WealthTech on Deck

Comfort is the enemy of progress, especially in business. Adapting to new models and driving change is frightening, due to fear and risk of failure. Some industries are better than others at embracing disruption, but the insurance industry often needs to catch up. When systems are working well enough, not everyone sees value in taking a different approach. Change may be uneasy, but it also brings the possibility to improve, grow, and advance.This week, Jack talks with David Lau, Founder and Chief Executive Officer of DPL Financial Partners about disrupting the insurance industry. David has been an innovator for every business he has built, with extensive experience dating back to his role as the Chief Marketing Officer of E*Trade Bank, and its predecessor TeleBank. David has been at the forefront of developing products, platforms, and distribution systems that allow RIAs to implement commission-free annuities into their clients’ portfolios.In this episode, David talks to Jack about how DPL drives change in the insurance industry by offering commission-free annuities. They discuss how annuities can enhance outcomes, which mistakes financial advisors should avoid with their clients, and where David sees the industry going.Key Takeaways [01:36] - An introduction to David. [05:53] - What does DPL Financial Partners do? [08:23] - The powerful combination of technology and human interaction. [10:38] - How annuities can enhance outcomes.  [14:39] - An exciting project David is working on. [19:28] - Why retirees seek stability. [23:27] - David’s predictions for the future of the industry. [27:17] - How David spends his time outside of work. Quotes[04:48] - “It's easy to become beholden to your existing distribution, but anybody could see that the way the world was going and continues to go, is away from commissions and towards fees.” ~ David Lau[09:14] - “The ultimate value proposition we're delivering to an RIA is we're giving you the ability to grow. We're gonna help you bring in held-away assets. We're going to help you get more wallet share. We're gonna help you attract new customers.” ~ David Lau[14:28] - “We’re solving problems, not selling products.” ~ David LauLinks David Lau | LinkedIn DPL Financial Partners Nationwide Advisory Solutions  Alex Murguia Wade Pfau E*Trade Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

Satisfied customers are the foundation of any successful business. Keeping customers satisfied means that every interaction must be positive, from the first contact to closing a deal. Positive client experiences build loyalty and retention, while negative client experiences damage a company’s reputation. By prioritizing the client experience, companies differentiate themselves in a crowded marketplace. This week, Jack talks with Douglas Fritz, Founder and CEO of F2 Strategy. With experience in improving financial outcomes for clients and advisors, Doug has led F2 Strategy's outsourced CTO business model and strategy consulting services. Notably, he was awarded the 2021 ThinkAdvisor Thought Leader Luminary Award for his contributions to the field. In this episode, Doug talks to Jack about the significance of decision-making and strategy in establishing and sustaining a successful, unique client experience. They discuss what inspired Doug to create F2, how to avoid a disjointed client journey, and Doug’s predictions for the future of the wealthtech industry. Key Takeaways [01:23] - Doug’s background and the formation of F2. [03:37] - The role of decision-making in F2’s strategy. [09:19] - Connecting trends and products in wealth and technology. [13:36] - How to enhance the client journey. [16:50] - Why clients choose to work with you. [19:18] - The power of strategy. [21:15] - Doug’s predictions for F2 and the wealthtech industry. [27:08] - Doug’s key takeaways. [28:33] - How Doug spends his time outside of work. Quotes[04:07] - “Really good decisions start with knowing yourself, knowing who you are as a firm, and what your strengths are.” ~ Douglas Fritz[19:48] - “Depending on where you are in the firm, what you believe is broken is almost always different.” ~ Douglas Fritz[27:29] - “If you're not already thinking about or bringing your data together and really building a useful set of owned data, your future is based on that. If you plan to be in business in 10 years, you’ve got to start working on that right now.” ~ Douglas FritzLinks Douglas Fritz on LinkedIn F2 Strategy ChatGPT Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

