Fintech Impact

In this episode of Fintech Impact, Jason Pereira interviews Diana Cabrices, Founder of Diana Cabrices Consulting. Known as the chief hype woman of the Fintech industry in the US, Diana discusses her role in amplifying brands through creative marketing, storytelling, and brand evangelism. The episode provides insightful guidance on how Fintech companies can enhance their brand presence and connect with their audience more effectively.Episode Highlights:00:11: Jason introduces the podcast and guest Diana Cabrices, highlighting her unique role in the FinTech industry as a consultant focused on brand amplification and storytelling.00:37: Diana explains her work involves helping FinTech companies, wealth tech companies, and solutions providers for financial advisors to amplify their brand. She details her approach to creative marketing, storytelling, and brand evangelism, emphasizing the importance of presenting solutions in a dynamic and accessible manner.04:47: Jason queries Diana on what it looks like to collaborate with her, prompting a discussion on her methodology. Diana outlines the initial steps she takes when working with a new client, which include deep dives into the clients customer feedback, sales calls, and marketing materials.06:29: Diana highlights the value of real customer stories and testimony in making fintech solutions relatable. She explains how she employs social media, content creation, and public speaking engagements to elevate her clients' profiles.07:47: Diana recounts a specific instance where simplifying a client's value proposition into a relatable benefit significantly resonated with advisors, showcasing her ability to communicate complex solutions effectively.09:16: A considerable portion of Diana's work involves educating the market on the problems that her clients' technologies are addressing. This education-first approach helps in creating a movement around a product or service.11:37: Diana reflects on the challenges she faced in recognizing her potential and achieving self-belief. This part of the conversation delves into personal growth and the realization of one's ability to make a significant impact.Key Takeaways:Real, relatable customer stories are crucial in making technology solutions understandable and appealing to a broader audience.Education about the problems a technology solves is as critical as promoting the technology itself, creating a movement around the solution.Balance and health are essential for sustained success and impact, highlighting the need to prioritize well-being alongside professional ambitions.Tweetable Quotes:"In our industry, simplifying complex solutions into relatable benefits is key. It's about making technology accessible and understood." - Diana"Building a movement around a product or service requires educating the market not just about what it is, but the problem it solves." - Diana"Never underestimate the power of real customer stories. They make your solution not just seen but felt." - DianaResources Mentioned:Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – SponsorPodcast Editinghttps://www.linkedin.com/in/dianacabrices/ https://dianacabrices.com/ 

In this episode of Fintech Impact, Jason invites Manish Khatta, CEO of Potomac Fund Management, for an in-depth conversation. Unlike the usual Fintech discussions, this episode sheds light on the unique experience of solving technology challenges from within. Manish shares his journey of developing custom tech solutions, navigating partnerships, and the trade-offs inherent in taking control of one's technological landscape. Episode Highlights:00:10: Jason Pereira introduces the show and guest Manish Khatta, CEO of Potomac Fund Management, setting the stage for a discussion about the uncommon path of solving one's own technology challenges in the asset management space. Manish's role at Potomac as a catalyst for technological innovation will be explored, highlighting how it diverges from the standard FinTech discourse.01:39: The conversation pivots to Potomac's multi-faceted business model, exploring its structure as a third-party money manager, an in-house TAMP offering, and a provider of mutual funds. This part illuminates the complexities and challenges inherent in operating across different distribution channels and the strategic nuances of each.05:23: A candid discussion on the lessons learned from initially mistaking development direction and talent. Manish shares the pitfalls of early software development strategies, emphasizing the financial and operational glass ceilings encountered when outsourcing to ostensibly cost-effective development teams overseas. 08:06: The conversation then moves to Guardrails, Potomac's initial venture into custom software development. This part is particularly noteworthy as it sheds light on the iterative approach to technology development, emphasizing the role of feedback and adaptations in refining a tool tailored for financial advisors. 15:11: The conversation circles back to the pragmatic aspects of deploying new tech, focusing on the necessity of a minimal viable product (MVP) strategy. This pragmatic approach to software deployment highlights the business acumen required to balance ambition with executable, incrementally valuable deliverables. 24:06: The dialogue concludes with Manish expressing hope for greater unity and less divisiveness within the industry. His wish for a more collaborative environment and respect for diverse business models and practices speaks to broader themes of professional respect and sectoral progress. Key Takeaways:Innovation within financial technology can come from necessity and internal challenges rather than external solutions.Building on existing platforms via APIs can serve as a powerful strategy for businesses seeking customized tools without starting from zero. Offering proprietary technology as an added value to existing services can strengthen business relationships and foster more engaging user experiences.Tweetable Quotes:"Transforming tech challenges into in-house solutions has set us on a unique path of innovation." - Manish"Learning from the limitations of outsourced solutions propelled us towards taking control of our tech destiny." - ManishResources Mentioned:Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – SponsorPodcast Editinghttps://potomacfund.com/ https://www.linkedin.com/in/manish-khatta/ 

