Tag: Wealth Management
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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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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Integrating Options in High Net Worth Portfolios with Brett Kunshek (Ep. 10)

Integrating Options in High Net Worth Portfolios with Brett Kunshek (Ep. 10)

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Join Rusty Sommer from Flyer Financial Technologies and Brett Kunshek of Mariner Wealth Advisors in this episode as they dive into the nuanced world of options.  They cast away myths about its risks and highlight its potential, especially for high net worth clients. Discover how the wealthy use options as sophisticated financial instruments.

Key points covered in the episode:

  • How wealth advisors are redefining their approach to derivatives
  • Why option strategies are the new buzz in today’s turbulent market
  • How to integrate technology that maximizes options strategies
  • Discover who stands to gain the most from options-based strategies
  • The art and science of asset managers striking that golden balance
  • The secret sauce behind captivating today’s informed clients and attracting fresh ones
  • Unveiling how options can uplift your cash flow, fortify assets, and supercharge returns
  • And more – take a peek inside!

Connect with Brett Kunshek:

Connect with Rusty Sommer:

About our Brett Kunshek: 

Brett Kunshek, CFA, leads the Options and Structured Notes division at Mariner Wealth Advisors. Before Mariner, he was at the helm of 440 Investment Group, a firm specialized in option investments, which Mariner later acquired. Brett has a history in risk management from his time at Protiviti and holds degrees from Pittsburg State University and the University of Kansas. He’s also an active member of both the CFA Institute and the Kansas City Society of Financial Analysts, blending hands-on practice with theoretical knowledge in finance.

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The Future of TAMPs with Morningstar’s Daniel Needham (Ep. 7)

The Future of TAMPs with Morningstar’s Daniel Needham (Ep. 7)

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From giving time back to advisors, to reaping the benefits of outsourcing, there’s no denying the advantages of a TAMP. As the industry’s gold standard for data and research, not to mention 2022’s top TAMP of the year, the team at Morningstar’s Wealth Management Solutions knows a thing or two about building a wealth management platform.

In this week’s episode, Daniel Needham, president of Wealth Management Solutions, joins Shannon Rosic to discuss TAMP trends. Daniel shares some of Morningstar’s data, research, and insights with listeners so they can build investment solutions for their clients.

Daniel discusses:

  • The biggest threats to the TAMP industry 
  • The latest trends in TAMPs and wealth management platforms 
  • Why Morningstar chose to invest in the Wealth Management Solutions group
  • Rolling out Morningstar Direct Indexing 
  • And more

Resources:

Connect with Daniel Needham:

Connect with Shannon Rosic:

About our Guest: 

Daniel Needham, CFA, is the president of Morningstar’s Wealth Management Solutions. After the recent acquisition, he also oversees the U.K. and international business of Praemium and their core products, which were re-branded to Morningstar Wealth Platform and Wealthcraft, a Morningstar company.

Prior to his current role, Needham served as president and global chief investment officer since 2015 for Morningstar’s Investment Management group. In 2013, Needham stepped into the global chief investment officer role for the Investment Management group, and he also assumed responsibility for Morningstar’s investment management operations in Europe. Previously, Needham was chief investment officer and managing director for Investment Management in Asia-Pacific.

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The Future of Wealth and Investment Management with Chip Roame (Ep. 6)

The Future of Wealth and Investment Management with Chip Roame (Ep. 6)

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What does the future of wealth and investment management look like?

In this episode Chip Roame, Founder and Managing Partner of Tiburon Strategic Partners and the Tiburon CEO Summits, breaks down the top five trends he’s following in the wealth and investment management industry.

Chip also shares insight into whether these trends are here to stay, and how they should ultimately inform advisors when it comes to growing their business.

Chip discusses:

  • The five trends in the investment and wealth management industry
  • How Tiburon Strategic Partners conducts their research
  • Why advisors should focus on Gen Xers as the most prominent investors of the future
  • How advisors can consider other segments in their business if they want long-term growth
  • And more

Resources:

Connect with Guest:

Connect with Shannon Rosic:

About our Guest: 

Chip Roame is the Founder & Managing Partner of Tiburon Strategic Advisors and the Tiburon CEO Summits, and a leading strategic advisor to CEOs, other senior executives, & boards of directors in the wealth & investment management (and WealthTech) markets. Prior to forming Tiburon in 1998, Mr. Roame served in similar capacities, first as a management consultant at McKinsey & Company, and later as a business strategist at The Charles Schwab Corporation.

Mr. Roame has responsibility for all of Tiburon’s advisory, research, service, & marketing activities which keeps him on the leading edge of strategic initiatives in the industry’s fastest-growing businesses – registered investment companies (mutual funds & exchange traded funds (ETFs)), direct indexing, managed account programs, hedge funds & liquid alternatives, cryptocurrencies (digital assets), structured products, sustainable investing (ESG), financial, tax, & estate planning, annuities & life insurance, discount & online brokerage, online advice firms (robo advisors), traditional financial advisor channels, break-away brokers, the independent advisor markets, wealth management marketing & LeadGen, wealth management technology & turnkey asset management programs (TAMPs), and wealth manager succession planning & acquisitions.

Mr. Roame has been the host and keynote speaker at the semi-annual Tiburon CEO Summits since their inception in 2001, the key speaker at Tiburon’s weekly Tiburon Webinars, and is the author of over 3,000 Tiburon Written Research topics & profiles.



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Making a Case for an API-Connected Ecosystem with Craig Iskowitz (Ep.4)

Making a Case for an API-Connected Ecosystem with Craig Iskowitz (Ep.4)

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APIs (Application Programming Interface) have improved the workflow of businesses in many industries by bridging the gap between different software and allowing them to communicate with each other. When it comes to the wealth management industry, accurate, timely, and seamless data exchange is table stakes. So, what does an API-enabled future look like?

In this episode, Craig Iskowitz, CEO and founder of Ezra Group, discusses:

  • What is an API
  • How APIs have transformed the wealth management industry
  • Why it is important to have more transparent and well-designed APIs
  • How to ensure platform security while using APIs
  • Things to consider when evaluating a vendor’s API stack
  • And more!

Resources:


Connect with Shannon Rosic:

Connect with Craig Iskowitz:

About Our Guest:

Craig Iskowitz is a business and technology strategy consultant who is a recognized expert on fee-based advisory platforms and wealth management technology. He is the CEO and founder of Ezra Group, a strategy consulting firm providing technology and business advice to banks, broker-dealers, asset managers, and private equity and fintech firms.

In addition to providing customized solutions to the wealth management industry, Craig publishes WTToday, a blog offering the latest insight on technology for wealth, asset, and investment management professionals.

Craig is also the host of the Wealth Tech Today podcast, where he discusses, dissects, and debates the latest news and trends in wealth management technology.



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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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