Tag: Advisors
How Technology is Revolutionizing IRAs with Brian Hamburger (Ep. 22)

How Technology is Revolutionizing IRAs with Brian Hamburger (Ep. 22)

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Are you keeping pace with the rapidly changing landscape of independent financial advice? If your practice isn’t evolving, you might be left in the dust.

In this episode, Rusty Sommer sits down with Brian Hamburger, JD, CRCP, President and CEO of MarketCounsel, to explore the ever-evolving world of independent advisors. Brian shares his insights on evolving business models, the impact of technology, and what advisors need to know about current industry trends. Tune in to find out how innovation is reshaping client relationships and what the future holds for regulatory changes.

Brian discusses: 

  • (02:05) The importance of creating a community for CEOs and founders in wealth management
  • (02:49) Key takeaways and themes from this year’s conference
  • (05:38) The evolving landscape for independent advisors and emerging opportunities
  • (07:00) How technology and pandemic-driven changes are reshaping advisor-client dynamics
  • (08:42) Navigating regulatory changes under shifting political landscapes
  • (13:32) Market Council’s role in supporting RIAs
  • (15:08) Predictions for the financial regulatory environment in 2025

Connect with Brian Hamburger:

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About our Guest: 

Brian Hamburger, JD, CRCP, is the founder, president and CEO of MarketCounsel Consulting, the leading business and regulatory compliance consultancy to the country’s preeminent entrepreneurial independent investment advisors. Brian is also the founder and chief counsel of the Hamburger Law Firm, a boutique law firm with its practice in virtually all areas related to the investment and securities industry, entrepreneurial and employment matters. The MarketCounsel companies and the Hamburger Law Firm reflect Brian’s unrelenting entrepreneurial drive and genuine desire to provide an unparalleled combination of preeminent counsel and uncompromising service to the wealth management profession. Hamburger is also the president of MarketCounsel Productions, a company that has built community within the wealth management profession by hosting events such as The MarketCounsel Summit, MarketCounsel Supper Clubs and MarketCounsel After-Hours. The MarketCounsel Summit is the industry’s capstone event of the year and a forum for debate and dialogue on some of the most critical issues facing leaders of wealth management firms.

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The Power of Partnerships in Wealth Management with Andree Mohr (Ep. 21)

The Power of Partnerships in Wealth Management with Andree Mohr (Ep. 21)

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Are you ready to take center stage in financial advice? Discover what it takes to make true partnerships and community-building the cornerstone of your business strategy.

In this episode, Rusty Sommer sits down with Andree Mohr, President of Integrated Partners, at the Market Counsel Conference in Las Vegas. They discuss the art of collaboration between financial advisors and CPAs, detailing how Integrated Partners is redefining success through strategic partnerships and community support. Andree shares insights on how they empower advisors to connect deeper with their clients, streamline operations with technology, and foster a vibrant, collaborative environment. As the conversation unfolds, you’ll learn about their innovative approach to advisor support, including leveraging AI for strategic planning and the power of community building.

Rusty and Andree discuss:

  • (01:38) Their approach to advisor support and community building
  • (03:01) Unleashing advisor growth through partnerships with CPAs
  • (05:15) How Integrated Partners helps advisors achieve significant growth
  • (09:37) The importance of partnership in the financial industry
  • (21:45) Attracting new clients and expanding services with CPA partnerships

Connect with Andree Mohr:

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About our Guest: 

As the president of Integrated Partners, Andree Mohr serves as a driven leader, visionary, and implementor for the organization.

Her mission is to bring simplification to the financial advice industry and create a sustainable path of success for financial advisors, their support staff, management teams, and CPA partners.

Her adept workflows and nimble judgment have proven instrumental in creating a culture of innovation, efficiency, and collaboration. She skillfully leverages these capabilities to oversee Integrated’s day-to-day operations, drive the firm’s key objectives, and ensure the consistent and healthy growth of the organization.

