Fintech Impact

Summary:In this 63rd episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host has an informative interview with Aaron Klein, CEO, and Co-Founder of Riskalyze, a risk tolerance assessment and illustration tool that helps advisors analyze the amount of risk in their client's portfolios. Aaron opens up about how Riskalyze operates, how it can benefit advisors and the importance of risk assessment in the financial industry.Time Stamped Show Notes:● 00:40: – Arron explains what Riskalyze is● 03:11: – What is the Riskalyze definition of goals-based investing● 05:00: – Why does Riskalyze put risk-centric advice at the forefront● 07:00: – The biggest risk is if the market drops a client pulls out and missed theupswing later● 08:24: – How does the “risk number” that Riskalyze created help assess risk● 12:44: – Understand how much risk clients need to reach their goals● 16:14: – What types of methods does Riskalyze use to calculate risk probability● 17:22: – Advisors need to be clear on what they are offering clients● 19:08: – Has Aaron ever been asked to testify in court● 20:54: – Riskalyze feels that their competition is a spreadsheet and gut feelings● 24:22 – Risk tolerance data shows that 52% of investors between 20-29 didn’t fitthe stereotype of being aggressive investors● 29:55: – What does the Riskalyze user experience look like● 31:44: – Riskalyze doesn’t consider themselves a financial planning company● 34:34: – Riskalyze aims to help advisors democratize their access to advice● 35:15: – What have been the biggest challenges that Riskalyze has faced● 38:52: – What gets Aaron Klein up in the morning and excited about Riskalyze3 Key Points:1. Great short-term decisions are the fuel that successful advisors to create long-termfinancial outcomes.2. Riskalyze has around 200 “Riskalyzers” serving over 20,000 financial advisors.3. Financial advisement needs to move away from feelings and into quantifiablerecommendations.Tweetable Quotes:- “Our mission is empowering the world to invest fearlessly.” – Aaron Klein.- “We are swamped with advisors calling us when markets are down.” – Aaron Klein.- “Are you selling financial products or are you selling your advice. You can’t wear bothhats.” – Aaron Klein.Resources Mentioned:● Facebook – @FintechImpact● LinkedIn – Jason Pereira● LinkedIn - Aaron Klein● Riskalyze.com – Website for Riskalyze● @AaronKlein – Twitter for Aaron Klein Hosted on Acast. See acast.com/privacy for more information.

Summary:In this 62nd episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host conducts an interview with Ian Jeffery, CEO and Co-Founder of Breathe Life, a software service platform that drives traffic to insurance carriers websites and advisors. Ian also shares how Breathe Life helps to complete direct-to-consumer sales of life insurance policies and how he addresses the advice gap in the insurance industry.Time Stamped Show Notes:● 00:42: – How can Breathe Life benefit the industry● 03:14: – What made Ian get into this business● 06:42: – What does Breath Life do for clients● 10:08: – How does Breathe Life address the advice gap● 13:41: – Breathe Life works through MGAs and carriers, not through advisors● 14:08: – What is an example of a carrier they have worked with● 15:42: – What is some of the stuff they are learning from the analytics● 18:51: – How has the feedback been on Breathe Life so far● 24:00: – If Ian had one wish for his business, what would it be● 24:38: – What has been the biggest challenge the company has had● 25:56: – What energizes Ian to keep going3 Key Points:1. Breathe Life has two paths: the advisor path and the organization path.2. Breathe Life prospects people for their clients based on keyword selection andmarketing effort.3. Develop your own deep niches.Tweetable Quotes:- “70% of our sales on the direct-to-consumer platform are on mobile.” – Ian Jeffery.- “Every advisor can have their own personally-brand page.” – Ian Jeffery.- “Technology should be an enabler of what this industry has been doing, not adisrupter.” – Ian Jeffery.Resources Mentioned:● Fintech Impact – Jason Pereira’s Facebook● LinkedIn – Jason Pereira’s● LinkedIn - Ian Jeffrey● @ianmtl – Twitter for Ian Jeffrey● BreatheLife.com – Website for Breathe Life Hosted on Acast. See acast.com/privacy for more information.

