Fintech Impact

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.

Shield FCSummary:Jason Pereira, award-winning financial planner, university lecturer, and writer, talks with Shiran Weitzman, CEO of Shield FC. Shield FC is a data aggregation platform that is enabling faster communication with clients and faster flagging of compliance issues.Show Notes:● 0:45 - Shield FC is integrating communication into a next generation compliance platform● 4:28 - The company connects electronic communication with trade communication● 6:30 - One of the biggest contributions of this platform is the regulatory aspect● 8:45 - The platform shows the importance of data aggregation and normalization● 10:38 - How the platform interacts with APIs● 11:54 - Every vendor has a proprietary format● 16:45 - The value of the data is the aggregation and correlations, not any advice per se● 18:40 - Machine learning is incorporated to tag financial compliance issues within the platform enabling a new age of financial compliance in the industry● 22:25 - How the differing country regulations change the communication platform per country● 24:46 - The software is allowing companies to avoid reputational loss and reinforce ethics● 26:09 - Why there needs to be a much more open ecosystem in finance and why collaboration needs to be encouraged by regulators3 Key Points:1. Shield FC is creating a platform that is changing the way financial compliance and thecommunication thereof takes place.2. The platform aggregates several different sources of data into once place, correlates them,flags compliance issues, and touts consumer and investor protection.3. The platform is enabling all the data to be seen in once place with machine learning tochange the compliance environment. The platform is on the edge of making the traditional manual process of compliance checks obsolete.Tweetable Quotes:- “Clients choose to communicate in whichever way is most convenient for them.” –Jason- “There is a new wave of electronic regulation right now. We [Shield FC] are addressingthis structure.” – Shiran- “Consumer protection and investment protection is a part of it.” –Shiran- “ePrivacy is GDPR on Steroids” - ShiranResources Mentioned:● The Fintech Impact Podcast● Itunes to access the podcast● Refer to Jason Pereira ́s Linkedin for Information about the Fintech event● Woodgate Financial● The Shield FC website Hosted on Acast. See acast.com/privacy for more information.

Summary:Jason Pereira, award-winning financial planner, university lecturer, writer, explores a royalty lending model with Sam Kawtharani, CEO of Corl. Corl is a company targeting the lending space with a new royalty model. They look for cash-heavy, asset-light companies to invest in with their model. On top of lending, Corl is moving the needle in business analytics and Security Token trading.Show Notes:● :30 - Corl is a business that helps business raise funds through a royalty model and blockchain● 3:00 - How Corl is helping more businesses get access to capital in the lending space● 6:00 - As long as the buyer can breakeven with the top royalty, it is still a cheaper option than other equity options● 8:44 - Some founders have had a hard time wrapping their head around the new funding method● 9:05 - Many companies participating are the ones that aren’t quite ready for venture capitalists. The other sides are the companies ready for venture capitalists but want to bootstrap the business and have cash injections from lenders.● 10:03 - This plan could be very helpful for people in the services business● 10:21 - Corl Perfect fit: Cash-heavy, asset-light businesses● 15:50 - Corl is not just offering capital but also insights for the businesses● 19:00 - How Corl is able to collect data and use it to provide an advantage● 22:00 - Corl uses security tokens to exchange. They have been working with regulators on a security token for a long time. It is an approach to exchange in cryptocurrency.● 24:00 - There are many exchanges down the road who will be supporting security tokens● 24:30 - In the future, every security could be a token● 27:44 - Sam sees a need for regulations to change especially the differences in each country.3 Key Points:1. Corl is enabling more companies to get funding.2. Corl is a royalty based model lending company that enables cash-heavy, asset lightcompanies to find funding.3. Corl is changing the game in investing not only on the lending side but also by offeringtheir own security as a security token.Tweetable Quotes:- “What do you want ownership or do you want to keep cash?.” –Sam- “Our model is a perfect fit for cash-heavy, asset-light companies.” – Sam- “Any business with a consistent source of revenue on a monthly basis is a good fit.” –SamResources Mentioned:● The Fintech Impact Podcast● Itunes to access the podcast● Refer to Jason Pereira ́s Linkedin for Information about the Fintech event● Woodgate Financial● Corl.co Hosted on Acast. See acast.com/privacy for more information.

Summary:Jason Pereira, award-winning financial planner, university lecturer, writer, sits with Daniel Eberhard, CEO of KOHO. KOHO is a company that develops tech solutions to make the financial sphere more user friendly.Show Notes:● :30 - Introduction of KOHO and CEO Daniel Eberhard● 1:30 - KOHO is a company focused on creating financial tools that make the banking experience more user friendly. The tools essentially sit on top of the secure bank’s back-end allowing Koho to focus on the UX.● 2:00 - The set-up of KOHO allows the platform to be more client focused● 2:30 - Daniel was inspired by the archaic banking structure of Canada● 4:45 - Banks are disinsentified to provide a better, cheaper service and platform● 6:15 - The two things banks must have to be successful● 8:16 - KOHO user experience from discovery to use● 10:00 - How KOHO gives users a rich insights into their financials● 11:34 - The tools also help you set financial goals. The create a spendable balance alerting you on how much you have. It is essentially individuals future cash flow - something not generally calculated for individuals.● 12:52 - KOHO is also increasing the amount of money saved by Canadians.● 16:00 - KOHO establishes trust by ensuring they do not sell people products they don’t need.● 19:44 - The bank on the backend of KOHO is People’s Trust● 20:00 - How Canadian regulation could affect banking and the KOHO platform● 22:20 - Future features offered by KOHO● 26:32 - There are certain things that if you start consuming them your lifestyle dictates your need to stay in a certain job● 29:10 - The major obstacle was developing the relationships with the banks● 30:30 - How KOHO is moving the needle for Canadians● 31:07 - Daniel wished Canadians would hold their banks to a higher standard3 Key Points:1. KOHO is a company that is changing the user experience for the banking space throughtechnology.2. KOHO focuses on improving the user experience while a bank focuses on the back end.3. KOHO is making it easier for people to track their finances and create financial goals.Tweetable Quotes:- “KOHO is what's called a neo-bank what that means is we sit on-top of bankinginfrastructure and then we create everything else.” –Daniel- “How do we listen really well to the customers and how do we move really fast. These arethe two values that create better value for our users.” – Daniel- “The money sits with People’s Trust and we [KOHO] sit on top of that infrastructure.” –DanielResources 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.