In this episode of Fintech Impact, Jason Pereira interviews Rick Scruggs, the CEO and founder of Financial Designs. The dialogue primarily explores how successful advisors can scale their practices by not only enriching their value proposition to clients but also integrating technology to enhance the delivery of their services. Rick's vast experience of over 40 years in servicing family business owners and professionals provides listeners with a blend of wisdom, practical strategies, and a vision for the future of financial advising.Episode Highlights:00:11: Jason Pereira welcomes Rick Scruggs and gives an overview of Rick's extensive experience in the financial sector, particularly in serving family business owners and professionals. This sets the stage for a discussion on scaling advisory practices through valuable propositions and technological advancements.02:33: Rick highlights the universal truth of mortality and the significance of financial planning and goal-setting to secure a prosperous future for oneself and their dependents.07:57: The dialogue touches on the importance of having a strategic business plan and annual reports from advisors to align key employees with the business owner's vision and goals.13:35: The conversation shifts towards the role of technology in Rick's business. He shares his philosophy on using technology as a tool to provide solid, reliable information that can be shared with a client's entire advisory team.16:45: Rick outlines the structure of his team and describes the collaborative nature of his business model, highlighting the importance of teamwork in providing comprehensive services to clients.18:13: A specific technology tool, Value Compass, is discussed as an example of how technology can help business owners understand the valuation of their business and identify areas for improvement.22:38: Looking towards the future, Rick shares his vision for leveraging technology like AI and digital communication tools to grow his business and serve more family business owners across the country.27:36: The episode wraps up with Rick expressing what motivates him, focusing on seeing his clients achieve their dreams and impacting their lives positively.Key Takeaways:The power of mentorship and asking the right questions can significantly influence personal and professional growth. Effective financial planning and goal-setting are crucial for securing a prosperous future, acknowledging the inevitability of mortality.Rick Scruggs' approach to integrating technology with a client centred, collaborative business model provides a blueprint for future-forward financial advising.Tweetable Quotes:"We're all here for a short visit on the blue planet. Make a conscious choice on how you're going to live it." - Rick"Nobody wants a drill; they want a one-eighth inch hole. That's how we have to apply technology." - Rick"Teams win games, but a strong defence wins championships. Apply both to your business strategy." - RickResources Mentioned:Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – SponsorPodcast Editinghttps://www.financialdesigns.com/ https://www.rickscruggs.com/ https://www.linkedin.com/in/rick-scruggs-clu-chfc-c-k-p%C2%AE-5257a729/ 

