remote. We’ve done all our client meetings and road showsover Zoom, Micrsoft Teams or WebEx — whatever the clientaccepts. Technology is becoming much more accepted.
Advisors are also learning that in order to meet theirclients — and they’re not going to meet them in person —they’re going to do that over video or a webinar.
We’re very focused right now on the front office capabilities, having that investor client portal and having thebest way [through which] the advisor can easily and readilytell the investor what they need to do, say, with a bonus orsomething that happened in their account or that’s happening in the market.
But they can’t do that remotely with their home officewithout technology, andthey can’t do their jobs reallytoday without technology.
Otherwise, they don’t haveaccess to all the files.
One of my best friends is
a CPA who has to go into
the office to get files. I’ve
asked why she can’t just
bring them home or have
them uploaded and scanned.
But if you’re not used to that,
you can’t operate that way.
It’s just crazy
Technology is being
adopted faster than ever.
That’s a good thing for allof us. Women naturally liketo build relationships, andthey take those relationships seriously. They makegood financial planners andfinancial advisors because they’re very good at that. They’realso eager learners, want to learn new things and desire toget ahead.
They’re the ones adopting technology faster than they havein the past. They’re learning that once you do that, your life isso much easier and better. You have more free time.
You want to make sure there’s technology out there thatmakes you more efficient and is easy to use versus technologythat, say, is just starting out or that you try out just for the sakeof having technology.
Being a CEO of a technology firm every day, our clients askus to help them do more with less. That’s what they need. Theyinvest [in technology] to make themselves more efficient. Theyknow they need technology to help make that happen.
It’s an interesting time right now. I’ve often said that, buteven more so today — there’s never been a better time to betechnology. We can really change how people work, how advisors work, and how investors and advisors collaborate.
There has never been a better time to be in technology andto actually leverage technology. It’s both — to be in it, but alsoto leverage it to your benefit. That’s important.
RUDIN: It’s a must. In the past, what we’ve seen in running atechnology company is that you could sell the technology, butthat didn’t mean it was going to be adopted and used.
There are some jokes about that right now.
Who’s in charge of digital transformation at your company?
The CEO, CTO or COVID- 19? There’s a cartoon with a wreck-
ing ball with a COVID- 19 label on it that’s located outside an
office, where people are saying, “Digital transformation is not
going to be coming our way.”
It’s really been the push
or the shove that every-
one’s needed, even though
[the need to embrace digital
transformation] has always
been there. It’s not even new.
Who or what are youfollowing in termsof where financialservices and its digitaltransformation areheaded?
NASH: April and I probably
have a similar network and
friends. I lean on them a lot
and talk to them a lot — such
as Lori Hardwick and Noreen
Beaman. [Hardwick is CEO
of wealthtech at Red Rock
Strategic Partners and chair
of Riskalyze, while Beaman
is president of Orion Advisor Solutions and earlier was CEO of
Brinker Capital, which recently merged with Orion.]
The three of us get together and help each other. We grew
up together in the industry. Noreen and I have sat side by side
for about 25 years — working on some issues and tackling some
As for what I would be watching, I would say LPL Financial.We’re working with them right now, and they’re doing somefascinating things and building their brand and their capabilities. They’re acquiring [other firms] and doing a lot from astrategic perspective. They stand out.
Also, looking at the RIA world, we’re close to firms likePershing and Schwab, and what’s happening from a custody perspective — making things a lot more automatedand efficient with easy onboarding and other steps that areimportant today.
In financial services, Wells Fargo is reinventing itself.They’ve hired a lot more leadership. It’s been interesting to
Having the type of economy
we have now, with more
and more of those in the
next generation becoming
entrepreneurs — something
like 26% — and this includes
women, the barrier to
starting your own business
just isn’t there anymore.