Developing and Executing Platform Strategies for Wealth Management with Kabir Sethi

Nov 1, 2022

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Digital transformation is inevitable, and financial services companies have to be nimble and adapt to the changing landscape. They need to find ways to capitalize on opportunities to remain relevant. As the world ages and demographics change, client and advisor relationships continuously evolve.

In this episode, Jack talks with Kabir Sethi, Managing Director and Chief Product Officer at LPL Financial. In his role, Kabir oversees advisor and end client experience and investment solutions and platforms. He is responsible for investment, banking and lending products, research, core advisor operating platform, end investor experience, third-party and fintech partnerships, and enterprise data and analytics.

With a track record of building and growing award-winning businesses and platforms, Kabir talks with Jack about how he got his start in wealth management, his strategies for creating a better wealth management system, and what he sees as the future of wealth management.

Key Takeaways

[01:04] - An overview of Kabir's role at LPL Financial.
[02:53] - What it's like to move from a major wirehouse to a leading independent firm.
[05:57] - How Kabir got his start in wealth management.
[11:48] - Kabir's strategy for creating a better wealth management system.
[16:56] - How Kabir develops a comprehensive and personalized advice platform.
[21:08] - What Kabir sees as the future of wealth management.
[24:42] - The challenge of creating a comprehensive wealth management strategy.
[28:37] - Kabir's three key takeaways.
[30:22] - Interesting things Kabir does outside of work.

Quotes

[12:39] - "This idea of making the experience easier will always be fundamental to our industry. There is no end to the opportunities to take the friction out and find new ways to do things. There are always new ways to try and make the experiences more efficient." ~ Kabir Sethi

[21:56] - "As this country ages and demographics change, you have generations of investors who have grown up digitally. Wealth management will always be a combination of a human and digital relationship. The nature of that relationship and how that relationship gets executed is going to keep changing." ~ Kabir Sethi

[28:45] - "I believe that true success and the people who will succeed will have advisors at the center of their strategy. If you can figure out and keep working at making financial advisors successful, their clients will benefit." ~ Kabir Sethi

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