Summary:
In this 7th episode of the Fintech Impact podcast, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Yon Perullo, the CEO of RiXtrema, a United States-based fintech that specializes in helping financial advisors build their practice and assist with the fiduciary responsibilities that they face in their practice.
Show Notes:
●01:01 – RiXtrema started in risk-management in the financial advisement space and evolved into many areas of fiduciary risk management.
●01:32 –Yon began his career as a Director of Quantitative Analytics at FactSet and moved to managing hedge funds and mutual funds.
●03:29 – Yon came to RiXtrema as an early adopter.
●04:11 – RiXtrema created the Portfolio Crash Test for advisors to load their portfolios for their clients to get robust scenario testing.
●10:48 – One of the tools that was developed out of the Portfolio Crash Test is called the IRA Fiduciary Optimizer.
●13:40 –The 401kFiduciary Optimizer is another tool that RiXtrema developed that can, among other things help advisors prospect, to help for new customers.
●18:10 – One of the big selling points behind RiXtrema’s fiduciary tools are that participants have potentially better outcomes at lower costs.
●21:49 – The acquisition of Larkspur included their Planishere software that is a searchable, online database of qualified plans,
●22:22 – The Executive Tab which is a list of the executives at the firm that you are trying to reach.
●25:59 –The Annuity Optimizer allows advisors, or anybody, to compare an existing annuity and the cost of rolling into another annuity.
●34:27 – Yon’s role currently is to pull the reigns back a little on development, and focus on integrating what they have already created, and leveraging it into other avenues.
3 Key Points:
1. RiXtrema provided the Portfolio Crash Test for advisors to load their portfolios for their clients to get strong scenario testing.
2. RiXtrema’s acquisition of Larkspur included their Planishere software that is a searchable, online database of qualified plans.
3. The Annuity Optimizer makes it possible for advisors to compare an existing annuity and the cost of rolling into another annuity.
Tweetable Quotes:
-“Clients want simplicity in the way their workflow happens.“ – Yon Perullo
-“We just launched something in the two tools that we are calling the Executive Tab, which is a list of the executives at the firm that you are trying to reach.“ – Yon Perullo
-“The paradox of choice: everybody wants to have all the options available to them.
Then they are just going to default to whatever is easiest.“ – Jason Pereira.
Resources Mentioned:
●LinkedIn – Jason Pereira’s LinkedIn
●Facebook – Jason Pereira’s Facebook
●Woodgate Financial – Website for Woodgate Financial
●RiXtrema– Website for RiXtrema
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