WealthTech on Deck 2024 Year-End Wrap-Up: The Dawning of UMH
This week, WealthTech on Deck producer Matt Nollman takes over hosting duties to interview Jack Sharry about the podcast’s standout moments of 2024. They discuss the evolution and future of UMH, including the transformative impact of LifeYield’s recent acquisition by SEI. Jack highlights pivotal industry conversations with leaders advancing UMH capabilities, explores strategies for overcoming implementation challenges, and emphasizes the importance of innovation for financial advisors and firms. Jack also shares key career advice that has shaped his professional journey.
In this episode:
- (00:19) - Year-end wrap-up and review
- (00:58) - The dawning of UMH
- (03:10) - Defining UMH and its importance
- (04:41) - Key elements of UMH
- (07:43) - UMA vs UMH
- (09:15) - Memorable episodes from 2024
- (13:25) - AI, research, and the digital frontier
- (15:01) - Building multi-account UMH capabilities
- (19:05) - Career advice and closing thoughts
Quotes
“Through this acquisition, SEI will be the first in the industry to provide real-time, automated, unified managed household or UMH capabilities in a cost-effective, fully bundled overlay solution.” ~ Jack Sharry
“The single biggest challenge we find is getting all the departments, all the silos to work together. And that is also why it is important to have a single executive sponsor or leader.” ~ Jack Sharry
“Improving after-tax returns and income is inherently a multi-account exercise.” ~ Jack Sharry
Links
- SEI: https://www.seic.com
- Morgan Stanley: https://www.morganstanley.com
- MoneyGuide Pro: https://www.moneyguidepro.com
- Tifin: https://tifin.com
- Wells Fargo: https://www.wellsfargo.com
- EY: https://www.ey.com
- Franklin Templeton: https://www.franklintempleton.com
- Matt Nollman: https://www.linkedin.com/in/mattnollman
- Mark Hoffman: https://www.linkedin.com/in/mark-hoffman-16946359
- Martin Cowley: https://www.linkedin.com/in/martincowley
- WealthTech in the Weeds with Charles Smith: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-charles-smith
- WealthTech in the Weeds with Rose Palazzo: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-rose-palazzo-and-mark-hoffman
- WealthTech in the Weeds with Jeff Benfield: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-jeff-benfield-and-martin-cowley
- WealthTech in the Weeds with Eric Lori: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-eric-lordi-and-martin-cowley
- WealthTech in the Weeds with Roger Paradiso: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-roger-paradiso
- The Evolution and Resurgence of SEI with Ryan Hicke and Sean Denham: https://wealthtechondeck.com/episodes/the-evolution-and-resurgence-of-sei-with-ryan-hicke-and-sean-denham
- The Age of the New Wealth Portfolio with Erich Holland: https://wealthtechondeck.com/episodes/the-age-of-the-new-wealth-portfolio-with-erich-holland
- Unlocking the Potential of Generative AI in Asset and Wealth Management with Amy Young: https://wealthtechondeck.com/episodes/unlocking-the-potential-of-generative-ai-in-asset-and-wealth-management-with-amy-young
- Unlocking AI’s Potential in Wealth Management with Rob Pettman: https://wealthtechondeck.com/episodes/unlocking-ais-potential-in-wealth-management-with-rob-pettman
- WealthTech in the Weeds with Michael Liersch: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-michael-liersch-and-harry-bartle
- Scott Smith: https://www.linkedin.com/in/scott-smith-148360
- Financial Advisor Magazine: https://www.fa-mag.com
- Frances Frei: https://www.linkedin.com/in/francesfrei
- Edward Jones: https://www.edwardjones.com
- JP Morgan: https://www.jpmorgan.com
- Merrill: https://www.ml.com
- Harvard Business School: https://www.hbs.edu
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