Summary:In this 61th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host conducts an interview with Scott Huff, the CEO of YourEfolio, an estate planning software platform to assist financial advisors facilitate the transfer of assets. Scott Huff shares his background in financial services and how it steered him in the direction of establishing YourEfolio, a company he has been active with now since March 2015.Show Notes:● 01:03: – YourEfolio is a premium estate planning software that benefits advisors,clients, and attorneys● 01:46: – Being a financial planner since 2001 is what pushed Scott into YourEfolio● 03:08: – How does YourEfolio interact their advisors and their clients● 04:32: – What is the service doing for clients online● 09:57: – Estate planning is a relationship business that has an effect on legacies● 10:32: – What has been the feedback from financial advisors● 12:14: – What is the value proposition of YourEfolio● 14:45: – How have lawyers been responding to YourEfolio● 16:35: – Yourefolio helps attorneys create and edit documents electronically tosave time● 20:01: – Clients are getting more educated and understand the costs involved intechnology● 22:22: – The market is a means to an end, not the means itself● 23:34: – What is the price point on YourEfolio● 24:40: – What types are integrations have been built into the software● 26:34: – If Scott could change one thing in the industry, what would it be● 27:04: – What has been the biggest challenge that Scott has faced when buildingYourEfolio● 28:16: – What keeps Scott Huff excited and motivated3 Key Points:1. YourEfolio settles estates from the tangible asset side as well as on the digital assetexposure end.2. The gamification module is a confidential survey given to client family members tounderstand what things mean the most to who.3. It’s a losing proposition to not evolve.Tweetable Quotes:- “Our system is professional-driven, it’s client driven.” – Scott Huff.- “The most challenging aspect of estate planning is knowing where everything is at,and what they have.” – Scott Huff.- “There are two reason you buy software, it streamlines your practice or it makes you money. We hope to make you money. Obviously, streamline your practice is part of it. But we want you to get ROI on it.” – Scott Huff.Resources Mentioned:● Facebook – @fintechimpactpodcast● LinkedIn – Jason Pereira’s LinkedIn● YourEfolio – Website for YourEfolio ● LinkedIn – Scott Huff’s LinkedIn Hosted on Acast. See acast.com/privacy for more information.

Summary:Host Jason Pereira interviews Dave Faulkner, CEO of Razorplan. The two discuss RazorPlan’s easy but comprehensive financial planning system, and Faulkner provides details about its background, development, and benefits. The two also share ideas on the future of financial planning.Show Notes:● 0:15 - Plan Plus Global Financial Planning Award - Pereira highly suggests competing● 1:10 - Introduction of Dave Faulkner● 1:20 - RazorPlan is a comprehensive but simple financial planning system● 2:00 - Faulkner gives some historical background● 4:50 - RazorPlan focuses on cash flow at retirement and goals-based prior to retirement.● 5:10 - Faulkner explains why he appreciates the ties between insurance and investments● 6:05 - Start with the retirement plan● 7:00 - The two agree that there needs to be some governance on financial planning● 10:00 - One thing is often missing from a financial plan - minimum rate of return required to meet your goal● 12:00 - What should be done with excess capital?● 13:35 - When developing a financial plan, start with the 20% high value client information● 15:35 - Faulkner explains the basic four variables to financial planning● 21:50 - He describes the chart screens on the RazorPlan site● 23:17 - The software is designed to foster conversation that can help with the planning.● 24:33 - Each strategy that’s ever been developed falls into one of six strategies● 31:33 - What’s important to the client should drive all planning● 33:25 - Faulkner wishes that every financial advisor would do a proper financial analysis● 35:05 - He describes the biggest difficulties in starting his company● 41:30 - The joke about insurance APIs● 43:30 - The two discuss potential future systems and ideas such as variable life insurance● 45:55 - The fact that more and more advisors are focusing on advice over products gets Faulkner excited● 51:10 - Financial management is the one area that needs a lot of improvement3 Key Points:1. In financial planning, start with the retirement plan and then plan out from there.2. There needs to be much more governance in the financial planning industry.3. Start with the client’s information and build a plan that works for them.Tweetable Quotes:- “Cash flow at retirement. Goals-based prior to retirement.” - Faulkner- “The easiest way to the life insurance sale is through the retirement plan.” - Faulkner- “20 percent of the client’s information produces 80 percent of the financial analysis. Andso, that’s where you start. Just capture the 20 percent high value information.” - FaulknerResources Mentioned:● https://www.planplusawards.com/● http://razorplan.com/ Hosted on Acast. See acast.com/privacy for more information.

