins with Rob Pettman
This week, Jack Sharry talks with Rob Pettman, President of TIFIN. Rob brings more than 20 years of leadership experience across wealth management, investment platforms, and financial technology. Before joining TIFIN, Rob served as Executive Vice President of Wealth Management Solutions at LPL Financial, where he oversaw the firm's investment product distribution, retirement business, advisory platforms, and research organization, managing over $70B in AUM. During his 19-year tenure, he helped lead LPL through its rapid growth to $1.4T in assets and more than 22,000 advisors.
Jack and Rob talk about how AI is changing the way wealth and asset management firms grow and operate. Rob also shares how TIFIN uses AI to improve the overall growth of these businesses and how those who embrace AI as a growth engine are reaping the benefits through organic client growth, advisor enablement, and enhanced decision-making.
In this episode:
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(00:00) - Intro
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(01:49) - How advisory firms can use AI to their advantage
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(04:22) - Strategic use cases for AI
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(06:03) - The evolving results of AI implementation
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(08:37) - How TIFIN uses AI for wealth and asset managers
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(14:47) - The process of refining AI capabilities
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(16:47) - The current state and future outlook for AI adoption
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(20:12) - The characteristics of firms leading in AI adoption
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(22:17) - Rob's key takeaways
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(24:23) - Rob's interests outside of work
Quotes
"Just doing AI for better experiences doesn't create commercial value. And so actually having these specific problems to solve with the intended outcome in mind is really where it's at." - Rob Pettman
"Traversing multiple systems in financial services or wealth management is still a problem. There are solutions for this now where AI can actually straddle all of these disparate systems and put together a holistic view of the client relationship, the portfolio, and how they are doing relative to the plan." ~ Rob Pettman
"Some of the firms that are furthest ahead have the ability to operate with speed. They try to minimize distributed decision-making and have an accountability mindset that enables decisions to actually occur faster." ~ Rob Pettman
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In 2024, SEI made a strategic investment in TIFIN.