A particular passion of hers is helping Integrated’s entrepreneurial-minded financial advisors implement strategic operations that foster practice growth and optimization to bring their business visions to fruition. Through Integrated’s nationally renowned CPA Alliance program, she assists CPA partners in monetizing their most trusted advisor status while simultaneously aiding clients in their financial planning and tax needs.

She is the co-author of the exclusive book Center Stage: How to Become the Star of Your Practice with colleagues Matt Ackermann and Paul Saganey. The book focuses on operational, team-building, and business processing efficiencies to help empower advisors to streamline their practices. The result: advisors have a roadmap to grow their business, leave a lasting legacy, and ultimately provide a boutique, concierge, and memorable experience for their clients.

She graduated from Northeastern University, where she excelled in their experiential learning programs. She has been supporting advisors in various capacities for the last 13 years and truly enjoys watching them realize their goals.

Outside of the office, her favorite pastimes include cherished moments with her husband and their twin daughters, passionately cheering on the New England Patriots, traveling to her favorite destinations, and supporting charitable causes that are important to her.

For those interested in talking football or discussing what it’s like bringing advisors onto the most open-architecture, independent, growth-oriented advisor partnership platform in existence, she can be reached at andree.peterson@integrated-partners.com.

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Today’s Technology Trends In Wealth Management with Joel Bruckenstein (Ep. 20)

Today’s Technology Trends In Wealth Management with Joel Bruckenstein (Ep. 20)

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How will embracing technology today redefine financial advising tomorrow?

In this episode, Rusty Sommer speaks with Joel Bruckenstein, a leading voice in financial technology, to explore the transformative power of today’s tech landscape. As the founder of the T3 conferences, Joel provides first-hand insights into technology trends reshaping financial advisory services. Dive deep into discussions on real innovation versus incremental evolution, and how these shifts impact the industry. Discover why staying ahead with AI and automation isn’t just beneficial but essential for growth and client satisfaction.

Joel discusses: 

  • (00:57) The evolution and implementation of technology in wealth management
  • (03:01) What truly defines innovation in financial technology
  • (05:20) Key highlights and themes of the upcoming T3 2025 Conference
  • (06:45) Strategies for organic growth using improved workflows and tech adoption
  • (08:58) Evaluating new technologies and making informed decisions
  • (10:42) Impact of AI and machine learning on client advisory
  • (14:05) Preparing financial firms for future innovations
  • (16:42) Predictions and trends for the wealth tech industry by 2025

Connect with Joel Bruckenstein:

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About our Guest: 

Joel P. Bruckenstein, CFP®, is a globally recognized authority in the field of applied technology for financial professionals. He is renowned as the Publisher of Technology Tools for Today (T3), formerly known as Virtual Office News and now known as the T3 Tech Hub.

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Navigating the Future of RIAs: Insights from TradePMR’s Robb Baldwin (Ep. 19)

Navigating the Future of RIAs: Insights from TradePMR’s Robb Baldwin (Ep. 19)

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What sparked the evolution of RIAs?

In this episode, Rusty Sommer sits down with Robb Baldwin, CEO of TradePMR, at the Market Council Summit in Las Vegas. Together, they have a candid conversation on the history and evolution of the Registered Investment Advisor (RIA) sector and the current trends shaking up the landscape. From the entrepreneurial spirit that fuelled the RIA space to recent developments as Trade PMR joins forces with Robinhood, this episode provides a fresh perspective on where the industry is heading.

Robb discusses:

  • (01:54) The early entrepreneurial days of the RIA industry and its impact on modern practices 
  • (03:33) Major trends influencing the RIA space, such as roll-ups and aggregation
  • (05:16) The importance of supporting advisor independence with effective technology and service 
  • (06:23) Why the partnership with Robinhood is pivotal for the future of both companies 
  • (11:47) Enhancing client experience through technology to cater to all generations

Tune in to explore how these dynamics shape the future of wealth management and trading technology.