In this episode of Fintech Impact, Jason interviews Jason Early, the founder and CEO of RISR. Their discussion revolves around how RISR is innovating the way financial advisors interact with and provide value to business owners, aiming to maximize the potential of their businesses. They delve into the challenges and solutions in advising business owners on understanding and leveraging their business value effectively.Episode Highlights: 00:11: Jason welcomes listeners and introduces Jason Early, founder, and CEO of RISR. He highlights RISR's focus on helping financial advisors provide comprehensive advice to business owners, emphasizing the importance of understanding the business's value.01:21: Early shares the inspiration behind RISR, rooted in the staggering demographics of private company ownership transitioning in the coming years. He emphasizes the need for better tools and technology to serve business owners effectively, addressing a crucial market demand.03:47: The conversation shifts to the importance of data aggregation and analysis. RISR helps advisors pull together disparate data sources to provide holistic insights into business owners' situations, moving beyond mere valuations to understand the full picture of business health and potential.08:00: The tech-driven approach of RISR in aggregating business data and providing actionable insights is discussed. This includes highlighting the ease with which business owners can onboard and continually benefit from the platform's insights.11:29: Early discusses the support RISR provides to financial advisors, enabling them to confidently enter conversations about business strategy and planning, even in areas outside their immediate expertise.16:08: RISR's ability to track and update business valuation and risk factors in real-time offers businesses and advisors a dynamic tool for monitoring progress and identifying areas for improvement.Key Takeaways:RISR is breaking new ground by equipping financial advisors with the tools needed to comprehensively serve business owners, focusing not just on current value but on strategizing for future growth and stability.The integration of diverse data sources into a cohesive and insightful dashboard empowers advisors to offer nuanced, impactful advice that addresses the specific needs and goals of business owners.Financial advisors are encouraged to adopt a proactive, in-depth approach to business owner advisory, supporting clients through all stages of business lifecycle and transition planning.Tweetable Quotes:"Bridging the gap between financial advisors and business owners requires more than just intent; it requires innovative tools and technology." - Jason Early"Understanding the true value of a business goes beyond numbers; it's about realizing potential and strategizing for the future." - Jason Pereira"Advisors, by embracing technology like RISR, can transform the advice they provide to business owners, making a tangible impact on business growth and succession planning." - Jason Early Resources Mentioned:Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – SponsorPodcast Editinghttps://www.linkedin.com/in/jason-early-a2379429/ 

In this insightful episode of Fintech Impact, Jason engages with Brian Portnoy and Andrew Smith Lewis, pioneers behind Lydia, a groundbreaking venture that marries behavioral finance and artificial intelligence. This dialogue explores how Lydia is set to revolutionize the way financial advisors interact with clients, making the advisory process more human through technology.Episode Highlights:00:47: Andrew takes the lead to describe Lydia's vision. He portrays Lydia as an empathetic AI collaborator, designed to improve advisors' interactions with clients for better outcomes. He emphasizes the project's humanistic approach, highlighting the ambition to use technology not as a replacement but as an enhancer of human capabilities. This vision challenges conventional fears about technology undermining human roles.04:12: Both Brian and Andrew narrate their personal and professional journeys, leading up to their collaboration on Lydia. Their stories emphasize the value of cross-disciplinary insights in creating solutions that address complex challenges, like enhancing the advisory process with AI.18:24: The discussion about Lydia's technological backbone emphasizes its unique approach of remembering and learning from interactions with advisors. This personalized touch demonstrates how AI can be tailored to add value to professional growth and client relationships.24:41: Toward the end, the conversation pivots to the broader implications of Lydia and similar technologies on the industry. Jason Pereira and his guests contemplate the future of financial advising amid rapid technological advancements, highlighting the potential for transformative change in how advisors connect with and support their clients.Key Takeaways:Lydia represents a significant leap forward in integrating behavioral science and AI to enrich financial advisory services. The technology aims to deepen the advisor-client relationship, making advisory processes more intuitive and empathetic.The collaboration between experts in behavioral finance and AI underscores the potential of interdisciplinary approaches in tackling industry challenges. By focusing on the human aspects of financial advising, Lydia aims to enhance the quality of advice and client outcomes.The development of Lydia emphasizes the importance of personalized learning and growth for financial advisors. Through AI, advisors can gain nuanced insights into their practices, evolving their approach to meet client needs effectively.Tweetable Quotes: "Lydia is about amplifying human brilliance, not replacing it with technology." - Andrew"Understanding your clients goes beyond the financial; it's about human connections." - Brian"In the era of AI, embracing technology to enhance our humanity is not just possible; it's necessary." - AndrewResources Mentioned:Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – SponsorPodcast Editinghttps://www.linkedin.com/in/brianportnoy/ https://www.linkedin.com/in/aslives/ 

