May WealthTech Wrap-Up: AI, Alts, WaaS, and More
By Jack Sharry
Whatever your industry sources—trade publications, podcasts, or personal connections—you’re reading and hearing about artificial intelligence (AI), alternative investments, and what clients expect from wealth managers. Recent WealthTech on Deck guests are authorities worth listening to.
Alternative Investments: Trends, Challenges, and Opportunities with Neil Bathon
Neil Bathon is the managing partner of FUSE Research Network. In a recent episode, he shared some of his firm’s research into alternative investments, including the major players, distribution partnerships, and challenges ahead.
Here’s some of the advice that Neil shared with listeners:
- Select the right partners.
- Prioritize education for financial advisors.
- Expect the unexpected.
Listen to Neil’s episode here.
Wealth as a Service: The Future of Wealth Management with Justin Singer
Justin Singer of EY leads the US Wealth and Asset Management Business Consulting Service and the US Retirement Campaign. He spoke about the trend described in an EY white paper as “Wealth as a Service (WaaS).”
Singer defined WaaS as integrated, cost-effective, scalable solutions that enable traditional financial institutions and some nontraditional new competitors to deliver wealth management in a turnkey way.
Some of Justin’s key takeaways were:
- “Holistic financial advice is the future.”
- “As firms consolidate onto a more integrated platform, they’re going to be able to connect the disparate pieces that they offer to the client today in a more seamless way.”
- WaaS can address the “cost to comply” with regulatory and ease the way for companies to operate successfully and compliantly in the space.
Listen to Justin’s episode here.
AI-Powered Meeting Management for Financial Advisors with Arnulf Hsu
Arnulf Hsu is an experienced entrepreneur and the founder and CEO of GReminders, an AI-powered meeting management platform for financial advisors. GRreminders integrates with a range of customer relationship management and other systems to maximize saving time and serving clients.
Arnulf said:
- Efficiency is key, and AI-powered platforms like GReminders can unlock efficiency for advisors with features like pre-meeting briefs, note-taking summaries, call summaries, action items, and more.
- Advisors need to take advantage of AI to stay competitive.
- Tracking opportunities is one of the best ways for advisors to grow their business.
Listen to Arnulf’s episode here.
Building a Full-Service Wealth Management Platform with Mike Capelle
Mike Capelle is the co-founder and co-CEO of Modern Wealth Management, a 2-year-old RIA with a platform-based approach that moves beyond standard financial planning and investment advice. He described how Modern Wealth is working to meet the evolving needs of an expanding group of investors building wealth:
- “The leading edge of the independent space continues to broaden the scope of services that clients need and demand and want,” he said.
- Tax preparation, estate planning, and insurance are important pieces of the multi-generational financial planning process.
- A combination of strategic acquisitions and organic growth has enabled Modern Wealth Management to evolve.
Listen to Mike’s episode here.
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