The Growth Formula for Wealth Management Firms with Craig Clark

Feb 20, 2024

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The future of wealth management involves embracing technology and adopting scalable business practices. Having a growth platform that enhances client satisfaction, retains and attracts clients, streamlines processes, and stays compliant helps advisors and wealth management firms succeed.

In this episode, Jack talks with Craig Clark, Chief Marketing Officer at Nitrogen (formerly known as Riskalyze). In this role, Craig leads the firm's brand team, product positioning, thought leadership, and sales pipeline creation in the wealth management marketplace. A marketing and sales development veteran of the SaaS industry, he has seen success putting companies on a strong growth trajectory, aligning brands and positioning for successful financing and strategic exits.

Craig talks with Jack about the company's rebranding from Riskalyze to Nitrogen, and how Nitrogen focuses on providing a growth platform for wealth management firms. Craig highlights the importance of having scalable and repeatable business practices that allow advisors to be more productive and effective, and the need for firms to adopt software that supports their growth goals.

Key Takeaways

[00:54] - Backstory of Nitrogen and the company’s rebrand.
[09:16] - Craig's background and how he got into wealth management.
[11:56] - What's next for Nitrogen.
[15:06] - The dynamics between marketing, product, and operation.
[16:52] - The growth formula for wealth management firms.
[21:25] - How wealth management can prepare for future growth.
[23:17] - Craig's three key takeaways.
[24:26] - Craig's interests outside of work.

Quotes

[13:27] - "For investors to invest fearlessly, they need human advice." ~ Craig Clark

[21:47] - "There's a lot of industry consolidation happening. And there's a lot of pressure to do things in a more predictable and repeatable way. There's no way to do that other than having software embedded in how you work to enforce that repeatable practice." ~ Craig Clark

[23:28] - "Whether you've just started an RIA, you've broken away, or you're the head of wealth management, everybody's going to be watching you develop and adopt scalable and repeatable business practices. So, look for your technology vendors to help you do that. Look for ways to get adoption from your advisors to follow those processes because that is going to define the successful firms over the next decade." ~ Craig Clark

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