In this episode of Fintech Impact, Jason interviews Chris, the Managing Director of Taiko Advisor. Taiko Advisor, powered by its parent company Taiber Kosmala and Associates, leverages institutional research and technology to offer bespoke investment solutions through an OCIO (Outsourced Chief Investment Officer) model. The conversation delves into the establishment of Taiko, its value proposition for financial advisors, and the nuanced details of operating a tech-enabled OCIO in today's financial environment.Episode Highlights:00:10: Jason introduces the episode and welcomes Chris from Taiko Advisor, setting the stage for a conversation about how Taiko combines traditional investment consulting with modern technology to create customized investment platforms for financial advisors.03:41: Delving deeper, Jason probes into the partnership dynamics between Taiko and investment managers, exploring how Taiko sources managers through an institutional lens, and the due diligence involved in these partnerships to ensure clients receive competitive pricing and access to unique investment opportunities.05:35: The narrative progresses to how Taiko implements these tailor-made investment programs. Chris outlines how strategies are built out within the advisors' systems and how Taiko's unique portal facilitates direct communication and trading requests between advisors and Taiko's back-office team.07:07: Transitioning to the technology and discovery phase, Chris emphasizes the importance of understanding each advisory firm's unique setup and needs, discussing how Taiko customizes its services to align with clients' existing technologies and processes.09:48: The conversation wraps up with insights on the ongoing support Taiko provides, including quarterly investment committee meetings that offer in-depth reviews of model portfolios, manager performance, and relevant market observations.12:56: Looking to the future, Chris speaks about Taiko's plans to expand its offerings, particularly within the alternative investment space, leveraging the team's institutional experience to source compelling private equity, credit, and real assets opportunities.Key Takeaways Taiko Advisor offers a unique value proposition for financial advisors by providing institutional-grade investment consulting combined with scalable technological solutions.The OCIO model enables advisors to outsource complex investment decisions, allowing them to focus on client relationships and business growth.Continuous innovation, particularly in the realm of alternative investments, reflects Taiko's commitment to addressing evolving market demands and advisor needs.Tweetable Quotes:"Leveraging institutional heritage with innovative technology allows us to serve advisors in a scalable format." - Chris"Our aim is to empower advisors to grow their business and serve their clients better." - Chris"Introducing scale to your business doesn't mean losing personalization." - ChrisResources Mentioned: Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – SponsorPodcast Editinghttps://www.linkedin.com/in/cahorvath/https://www.taikoadvisor.com/

In this episode of Fintech Impact, Jason talks to Tom Rieman, CEO and founding partner of Practice Intel. Practice Intel is a platform that leverages a data-driven approach to aid advisors in understanding and expanding the organic growth of their businesses. Through detailed insights into their operational effectiveness and the impact of their advisory relationships, the platform aims to illuminate pathways for improvement and scaling. The conversation delves into the origins of Practice Intel, the role of data in refining advisory services, and how advisors can leverage these insights for substantial growth.Episode Highlights: 00:08: Jason Pereira shares an overview of Practice Intel's mission to enhance advisory growth through data analytics. Tom Rieman expresses enthusiasm about the platform's capabilities and its genesis from a realization of the industry's commoditized nature and the power of data in distinguishing exceptional advisors.02:32: Tom highlights the transformative potential of bringing industry-level research to the individual practice level, allowing advisors to measure and improve upon key advice attributes as perceived by their clients. This marked a departure from general industry insights to actionable, practice-specific data.05:47: The dialogue examines the relationship between advisor perceptions of their service quality and client-reported experiences. This gap often reveals areas for significant improvement, illustrating the platform's role in helping advisors close the divide between expectation and reality.11:12: The conversation turns to the implementation and feedback process for advisors using Practice Intel. Tom shares anecdotes of advisors' realizations and actions following insights gathered from the platform, showcasing the tangible effects of data-driven improvements on advisory practices.21:03: Tom expresses optimism about the potential to shift a significant portion of the industry toward delivering on the full promise of advisory services through data-driven insights, emphasizing the transformative impact this would have on clients and the profession as a whole.Key Takeaways:The transition from industry-level insights to actionable, practice-specific data can significantly enhance the effectiveness and growth of financial advisory services.Comprehensive advice, deep understanding of client values and goals, and trust form the foundation of high-value advisory relationships that encourage client advocacy and loyalty.Real-time feedback and dynamic insights into the advisory process empower advisors to iterate and improve their services continuously, aligning more closely with client needs and expectations.Tweetable Quotes: "Understanding the gap between how advisors perceive their service and the actual client experience can unlock transformative growth opportunities." - Tom"The power of data is in its ability to prompt reflection, action, and improvement in the most critical aspects of financial advisory." - Tom"Elevating the financial advice profession is not just about enhancing advisor success; it's about fundamentally improving client lives and outcomes." - JasonResources Mentioned: Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – Sponsorhttps://www.linkedin.com/in/tom-rieman/https://pracintel.com/home 