In today's competitive business landscape, it feels daunting and nearly impossible to gain the attention of prospects. Everyone is selling something, and potential clients are inundated with marketing messaging that all blurs together. It’s no longer enough to have a website, write a blog post, or have a social media presence. How can you stand out in the sea of sameness? Mike Saunders, President and CEO of Marketing Huddle is committed to positioning his clients as authorities in the financial services industry to gain their trust and credibility organically. Far too often, salespeople push too hard for a sale and end up losing prospects in the process. By becoming an educator and advocate in your target audience’s industry, you establish authority with your clients and stand out against your competitors.In this episode, Mike talks to Jack about how to amplify your marketing message, elevate trust, and gain credibility with advisor clients. Key Takeaways [01:51] - How Mike helps his advisor clients differentiate themselves. [05:52] - How to amplify a firm’s message. [11:25] - How to establish authority and credibility. [14:08] - How Mike teaches and implements authority positioning. [17:27] - How Mike helps advisors build trust. [19:53] - Where Mike envisions the industry going. [21:48] - Mike’s key takeaways. [22:51] - Mike’s passions outside of work. Quotes[08:35] - When we become an educator and an advocate for our target audience, trust is increased because they see you as that expert, not as some pushy salesperson.” ~ Mike Saunders[12:25] - “People like to buy, but they don’t like to be sold.” ~ Mike Saunders[18:28] - “It takes five to seven to 10 times more money to get a new client than to maintain your current clients. So with all of this marketing and authority positioning and increased trust, don't forget your clients that you currently have because those clients already gave you their level of trust at a certain time. You have to maintain that.” ~ Mike SaundersLinks  Mike Saunders, MBA | LinkedIn The Medium is the Message: Marshall McLuhan, Quentin Fiore: Amazon.com: Books The Partnership Economy: How Modern Businesses Find New Customers, Grow Revenue, and Deliver Exceptional Experiences Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

ChatGPT may have recently taken the world by storm, but artificial intelligence is not new. AI’s greatest strength has always been its ability to personalize information in seconds. With the advancement and accessibility of technology, these AI solutions have become popularized, even in the financial services sector. Vinay Nair is the Founder, Chairman, and CEO of TIFIN, a company that makes investing engaging by using investment intelligence, data science, and technology. With TIFIN, Vinay hopes to manifest the future at a faster pace and build a collaborative experience between humans and AI.In this episode, Vinay talks with Jack about how TIFIN is disrupting wealth tech, Vinay’s predictions for the industry’s future, and the importance of innovation even in times of financial hardship.  Key Takeaways [01:30] - An introduction to Vinay’s background. [03:00] - Vinay’s role at TIFIN. [04:53] - What is “tech debt”?  [06:17] - An overview of TIFIN’s point solutions. [09:16] - How to build a problem-solving product with AI. [14:23] - What is holistic wellness? [17:27] - Where does Vinay see the industry going from here? [20:14] - Opportunities in the insurance and annuity space. [22:45] - Vinay’s key takeaways. [25:49] - How Vinay spends his time when he’s not working. Quotes[03:54] - “We believe we are helping the future manifest at a faster pace.” ~ Vinay Nair[22:31] - “I think a lot of what we are talking about at the end of the day will be a human-AI collaborative experience.” ~ Vinay Nair[22:55] - “I think we are in a fascinating phase of innovation. If you're running a business, it's sometimes tough to allocate capital to innovation, especially in moments when you feel like you have to survive. But that's a little bit like cutting down on internet spending in 2001 if you want to build a longer-term business. So the ability to reallocate to innovation from other things is going to be a key differentiator of firms that thrive and firms that don't.” ~ Vinay NairLinks  Vinay Nair on LinkedIn TIFIN 55ip J.P. Morgan Ness Card Morgan Stanley Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