Summary:Host Jason Pereira interviews the leadership team of Four Eyes Financial, a data discovery tool used by brokers and dealers to help gather information and transform their businesses from transaction based to relationship based. The group discusses their integrative approach, dynamic tools, customization, and future plans in the industry.Show Notes:● 0:55 - Introduction and background of Four Eyes Financial● 2:35 - Transactional vs. transformational approach● 3:55 - The process of the tool● 6:11 - The advisor aspect of the process● 7:15 - Still rolling out the tool, but have discovered two issues● 8:22 - A new way to approaching the client portal● 9:27 - Still working out details about ownership● 12:10 - The group explains the transparency of accounts● 13:30 - They explain the dynamic tools that clients can use on their sites● 14:58 - How they layer solutions● 17:18 - Integration vs. innovation. Staying one step ahead of competition.● 19:07 - Their biggest shock entering the industry was the “dirty” data● 20:30 - The various views of the platform● 22:15 - Focused on independent dealers● 24:19 - The degree of customization● 27:20 - Future plans for the tool● 30:55 - The consultative approach is new for this field● 32:42 - Their ultimate goal is to help people feel understood● 33:30 - The ability to scale up● 34:44 - The team discusses what they would change in the industry● 36:58 - They discuss the biggest challenges and talk about “being first” vs. “being right”● 40:01 - The group talks about archaic technology● 43:40 - They explain what gets them each excited about their business3 Key Points:1. This is a dynamic new tool that takes a transformational approach.2. Integration is more important than innovation.3. Making sure everything “right” is much more important than being “first”.Tweetable Quotes:- “Risk is important and performance is important but how those two things combine toaffect me achieving my goals is really what’s most important.”- “You only need to be one step ahead. What is key is not being the most innovative butbeing the most integratable.”- “We don’t believe in keeping a custom-build for each client. Our framework is our framework. We push the same framework out to everybody. Everyone gets the same toolset and you choose which ones you want to turn on.”Resources Mentioned:● http://foureyesfinancial.com/ Hosted on Acast. See acast.com/privacy for more information.

Cascades Financial Solutions Inc. Summary:Host Jason Pereira interviews Jonathan Kestle, an Advisor with Casades Financial Solutions Inc. which is a company specifically focused on financial accumulation and retirement income calculation. Kestle explains why the Cascades’ software has been and will be extremely helpful for the retiring population.Show Notes:● 0:38 - Introduction of Cascades Financial Solutions - a retirement income calculator● 1:54 - Kestle explains the history of the company and his background working there● 5:30 - He talks about how to use the Cascades software● 8:10 - He explains why strategy matters● 10:10 - People often forget about the estate tax● 10:55 - Kestle explains why best practices need to be adjusted to meet current needs● 13:00 - As the boomer generation starts retiring, Kestle wants to make the Cascades software readily available● 14:06 - Kestle describes the output of the Cascades software● 17:05 - Cascades provides a chart explaining which money comes from which account● 18:30 - Kestle talks about how this process can be counterintuitive and scary● 19:50 - The vast majority of retiring Canadians aren’t getting the proper advice● 20:33 - Times are changing in the world of financial and tax advice● 22:07 - Kestle explains that he can make changes alongside clients and show immediate results● 23:20 - Kestle wishes that his industry had a more formal mentorship program● 23:46 - He describes the largest challenge to the process of growing his business● 24:48 - He talks about what gets him excited about his company and future steps3 Key Points:1. Cascades Financial Solutions focuses specifically on income calculations for retirement.2. Timing and strategy really matters when it comes to retirement financial planning.3. Many retiring citizens are not getting solid advice, and Cascades wants to provide this advice.Tweetable Quotes:- “Usually you solve for the maximum income first...and then you can go back in and solvefor the level income.” - Jon- “Life cannot be summed up by rules of thumb.” - Jason- “Best practices are great, but best practices change.” - JonResources Mentioned:● www.cascadesfs.com Hosted on Acast. See acast.com/privacy for more information.

