Tag: Technology Integration
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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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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