With economic uncertainty on the horizon, employees are feeling more anxious than ever about job stability, inflation, and their retirement plans. It wasn’t too long ago that employees had the upper hand during the Great Resignation, but it seems as though the power dynamic has shifted out of employees’ favor. Jacquelyn Reardon, Head of Client Experience for Retirement, Insurance, 529, and Wealth Management at Franklin Templeton, reveals recent research on how the American worker is being affected by the economy, including their overall well-being, their desire for holistic guidance, and their desire for personalized retirement solutions.In this episode, Jacquelyn talks with Jack about how the current economic climate affects American workers, their retirement plans, and the expectation of support from their employers. Key Takeaways [01:24] - What is the Voice of the American Worker Research Study? [05:52] - How the current economic climate is accelerating financial stress. [09:03] - The concept of well-being in the workplace – physical, mental, financial.  [11:02] - How the current economic climate affects American workers’ retirement plans. [14:54] - Why American workers are seeking holistic advice and guidance. [18:08] - The timeline of the American Worker Research Study. [22:08] - How personalized solutions will be provided to American workers. [25:09] - Current innovations in the retirement space. [28:03] - Jacquelyn’s key takeaways. Quotes[10:17] - “I think sometimes it's just as simple as acknowledging that people are going through stress versus trying to pretend like that's a different part of your life.” ~ Jacquelyn Reardon [22:40] - “For us, personalization is really taking into account what your individual goals are, and then how do we manage to those goals versus managing to the wider range of other things that you could manage to: volatility, market happenings, etc. Let's really think about your goals first and foremost.” ~ Jacquelyn Reardon  [28:30] – “We really have to, as an industry, embrace people holistically and think about our solutions, not just in one bucket. So, it can't just be about retirement. It has to be how do we fully support folks across the full spectrum of needs so that we can improve all areas of well-being.” ~ Jacquelyn Reardon  Links  Jacquelyn Reardon LinkedIn Voice of the American Worker Survey | Franklin Templeton Franklin Templeton J.P. Morgan Morgan Stanley AdvisorEngine Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

The COVID-19 pandemic changed the way we think about everything - the way we work, the way we interact, the way we approach safety, healthcare, and even grocery shopping. COVID-19 forced many people to reflect on the state of their finances and underscored the importance of planning for unforeseen circumstances. The ability to lean on trusted financial advisors proved to be more crucial than ever. In this episode, Jack Sharry, LifeYield's EVP, Chief Growth Officer, takes the spotlight and is joined by Matt Nollman, VP of Marketing, as host. Jack shares what investors should focus on when faced with uncertainty and why human connection is vital even in a digital world. COVID-19 showed us that the unknown could and will happen, whether it’s an unexpected medical bill or a global pandemic. Jack speaks with Matt about what COVID-19 taught us three years later: why purpose, control, human connecting, and comprehensive wealth management matter.Key Takeaways [02:14] - An overview of lessons learned from COVID. [04:06] - Why financial planning matters. [06:30] - What is the purpose of your wealth? [09:09] - What investors should focus on in uncertain times. [12:07] - Why people prefer humans over bots.  [15:20] - Why clients need a comprehensive wealth management approach. [18:35] - How is this quarter different? [20:44] - Jack’s key takeaways. Quotes[09:32] - “Taxes are the most considerable and controllable expense in retirement.” ~ Jack Sharry[13:03] - “Everyone I speak with agrees: financial advisors won't be replaced with AI or robots. Yes, they'll be enhanced by those capabilities, but they won't be replaced.” ~ Jack Sharry[21:10] - “Managing assets, liabilities, and life decisions in a comprehensive way, matters.” ~ Jack SharryLinks  Merrill Lynch J.P. Morgan Wells Fargo Wells Fargo Introduces LifeSync®, A Digital Platform to Help Clients More Easily Plan and Track Their Money NYU Stern Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Matt Nollman on LinkedIn Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

