Alternative Universe Bridging the Technology Gap and Enhancing the Investor Experience with Jud Mackrill
Episode 001: Wealth management plans can often seem disconnected, creating complexity for firms and confusion for clients. In this episode of Alternative Universe, Mammoth CRO Steve Zuschin and Milemarker Co-Founder Jud Mackrill talk about these complexities and how technology can be the bridge firms and clients need.
Having worked with Orion, Carson, and other asset managers, Jud discusses his entrepreneurial journey and his dedication to solving problems within the wealth management industry. He shares his views on how the investment process could be improved, focusing on streamlining the experience for both investors and advisors, emphasizing the necessity of maintaining a strong “why” amidst the “how”.
Steve and Jud also discuss how Mammoth helps to stitch everything together, providing a uniform experience for both the investor and the advisor.
Join us as we discuss:
[00:38] - Introducing Alternative Universe.
[03:02] - Jud’s background in wealth management and challenges in integrating technology.
[09:58] - Improving user experience in private markets.
[17:26] - Simplifying SPVs for venture investments.
[23:14] - The importance of being a bridge-builder in wealth management.
[26:56] - How technology can be the “connective tissue” for clients.
Key Takeaways
- Alternative investments have transformative potential for clients.
- Advisors should be empathetic and strive to introduce innovative solutions for onboarding and managing private investments.
- The methods for handling private investments are outdated, and there is vast potential for technology to enhance the investor experience.
- It’s critical to understand the role of SPVs in private investments, and the need for modernization and a user-friendly client experience for long-term LPs.
- Be aware of the challenges financial advisors face in offering alternative investments to their clients and strive to understand the "why" behind these investments.
- Aim to be a bridge-builder, and recognize how alternative investments can act as connectors for clients and aid them in achieving their goals.
- Always prioritize what is best for clients, even if it requires additional work.
Quotes
“The right thing always is a little harder, I think. Our goal is to help you do the very best thing for your clients, at scale, in a way that it feels honestly delightful. I love that we are bridge-builders.” ~ Jud Mackrill
“I've always believed that an advisor is there for a really great reason and they should be knitting together the conversation. If they're truly a fiduciary, a super-trained expert working on behalf of the client, they should be there guiding them.” ~ Jud Mackrill
“How do we help advisors truly integrate all these alternative opportunities? The client is going to invest in them with or without their advisor, but the advisor as a fiduciary should be there to help make sure it's the best thing possible.” ~ Jud Mackrill
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Disclosure
All content on this podcast is for informational purposes of a general nature only, and does not address any particular individual or investment. Nothing in this podcast constitutes accounting, legal, tax, financial or other professional advice. The discussion on this podcast of any entity, product or service does not imply an endorsement thereof, and the podcast participants may have a financial interest, whether through investment or otherwise, in one or more of any such entities, products or services. Please seek independent advice from a financial professional about your investment needs.