Connect with Robb Baldwin:

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About our Guest: 

With over 30 years of experience in the brokerage and RIA industry, Robb Baldwin is the founder, president, and CEO of TradePMR, a technology and custodial services provider for RIAs. Robb is passionate about empowering advisors to achieve their true independence and deliver exceptional service to their clients.

Robb founded TradePMR in 1998 after facing a challenging transition in his own RIA firm due to a merger of two major custodians. He saw the need for a better solution that would combine innovative technology, extraordinary support, and seamless workflow for RIAs. Under his leadership, TradePMR has grown to serve RIAs across the country, earning recognition for its award-winning Fusion platform and its customer satisfaction. Robb holds multiple securities licenses registered with TradePMR, and he continues to drive the firm’s vision and mission to provide the best technology and service in the industry.

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The Future of Wealth Management: Predictions for 2025 (Ep. 18)

The Future of Wealth Management: Predictions for 2025 (Ep. 18)

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What will shape the financial landscape by 2025? Join us as we dive deep into predictions for the future of wealth management. 

In this episode, Rusty Sommer dives into the future of wealth management with an exciting lineup of guests from the 2024 MarketCounsel summit: John O’Connell, Kartik Srinivasan, Oleg Tishkevich, Kate Healy, Andree Mohr, Bill McFadden, Brian Hamburger, Joel Bruckenstein, Robb Baldwin, Tony Stich, and Amy DeTolla. They explore the big predictions for 2025, like how AI co-pilots and personalized client apps are set to transform the industry, why mega firms driven by private equity are emerging, and how personalization will redefine client experiences. Discover insights on trends like mergers, private equity’s impact on growth, and the looming cybersecurity challenges. The dialogue is rich with insights about the continual evolution of technology, regulation impacts, and strategic industry shifts.

Key Highlights:

  • (01:13) The role of AI co-pilots in enhancing productivity
  • (02:12) The expanding impact of mergers and acquisitions fueled by private equity
  • (04:41) The emergence of custom client applications for RIAs
  • (08:48) Challenges and changes in regulation and compliance
  • (13:07) The evolution of niche-based advice and technology solutions
  • And more!

Immerse yourself in this forward-looking discussion and get a head start on 2025’s transformative impact!

Connect with Rusty Sommer:

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How Technology is Shaping the Future of Wealth Management with Tony Stich (Ep. 17)

How Technology is Shaping the Future of Wealth Management with Tony Stich (Ep. 17)

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Will AI transform wealth management overnight?

In this episode, Rusty Sommer speaks with Tony Stich from MarketCounsel about the fascinating insights and key takeaways from the latest industry summit. Dive into the world of asset management as they explore how technology and AI are reshaping the industry, the significance of real-time curriculum changes, and the introduction of fresh faces and ideas in finance.

Tony and Rusty discuss: 

  • (03:03) The evolution of summit topics for real-time impact
  • (05:35) The role of AI in improving asset management strategies
  • (06:44) Challenges and opportunities in planning for investor longevity 
  • (09:27) The importance of collaboration and networking in finance
  • (12:32) Innovations and the rapid pace of technological development
  • (13:22) Predictions for wealth management trends in 2025

Tune in to gain a fresh perspective on the future of wealth tech and discover how the industry’s shifts can enhance your professional approach. 

Connect with Tony Stich:

Connect with Rusty Sommer:

About our Guest: 

Tony is an industry speaker, consultant, trusted advisor, and active investor that specializes in GTM strategies — with a heavy emphasis on marketing — for financial services firms, RIAs, and FinTech companies. 

Published in numerous global outlets including the Journal of Financial Planning, Wealthmanagement.com, Investopedia, US News & World Report, and ThinkAdvisor as well as being featured on Reuters, FinTech TV, Financial Advisor IQ, Asset TV, and InvestmentNews, Stich is an award-winning thought leader in the FinTech space, providing compelling statistics, a thought-provoking perspective, and much-needed humor to a rapidly-evolving industry. 

He is currently Executive Managing Director of MarketCounsel — the leading business and regulatory compliance consultancy to the country’s preeminent independent investment advisers throughout all stages of their lifecycle.

Before this, he spent most of his career in the WealthTech industry with his latest role serving as Chief Revenue Officer for Entrustody — a modern, digital-first custodial platform. Prior, he was at InvestCloud which acquired Advicent, the global financial planning software developer of NaviPlan, Profiles, and Figlo. There as Chief Operating Officer, he led North American Sales, Marketing, Professional Services, Customer Success, and Support ultimately netting him recognition by Wealthmanagement.com as Chief Marketing Officer of the Year (2021) and obtaining the inaugural ThinkAdvisor LUMINARIES Executive Leadership Award (2021).

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Advisor Growth Strategies: How Synergistic Partners Help You Achieve Your Goals with Joe Duran (Ep. 16)

Advisor Growth Strategies: How Synergistic Partners Help You Achieve Your Goals with Joe Duran (Ep. 16)

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Are you ready to revolutionize your firm’s growth strategy in the wealth management industry?

Discover how to unlock the full potential of your wealth management firm with growth strategies and technology integration from industry leader Joe Duran of Rise Growth Partners.

In this episode, Rusty Sommer interviews Joe Duran, Managing Partner at Rise Growth Partners, to highlight essential growth strategies for advisory firms. They explore the critical gaps in brand innovation, technology application, and growth imagination that firms need to address. With expertise from Joe’s extensive background, this episode offers actionable insights for firms looking to evolve. 

Joe discusses: 

  • (02:37) The strongest headwinds advisors are facing that he can help them break through
  • (06:47) The importance of brand and culture within financial firms
  • (20:01) Rise Growth Partners’ strategic investment in Bleakly Financial Group and the importance of technology in financial firms
  • (27:31) How integrating technology to streamline processes improves productivity, satisfaction, and retention, ultimately benefiting client service and firm growth

Resources:

Connect with Joe Duran:

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About our Guest:

Joe is a serial entrepreneur and an industry visionary in wealth management and wealthtech. 

Most recently Joe was a Partner at Goldman Sachs as Co-Head of the Workplace and Personal Wealth business. Joe founded and was CEO of United Capital, one of the nation’s largest independent wealth management firms, which was acquired by Goldman Sachs in July, 2019. Prior to that he built and sold Centurion Capital, one of the first Turnkey Asset Management Platforms to General Electric where he served as President of GE Private Asset Management (now NYSE listed AssetMark.) 

He has written three books on investing and entrepreneurship and has been on the New York Times and USA bestseller lists. Joe is a sought after conference speaker and appears frequently on a broad spectrum of media from CNBC to Goop.

Joe has MBAs from Columbia University and UC Berkeley, and an undergraduate degree from Saint Louis University. He is a CFA Charterholder and a member of YPO. He has been a Yogi for decades, meditates daily and is an avid beach volleyball player. 

Joe is married to Jennifer and they have three daughters that they cherish.  They live in Laguna Beach, California and Tribeca, New York. They travel frequently, love dining, dancing and live concerts.

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The Winning Edge: Private Equity’s Influence in Wealth Strategies (Ep. 14)

The Winning Edge: Private Equity’s Influence in Wealth Strategies (Ep. 14)

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What factors are driving the continuing evolution of wealth management? 

In this episode, we dive into the world of private equity with industry insiders!

Explore the impactful role of private equity in the wealth management sector in this engaging episode of ‘In the Money,’ sponsored by Flyer Financial Technologies. Host Rusty Sommer sits down with Lori Hardwick, Strategic Advisor at Genstar Capital, and Noreen Beaman, Head of Leadership Development at East Bay Executive Coaching. They explore how private equity is reshaping the industry, enhancing business strategies to drive growth and efficiency.

Key Highlights:

  • Strategic Infusion: Lori Hardwick discusses how private equity boosts financial metrics like EBITDA and encourages firms to outsource, sharpening their focus on core competencies
  • Capital for Innovation: Noreen sheds light on the essential support from private equity, providing capital and strategic partnerships that enhance adaptability in a volatile market
  • Impact of Executive Coaching: Explore the critical role of leadership development in adapting to rapid changes in the wealth management field, facilitated by executive coaching
  • Outsourcing for Efficiency: Gain insights into the growing trend of outsourcing backend operations to improve operational efficiency
  • Leadership in Transformation: Learn about the importance of effective communication and robust partnerships in managing global teams and maintaining a competitive edge.
  • And much more!

 

Connect with Lori Hardwick:

Connect with Noreen Beaman

Connect with Rusty Sommer:

 

About Lori Hardwick:

Lori is a member of Genstar Capital’s Strategic Advisory Board and advises the firm in the financial services industry. She brings more than 25 years of experience of working in the financial industry as a prominent voice and is known for her intense passion for continuous improvement in the financial advisory industry. As CEO of WealthTech at RedRock Strategic Partners LLC, Lori works directly with C-suite level executives at some of the largest financial services companies, to help them create, and execute against, winning growth strategies and to improve the overall experiences for advisors and their clients. She has expertise in investment, technology, distribution and advisory solutions and is a regular speaker at industry events. Lori received a BA from The Ohio State University and graduated from the Executive MBA Program at the University of Chicago Booth School of Business.

 

About Noreen Beaman:

Noreen D. Beaman is the Vice Chair of Orion’s Board of Directors. She most recently served as President of Orion Advisor Solutions following Orion’s 2020 merger with Brinker Capital. Prior to the merger, Noreen was CEO at Brinker Capital where she helped advisors and their clients build better outcomes for over 30 years. Noreen has received numerous accolades for her lasting impact on the financial advice industry including Philadelphia Business Journal’s Most Admired CEO, InvestmentNews’ 2017 Women to Watch, and Greater Philadelphia’s Entrepreneur of the Year, alongside Chuck Widger in the financial services category by EY.

Noreen received her Bachelor of Science from Saint Peter’s University. She earned the CPA designation in New Jersey and is a member of the American Institute of Certified Public Accountants. As an industry leader, Noreen is passionate about supporting culture, women, and diversity in the workplace. She is a mentor for the Money Management Institute’s Leadership Pathway, which connects members of the next generation with industry veterans to further enhance the mentee’s knowledge and insights surrounding the investment advisory industry. Noreen is an active contributor and frequently participates in panels to discuss the importance of women and greater diversity, equity, and inclusion in wealth management.

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The Winning Shot: Sports Wisdom in Wealth Tech (Ep. 13)

The Winning Shot: Sports Wisdom in Wealth Tech (Ep. 13)

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How does the high-stakes world of sports mirror the world of financial technology and asset management? 

Discover this and more in the latest episode of ‘In the Money,’ sponsored by Flyer Financial Technologies. Host Rusty Sommer welcomes Steve Lewczyk, the esteemed Managing Director for Business Development at Flyer. With an impressive three-decade career in financial technology and services, Steve discusses leveraging technology for competitive advantage and innovating for the future of finance.

Key Highlights:

  • From Veteran to Visionary: Steve shares his journey in finance, emphasizing his diverse experience and innovative tech approach
  • Parallel Playbooks: Explore the similarities between sports, particularly basketball, and finance, highlighting teamwork and strategy
  • Tech-Driven Transformation: Discover how technology, like Advent Software’s early solutions, revolutionized asset management
  • Overcoming Market Hurdles: Learn how adapting sports strategies can inform financial market navigation
  • AI: Uncover AI’s impactful role in finance, its applications, and the need for reliable data
  • Revolutionizing Trading: See how a unified tech system can boost trader efficiency
  • Embracing Change: Understand the necessity of adaptability and innovation in finance, with lessons from asset management and sports strategy
  • Plus, many more insights!

 

Connect with Steve Lewczyk:

Connect with Rusty Sommer:

 

About Steve Lewczyk: 

Steve is a leader in buy side technology, wealth management systems, trading platforms, and data management solutions. With over 25 years experience at leading fin tech and securities firms, Steve has worked at Fidelity Investments, Advent Software (SSNC), Envestnet and co-founded Nirvana Solutions. Steve’s expertise is in building and scaling successful sales organizations.

In his role at Flyer, Steve is focused on buy side asset managers that require solutions that allow for integration, ease, scale and future proofing operations.

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Tech-Savvy Wealth Management: Adapting to Industry Changes (Ep. 12)

Tech-Savvy Wealth Management: Adapting to Industry Changes (Ep. 12)

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Can technology bridge the gap for smaller wealth management firms in a competitive market?

Join Rusty Sommer and special guest Chuck Fialla from Sovereign Financial in this insightful episode of ‘In the Money,’ where they explore the pivotal role of technology in transforming small and mid-sized wealth management firms. Understanding the role of portfolio management and trading technology / automation allowed his firm to serve more clients successfully. With his rich background in financial planning and asset management, Chuck details his journey from a humble beginning as a cold caller to leading the successful RIA, Sovereign Financial.

Key Highlights:

  • Journey to Success: Trace Chuck’s evolution in finance, from cold caller to an advocate for the RIA space, and his contributions to Investment News and Go RIA
  • Smaller Firms, Bigger Challenges: Dive into the specific challenges small to mid-sized firms face in asset and wealth management, including resource allocation and competition
  • Tech Alignment with Mission: Understand the importance of aligning technology with a firm’s core mission, including Chuck’s experiences and the value of setting clear goals
  • Data Management Excellence: Gain insights into the critical role of a ‘single source of truth’ for scaling businesses effectively in wealth management while leveraging the API economy and real time position stores
  • Customized Portfolio Design: Discover how Sovereign Financial uses portfolio management technology to create tailored portfolios for each client
  • From Manual to Tech-Driven: Explore the transition from traditional methods to advanced technological solutions to drive organic growth, and the challenges involved in this transformation
  • Building Lasting Relationships: Realize the importance of accurate data and nurturing relationships with clients and their families for future generations
  • And much more!

 

Connect with Charles “Chuck” Failla, CFP®:

Connect with Rusty Sommer:

 

About Charles “Chuck” Failla, CFP®: 

Chuck understands the importance of working as a Fiduciary and uses those standards to oversees the financial planning and investment management work done at Sovereign Financial.

As a Board Certified Financial Planning™ practitioner, Chuck understands that shepherding a client’s financial and retirement plan requires more than simply “picking investments”. Instead, he applies his experience as a CFP® professional to coordinate all aspects of a client’s financial picture: goals, investments, taxes, liabilities, and estate / legacy planning. By following this disciplined approach, he is able to ensure all aspects of a client’s financial and estate planning needs are properly coordinated and continuously monitored.

In addition to working with clients, Chuck is a regular speaker and commentator on financial topics and has been featured in Forbes, The New York Daily News, Reuters, CBS Market Watch and numerous other media outlets. Chuck is also committed to the financial planning community and advancing the cause of financial literacy. To that end, he currently serves on the Board of Directors for the Financial Planning Association of Connecticut as the Chairperson of their Pro Bono / Public Outreach Committee. Chuck is also active in the National Financial Planning Association, American Mensa and other non-profits in the CT & NYC Metro area.

Chuck received his degree in Finance from The University of Connecticut and completed his coursework for the CFP® certification with The American College. He resides in North Stamford, CT with his wife, two children and their Black Lab and cats. In his spare time, Chuck enjoys all things outdoors — on the weekends you will find him with his family hiking, camping, skiing, boating or just enjoying the trees while grilling in the backyard.

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