As financial services advance, people increasingly use digital tools and platforms to manage their finances. While these tools can be highly effective, they may not always align with the person's values and aspirations. How can people utilize new technologies and platforms while ensuring that their financial decisions align with their values and aspirations rather than simply following algorithms or generic advice?In this episode, Jack talks with Michael Liersch, Head of Advice & Planning for Wealth and Investment Management at Wells Fargo. In his role, Michael is responsible for developing and propagating research-based methods to help advisors and clients productively collaborate around their money decisions. Before joining Wells Fargo, Michael held executive roles in companies such as JPMorgan Chase, Merrill Lynch, and Barclay's Wealth Americas, where he developed a deep understanding of people and money and how to help advisors provide clients with a better experience.With a mission of helping people make better money decisions, Michael speaks to Jack about LifeSync, the new tool he and his team have developed that leads the way to a compelling future for the advice experience.Key Takeaways [02:01] - What Wells Fargo's LifeSync is all about. [09:32] - The inspiration behind LifeSync's foundation. [15:52] - How LifeSync works. [21:23] - How the many changes in the way things are going are wearing people out. [24:17] - How LifeSync facilitates human collaboration. [29:06] - LifeSync's approach to money management. [34:04] - How LifeSync makes sophistication and complexity work together. [36:22] - Michael's three key takeaways. Quotes[12:02] - "People don't tell their advisors as much as they want to about their purpose for their money, whether it's their work life or family, but they are much more willing to give personal information to their mobile devices. And that was the inspiration behind LifeSync." ~ Michael Liersch[28:31] - "LifeSync creates a much more fluid and normalized way of talking about money. That's where we want to take this — normalizing money conversation and the connection between money and meaning." ~ Michael Liersch[30:51] - "Clients put their money where the value and experience give them the most. It's not about account aggregation and asset location. It's about putting everything together and the value of the advice provided." ~ Michael LierschLinks  Michael Liersch on LinkedIn Wells Fargo LifeSync eMoney Advisor John Thiel Merrill Lynch Ken Dychtwald Riley Etheridge Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

A startling 6.6% of Fortune 500 companies have women as their CEOs and only 23% of C-Suites are made up of women. Such statistics show that gender bias is prevalent despite increased traction and awareness around diversity, equity, and inclusion. While progress is slow, thankfully, it is not stagnant. Many businesses receive questions about the lack of diversity within their organization and what they are doing to fix it. In this episode, Jack speaks with three wealthtech legends: Noreen Beaman, Vice Chair Board of Directors at Orion Advisor Solutions, Lori Hardwick, Board Director at Cetera, Orion, and Cerity Partners and Board Chair at Vestwell and Docupace, and Cheryl Nash, Chief Executive Officer of Financial Supermarket at InvestCloud. The three discuss important themes that have led to their professional wins: embracing challenges, trusting your instinct, working hard, and surrounding yourself with a strong support system.Lori, Cheryl, and Noreen talk with Jack about the evolution of their careers, their advice for women in wealthtech, and their thoughts on where the industry is headed.Key Takeaways [02:47] - An introduction to Lori Hardwick. [04:01] - An introduction to Noreen Beaman. [05:39] - An introduction to Cheryl Nash. [07:43] -  The evolution of Noreen’s career.  [10:02] - How taking chances benefitted Cheryl’s career. [12:03] - An overview of Lori’s career. [15:10] - Cheryl’s advice for women in wealthtech. [17:02] - Lori’s professional pearls of wisdom. [19:15] - Noreen’s sage words for women in wealthtech. [24:31] - The importance of building your network to solve problems.  [27:20] - Lori’s view of the future of the business. [28:47] - Cheryl’s thoughts on the potential of the wealthtech industry. [30:18] - Noreen’s view on the innovation and digitization of wealthtech.  [32:34] - Cheryl’s key takeaway: find a support system. [33:20] - Lori’s key takeaway: be brave. [34:21] - Noreen’s key takeaway: be resilient. [35:21] - How Lori spends her time outside of work. [36:22] - How Noreen spends her time outside of work.  [37:48] - How Cheryl spends her time outside of work. Quotes[09:15] - “You need to take chances and try different things. It doesn’t mean you’ll always be successful at them, but without having those experiences, you will not really be able to move along in your career like you need to.” ~ Noreen Beaman[16:01] - “What gets measured really gets done. You should ask that your firms are measuring diversity, not just gender, and that you reward those who take it seriously and do the right things to keep women and diverse candidates and grow them.” ~ Cheryl Nash[33:24] - “I had someone tell me just a couple months ago, ‘you wrote your own story.  You didn't let anybody else be the author of your story.’ I really appreciated that and I want to make sure I encourage other women and men to do that as well.” ~ Lori HardwickLinks  Lori Hardwick Cheryl Nash Noreen Beaman Orion Advisor Solutions Docupace InvestCloud Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

