June WealthTech Insights: Banking, Mentorship, and Big Changes
By Jack Sharry
This month on WealthTech on Deck, we heard from industry experts on a variety of topics, including how a transformed RIA aims for greatness, the role of banks in wealth management, and the value of mentorship.
From Broker-Dealer to Boutique RIA: Why Summit Wealth Made the Leap with Randy Morris
Randy Morris is the founder and CEO of Summit Wealth Growth. Previously affiliated with Commonwealth Financial Network, Summit switched to become an RIA before Commonwealth was recently acquired and engaged SEI as a strategic partner. We spoke with Randy about the “why” behind these big changes, and he provided this advice for listeners:
- “Be willing to take a risk” and enact change.
- “Look for strategic partners. You can’t do this alone.”
- “Don’t discount the importance of intentional community.”
Listen to Randy’s episode here.
The Growth Potential of Bank Trusts and Private Banks with Allie Carey
Allie Carey, the chief strategy officer of SEI private banking and wealth management, is optimistic about the important role banks will continue to play in the wealth management industry.
She said:
- “Banks are well positioned to win in wealth management.”
- Predictive analytics and AI will enable banks to provide clients with comprehensive wealth—and life — management.
- Even in the face of technological innovations and automations, advisors must keep in mind that providing financial advice requires emotional considerations.
Listen to Allie’s episode here.
Advancing Women in Finance with Kellan Brown
Kellan Brown is the chief operating and chief development officer of 100 Women In Finance, an international organization with a mission to advance women through education, community, and programs that have an impact. She’s also been recognized with a Disruptor Award by wealthmanagement.com and named a “woman to watch” by Investment News.
In her episode, Kellan spoke about:
- Her career journey through an assortment of male-dominated fields.
- 100 Women in Finance’s goal of seeing 30% of senior investment roles and executive committee positions held by women by 2040.
- The importance of mentorship in supporting career development (both for the mentor and the mentee).
She also posed an interesting question for our audience to consider: Who comes to mind when you think of one person that has made the biggest impact in your career or life?
Listen to Kellen’s episode here.
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