Summary:Ian Crosby, co-founder and CEO of Bench Accounting gives an overview of his accounting company and how it takes care of its customers. Bench helps entrepreneurs with their bookkeeping needs by making it simple, affordable, and easy. Crosby discusses the innovative approach of Bench, gives advice to entrepreneurs, and talks about wanting to help people with their accounting needs.Show Notes:● 0:25 - Ian Crosby is the co-founder and CEO of Bench Accounting, an accounting company that fully handles entrepreneurs’ accounting needs.● 1:10 - How Bench Accounting was founded● 2:42 - Services Bench Accounting offers● 4:37 - How Bench Accounting is helpful for entrepreneurs● 5:30 - Why the Bench mission and messaging is different than those of other companies● 8:05 - Why Bench accounting focuses on bookkeeping and considers it the foundational piece of accounting● 10:20 - Provides confidence and reliability that there are no mistakes in the books● 12:05 - The Checklist Manifesto,a book about emergency checklists and how Bench accounting uses it● 13:44 - The advantages of charging a fixed price● 16:05 - Manual versus automated bookkeeping - which is better?● 20:00 - Why the government shut-down was a big problem● 20:45 - The biggest challenges to starting and running an innovative company● 22:09 - Why Crosby avoids surface-level efficiency● 23:30 - Crosby’s motivations - solving problems and making a contribution to society3 Key Points:1. Bench Accounting takes full responsibility for entrepreneurs’’ bookkeeping needs.2. Companies need to find the balance between manual and automated bookkeeping.3. Bench is focused on helping people solve their accounting problems.Tweetable Quotes:- “There must be a different way to do business. We must be able to create theseinstitutions that really make a difference in people’s lives.” - Ian- “No one's really taking responsibility on a massive scale that it’s done right.” - Ian- “No one has gone out and built with the kind of philosophy that we have.” - IanResources Mentioned:● bench.co● The Checklist Manifesto by Atul Gawande Hosted on Acast. See acast.com/privacy for more information.

Summary: Jason Pereira, award-winning financial planner, university lecturer, and writer, speaks with Clark Richey, CTO of FactGem, about the recent strides in connecting “big” data and the challenges associated with it.Show Notes:● 0:35 - Clark Richey, CTO of the data linking company FactGem, gives some background information about his company.● 1:55 - Richey explains his own background.● 3:05 - Host explains why data analysis is important.● 3:50 - Richey explains the steps and challenges involved in analyzing data.● 5:44 - Why are certain companies able to gather a great deal of information linked all together?● 7:18 - Why are certain established companies really struggling with this problem?● 8:50 - Older companies especially in the financial sector have created their own problem because of sticking with old technology.● 11:13 - Discusses his first steps including education and examples when sitting down with company leaders.● 13:35 - Talks about challenges of interacting with internal IT departments.● 16:00 - Companies don’t need to modernize their entire system all at once. They can start with small steps.● 19:00 - They discuss the value of having live information while running a business.● 21:00 - Why Excel use is going by the wayside.● 21:35 - How to deal with fraudulent data.● 25:16 - Richey explains how he would want to create a culture that embraces ambiguity and trying new things.● 25:56 - He explains the challenges of running a new company.● 27:08 - He tells listeners about exciting changes coming in his business.● 32:13 - Grocery stores are making excellent strides in customer data connection.3 Key Points:1. The field of data analysis and connection is making exciting new strides to help willingbusinesses be more successful.2. Some older companies are really struggling with data connection, mostly due to being wed to old technology.3. The business intelligence industry is ready for massive change.Tweetable Quotes:- “I wanted to see if we could build a product or a set of products that allows people to usethose techniques, those engineering methods, without actually having to write software themselves and to make it really easy for the average person..” - Clark- “By not changing, you’re taking on tremendous amount of risk because I guarantee youthere’s ten other companies, at least, that are looking to move into your space because they’re going to think about the data in a completely different way and gain a competitive advantage.” - Clark- “The business is always gonna change. You’re never gonna know what you’re gonna wantdata-wise in a month, or two months, in a year.” - ClarkResources Mentioned:● The Fintech Impact Podcast● Itunes to access the podcast● Refer to Jason Pereira ́s Linkedin for Information about the Fintech event● Woodgate Financial Hosted on Acast. See acast.com/privacy for more information.