Technology is an agent of innovation and a driver of the digital world, where everything is smarter, searchable, and instantaneous. Gone are the days when you had to sift through hundreds of papers in a briefcase, send off important documents in the mail, or find contact information using a Rolodex. We typically think of digital natives as the main adopters of tech, but tech enthusiasts can be found in any age group.Rod Sayegh, Head of Digital Strategy at Fiduciary Trust International, has seen this technological adoption first-hand with some of his ultra-high-net-worth individual (UHNWI) clients, who average 66 years old. In the past, clients received their financial data annually or quarterly, but they now have the power to view their information in real time whenever they log into their client portal. Rod recognizes that financial services err on the side of caution when it comes to change. Still, he remains passionate about improving client experiences and always strives to challenge the norms.In this episode, Rod talks with Jack about making the user experience attractive to all ages, bringing tactile experiences to clients’ finances, and embracing change by “reveling in the crazy.”Key Takeaways [01:18] - An introduction to Fiduciary Trust International. [03:28] - Rod’s career journey. [06:56] - Factors Rod considers before taking on a new role. [09:29] - What excites Rod about digital strategy. [10:10]  - The importance of “adaption” - adoption and adaptability. [12:48] - Bridging the gap for clients who aren’t tech-savvy. [13:17] - Misconceptions about older people and technology. [17:40] - Using FOMO to your advantage. [20:06] - Different ways to connect to a client. [21:33] - What is Punks & Pinstripes? [24:01] - Rod’s key takeaways. [24:40] - Rod’s hobbies outside of work. Quotes[09:41] - “Clients come to us for advice, not the amount of paper we hand them during a quarterly meeting. They come to us to help solve problems, and I believe that digital technology has made some of the complex issues that clients deal with in their finances a lot more tactile.”  ~ Rod Sayegh[12:50] - “We have to give options to everyone. And I'm not expecting 100% adoption in any way, shape, or form from advisors or clients. I try to challenge and give credible challenge to anyone who pushes back.” ~ Rod Sayegh[17:20] - “We are creatures of adoption.” ~ Rod SayeghLinks  Rod Sayegh on LinkedIn Fiduciary Trust International Franklin Templeton Punks & Pinstripes Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

Technology has been changing the way we do business for years, and its impact will continue to affect our business outcomes as tech gets smarter. Still, no matter how good tech gets, human connectivity is irreplaceable in building a strong business. The combination of tech and human connectivity can be doubly powerful when executed properly. Enter Halo Investing, a platform that provides access to protective investment solutions that sits at the intersection of human connectivity and tech. Jack talks with Joanna Kanakis, Executive Vice President and Head of Institutional Business Development at Halo Investing. Joanna recounts her experience joining Halo as one of their earliest hires and leaving her investment banking job to transform the way Americans can invest. She speaks about the benefits that financial advisors experience using Halo’s platform, strategic partnership initiatives that have expanded the business, and the role of field engagement in building trusting relationships.In this episode, Joanna talks with Jack about what drew her to Halo Investing’s team, how to embrace the power of technology, and where Halo Investing is going in the future. Key Takeaways [01:10] - An introduction to Halo Investing. [04:39] - Joanna’s origin story. [09:37] - How Halo Investing entered the annuity product space. [14:14] - How Halo Investing is applied in portfolio construction. [15:59] - How financial advisors get the most out of Halo Investing. [16:56] - How field engagement propels Halo’s success and conversion rate. [17:35] - Halo Investing’s strategic partnership strategy. [19:30] - Where Halo Investing is going next. [22:03] - Joanna’s key takeaways.  [24:49] - Joanna’s hobbies outside of work. Quotes[22:49] - “I truly believe that the wealth firms that survive this explosion of innovation in the wealth management ecosystem will be those that have solved the tech Rubik's cube the most efficiently.” ~ Joanna Kanakis[23:21] - “There are solutions that are available and out in the ecosystem where you can be managing your client fears, still exposed to equities, but have that level of protection and safety on the downside.” ~ Joanna Kanakis[24:13] - “This is an absolutely critical time of rejuvenation, rebirth, and innovation in this space, and it is thrilling to be here.” ~ Joanna KanakisLinks  Joanna Kanakis on LinkedIn Biju Kulathakal on LinkedIn Halo Investing Halo Investing on LinkedIn Future Proof Riskalyze Wealth Management Edge Societe Generale Charles Schwab Citi J.P. Morgan Morgan Stanley Global Atlantic Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook