The Legends of WealthTech with Roger Paradiso

Sep 26, 2023

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Innovation has been a critical driver of progress in wealth management. As a result, various innovative investment strategies have emerged and been adopted. These vehicles offer customization, transparency, and flexibility, giving investors more control over their portfolios and aligning investments with their unique financial objectives.

In this episode, Jack talks with a legend in wealthtech, Roger Paradiso, Global Head of Product Solutions at Franklin Templeton and Executive Chairman of O'Shaughnessy Asset Management. With every merger, acquisition, and sale in the past 30 years, Roger has seen problems and changes as opportunities. In 2014, Roger was bestowed the Money Management Institute's Advisory Solutions Pioneer Award, and in 2016, the All-Star Achiever Award.

An advisory solutions industry leader with expertise in innovation, transformation, business enhancement, and strategy, Roger talks to Jack about how he created the concept of multiple-discipline accounts, commonly known as MDAs. Roger also shares how he moved the industry from mutual funds to separately managed accounts (SMAs) to multiple-discipline accounts (MDAs) to unified managed accounts (UMAs) and beyond.

Key Takeaways

[01:59] - Roger’s impact in developing separately managed accounts (SMAs).
[09:05] - The evolution of the multiple-discipline account (MDA).
[13:08] - How Roger's multiple-discipline account gained significant traction.
[19:15] - The transition from separately managed accounts to multi-discipline and unified managed accounts.
[23:50] - The creation of unified managed accounts (UMAs).
[29:01] - Franklin Templeton's efforts to fuel wealth management growth.
[34:27] - Roger's take on the future of wealth management.
[37:07] - Roger's three key takeaways from the conversation.
[38:57] - Surprising facts about Roger.

Quotes

[05:11] - "I remember, at the time, all the information was on the one hard drive of one computer. The problem they had was because all this information was on one hard drive, all the information was incorrect over time. They were not getting good information in, and thus they had bad information going out." ~ Roger Paradiso

[28:00] - "Franklin Templeton is now thinking about using technologies through acquisitions, deals, partnerships, or building ways we can continue to progress what the asset management industry looks like in the future." ~ Roger Paradiso

[38:13] - "If you hire the smartest, brightest people around you in every job function, you're going to continue to win and support everyone because it's all about the people." ~ Roger Paradiso

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