Summary:Jason Pereira, award-winning financial planner, university lecturer, writer, speaks with Mauricio Di Bartolomeo, CEO of Ledn, about how he is changing the financial landscape with bitcoin. Ledn is accepting bitcoin as an asset and uses it to create an even lending playing field.Show Notes:● 0:45 - Mauricio Di Bartolomeo is the CEO of Ledn. Ledn is a bitcoin lending company.● 1:07 - The company provides services around digital assets● 2:57 - How Mauricio’s Venezuelan roots affected how he saw digital assets● 5:31 - How bitcoin can help the economy of Venezuela● 7:00 - Volatility is relative. In Venezuela, Bitcoin is more stable compared to their currency● 10:32 - Why the focus tends to be on the evil rather than the justice of Bitcoin● 12:00 - Bitcoin as a means to lending and how Ledn started● 13:34 - There was nobody around that would accept digital assets and Ledn saw that as a big problem● 14:20 - Bitcoin is an asset and should be considered as such● 15:29 - How to use Ledn’s bitcoin platform for a loan● 19:20 - Ledn offers the best rates● 28:00 - US regulators and bitcoin - the future of digital currency regulation● 30:18 - Understanding the market of bitcoin● 32:00 - The challenges presented by Venezuela and the importance of bitcoin to its economy● 39:56 - Digital assets allows all clients to be treated as one despite the disproportionate distribution of resources around the world3 Key Points:1. Ledn is making bitcoin an accepted asset for giving loans.2. The company is creating an even financial playing field for people around the world.3. Ledn shows the good bitcoin can offer the world rather than focusing on the injustice.Tweetable Quotes:- “Banking was no longer available to the average person in Venezuela.” –Mauricio- “This technology [bitcoin] can have a deep impact on people who are living in these type ofregimes [like Venezuela].” – Mauricio- “I like how this phenomenon is making people ask what money is.” –MauricioResources Mentioned:● The Fintech Impact Podcast● Itunes to access the podcast● Refer to Jason Pereira ́s Linkedin for Information about the Fintech event● Woodgate Financial Hosted on Acast. See acast.com/privacy for more information.

Summary:Jason Pereira, award-winning financial planner, university lecturer, writer, speaks with Stephanie Holmes Winton, Founder and CEO of CacheFlo. CacheFlo is a fintech company focused on giving advisors and clients what they need to manage their cash flows. Built off of psychological proof and Stephanie’s experience helping people manage money, CacheFlo is a real-world approach to helping people change their habits with money and manage their spend holistically.Show Notes:● 0:45 - CacheFlo is a tech company focused on providing expert level advice and tools to companies to inform them about their cash flow● 2:51 - The principles Stephanie used to create CacheFlo● 3:30 - People make good money but didn’t know where the money was going● 3:45 - The technology Stephanie created gives her clients tools to alter their behavior and create good habits when it comes to money and their cash flow● 4:45 - How to change the way people spend money● 6:42 - Why Stephanie decided to create software● 11:00 - The customer and advisor experience with CacheFlo and how it works● 15:16 - The main goal of CacheFlo is to reduce the fears and difficulties to manage finances● 18:00 - Cacheflo frees up up to $2,500 a month for many clients● 18:43 - The question CacheFlo answers is “How” to put a successful financial plan together● 21:38 - Nothing is the same from one moment ot the next. Rather than micro managing small tasks, CacheFlo prescribes a holistic spendable number. The client can then choose where to spend that money.● 28:00 - The software also finds client’s money that can be spent● 32:00 - How CacheFlo creates a financial health score that is built off of reality● 37:20 - The challenges of being a lone founder3 Key Points:1. Many people make plenty of money. That is not where people get into financial trouble.the problem is people don’t know how they spend their money.2. CacheFlo is a real-world tech solution that helps people know their financial limits.3. It is more powerful to manage a holistic number rather than micro-budgeting differentareas of life. CacheFlo helps people get to their monthly spend number.Tweetable Quotes:- “We are in this to prevent money from hurting people.” –Stephanie- “You think you know what everyone wants but you don’t know until you know.” – Jason- “The market isn’t what they say, it is what they do.” –StephanieResources Mentioned:● The Fintech Impact● Itunes to access the podcast● Refer to Jason Pereira ́s Linkedin for Information about the Fintech event● Woodgate Financial Hosted on Acast. See acast.com/privacy for more information.