Tag: Portfolio Management
How AI is Changing Wealth Management with Jason Pereira (Ep. 15)

How AI is Changing Wealth Management with Jason Pereira (Ep. 15)

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Is your financial advisor about to be replaced by AI? The answer isn’t as simple as yes or no.

Tune into this episode to discover how AI is doing more than just automating repetitive tasks—it’s redefining the role of financial advisor and reshaping the entire financial landscape.

As AI drives significant change in wealth management, the industry stands at a crossroads. Join host Rusty Sommer and fintech professional and industry thought leader, Jason Pereira, as they discuss whether financial advisors are at risk of being replaced by AI, and unpacking the reasons why the answer isn’t an easy one. They also discuss what steps advisors can take to harness the benefits of AI in order to enhance their practice while preserving the vital human touch required to maintain client relationships.

Key Highlights:

  • Unpacking AI Myths: Dispels misconceptions about AI and highlights the rise of Large Language Models (LLMs) like ChatGPT in finance
  • Boosting Efficiency: Shows how AI automates tasks, freeing advisors to focus on client relationships and strategic decisions
  • Advancing Portfolio Management: AI enhances rules-based systems by reducing false positives and automating rebalancing
  • Protecting Client Data: Discusses AI tools that anonymize data, ensuring compliance while maximizing AI’s benefits
  • AI as an Ally: Emphasizes that AI enhances, but doesn’t replace, the human touch in understanding client behavior and goals
  • Industry Networking: Highlights key conferences like Future Proof, with a growing Canadian presence in US events
  • Client Care at the Core: Stresses that client care remains central, with AI aiding in more personalized financial planning
  • And much more!

 

Connect with Connect with Jason Pereira:

Connect with Rusty Sommer:

 

About Jason Pereira:

Jason is a financial planner who has lived and breathed topics related to financial planning for over 20 years. In that time, he has become a recognized writer, commentator, speaker, podcaster, teacher, and expert in the areas of financial planning, practice management, and fintech. He has also obtained two degrees, nine professional designations, been nominated for or won over 30 industry awards, and produced over 600 articles, podcasts, and interviews. www.JasonPereira.ca is his conduit for sharing his thoughts, views and learning that he has amassed over the years.

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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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Innovation Unleashed: Wealth Tech’s New Era (Ep. 11)

Innovation Unleashed: Wealth Tech’s New Era (Ep. 11)

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Is technology fundamentally transforming the wealth tech industry?

Discover the groundbreaking insights with Rusty Sommer and special guest Verity Larsen from Versoft Consulting in a riveting episode of “In The Money,” presented by Flyer Financial Technologies. With over two decades in the field, Verity guides us through the evolving landscape of investment technology, cautioning against a one-size-fits-all approach. 

Are you ready for the change?

Key Highlights:

  • Dive into the complexities and wide-ranging impacts of the T+1 settlement shift on operations and client relationships
  • Learn vital strategies for integrating AI effectively in finance, emphasizing the critical role of precise data
  • Explore the increasingly crucial role of portfolio managers amidst rapid technological advancements
  • How secure is your data? Unravel the surprising privacy and security issues arising from AI tools in finance
  • Discover the increasingly important role of compliance officers in the safe implementation of AI
  • Find out why data management and CRM systems are now at the heart of client engagement for broker-dealers
  • And much more!

 

Resources:

Connect with Verity Larsen:

Connect with Rusty Sommer:

 

About Verity Larsen: 

Verity is Versoft’s heart and soul. She co-founded the company in 2015 after spending 7.5 years as Team Lead and Senior Consultant at SS&C Advent. Prior to entering the consulting field, she worked as Assistant Director of Information Systems at a Portland-based asset management firm and has been in the investment management industry since 2000.

Verity graduated with an A.A.S. in Computer Information Systems from Portland Community College. She also spent 3 years on the Board of Directors for The Exchange Network (formerly Advent Users Group) serving as VP and President in her 2nd and 3rd years.

She’s committed to providing an exceptional consultative approach to every client and ensuring the work performed by the Versoft Team results in the highest level of customer satisfaction. Verity works to continue training and education throughout the Versoft team, passing on the knowledge she has gained being in this industry for so many years.  She also spends time building and maintaining relationships with vendors so the Versoft team can remain knowledgeable on technology platforms and tools, IT hosting, and data and outsourced service providers.

When she’s not doing CEO/Principal Consultant/Co-Founder things, Verity likes to spend time with family, including seven nieces and nephews and two great-nephews, in multiple states around the U.S. On rare occasions, she’ll hike around the Oregon Coast, Central Oregon, and other places throughout the Pacific Northwest.

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Scale vs. Service: How Advisors can Utilize Tech to Focus on Outcome-Oriented Advice with Will Trout (Ep.3)

Scale vs. Service: How Advisors can Utilize Tech to Focus on Outcome-Oriented Advice with Will Trout (Ep.3)

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Investment managers and advisors are all about balancing their clients’ needs while striving to provide a superior level of service. 

But, what role does technology play when it comes to providing clients with personalized, outcome-oriented advice? Managers must develop the agility to customize products and services without amplifying operational cost and complexity. 

In this episode, Will Trout, the Director of Wealth Management at Javelin Strategy & Research, joins Shannon Rosic to unpack the challenges and opportunities around personalized delivery of advice and how technology can augment the entire experience.

Will discusses: 

  • His areas of expertise within the wealth management industry
  • Ways investment managers and advisors can achieve a reasonable level of customization and personalization with their clients
  • Balancing scale and service by using technology
  • Trends around portfolio management 
  • The role of direct indexing in the marketplace 
  • And more!

Resources:

Connect with Will Trout:

Connect with Shannon Rosic:

About our Guest: 

William Trout is a thought leader in North American technology strategy and innovation in the wealth and asset management industries. He has particular expertise in platform automation; portfolio management and optimization tools; data capture, storage, and analytics; and robotic process automation and AI. Within the wealth management arena, his interests include financial planning, investment advisory, retail brokerage, and trust.

An authority on digital advice delivery, William has been widely quoted in publications such as Bloomberg, CNBC, Financial Times, New York Times, and The Wall Street Journal. He is also a frequent speaker at industry conferences and client gatherings.

Before joining Javelin, William led the wealth management practice at Celent, the research and advisory arm of Oliver Wyman. Previously, he was head of product and segment development for affluent and high-net-worth customers within BBVA USA, as well as a member of the BBVA Group’s global Private Banking management team. William holds an AB from Harvard College.



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