In this episode of Fintech Impact, host Jason Pereira welcomes Ryan VanGorder, CEO of Opto Investments, to delve into how Opto Investments revolutionizes private market investments through technology. Throughout their discussion, they explore the challenges of information fracturing in the private markets and how Opto aims to bridge that gap for the wealth management community.Episode Highlights:00:11: Jason Pereira introduces the episode, highlighting the focus on Opto Investments, a tech-driven solution aiming to streamline the fragmented private market landscape. This introduction sets the stage for an in-depth exploration of how technology can enhance wealth management.00:29: Ryan VanGorder shares Opto Investments' mission to integrate private markets into modern wealth management more seamlessly. He emphasizes the company's partnership-driven model, which includes holistic portfolio construction, intuitive workflows, and customized solutions tailored to advisors' needs and their clients.01:21: The conversation turns to the origin of Opto Investments, conceptualized by tech entrepreneur Joe Lonsdale. Ryan details how the vision for Opto was to create a tech-centric platform for private investments that prioritizes alignment with client interests, unveiling the strong foundation and ambitious $45 million Series A funding that propelled the company forward.02:27: Ryan elaborates on the inherent challenges within private markets, including the opaqueness and accessibility barriers. He outlines Opto's three-pillar strategy to address these issues: alignment of interests, exclusive access to untapped opportunities, and tech-driven efficiency, aiming to demystify the private markets for advisors and their clients.04:37: This segment dives deeper into each of Opto's foundational pillars. The discussion covers how co-investing establishes trust, the importance of exclusivity in accessing alpha, and the significant role of technology in simplifying the investment process, from portfolio construction to post-trade management.09:14: Ryan details the technological advancements Opto implements to streamline the cumbersome processes traditionally associated with private market investments. From pre-trade analysis to tax reporting, Opto seeks to replicate the ease of public market transactions for private market investments.Key Takeaways:Opto Investments' technology-driven approach is designed to make private market investments more accessible and efficient for wealth managers and their clients, emphasizing the need for alignment, exclusive access, and operational efficiency.Co-investing not only builds trust with advisors but also demonstrates Opto's commitment to their investment choices, setting a foundation of shared interests and objectives.The future of Opto Investments lies in enhancing its platform to facilitate even smoother transitions and interactions within the private markets, promising a significant shift towards greater transparency and efficiency.Tweetable Quotes:"Bringing technology to investors and advisors to confidently invest in private markets eliminates the opaqueness and magnifies opportunities." - Ryan VanGorder."Our mission is to reshape how wealth management perceives private markets, offering technology as the bridge to simplify the complexities." - Ryan VanGorder."The heart of Opto Investments lies in solving inefficiencies within the private market space, paving the way for clear, accessible investment pathways." - Ryan VanGorder.Resources Mentioned:Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – Sponsorhttps://www.optoinvest.com/ 

In this episode of Fintech Impact, Jason interviews Gary Fooks, CEO and Co-Founder of 8Twelve Mortgages. They dive deep into how 8Twelve Mortgages is revolutionizing the mortgage broker industry by enhancing the collaboration experience among advisors, mortgage brokers, and consumers through digital reinvention. This discussion sheds light on the motivations behind the creation of 8Twelve Mortgages and how it's setting new standards for efficiency and customer satisfaction in the mortgage space.Episode Highlights00:50: Gary delves into the inception story of 8Twelve Mortgages, painting a picture of a mortgage brokerage envisioned as a one-stop digital shop. He draws comparisons to Amazon's disruption in retail, aiming to mirror such efficiency within the mortgage sector. This innovative ambition underlines 8Twelve's foundational goal: to streamline and modernize the often cumbersome process of mortgage transactions for all parties involved.01:45: Gary outlines his methodology for revolutionizing the mortgage process, stressing the importance of direct involvement and the incremental introduction of efficiencies. By engaging directly with families and optimizing each step of the mortgage process, 8Twelve has significantly enhanced the speed and effectiveness of their service, a testament to their commitment to innovation and customer care.04:16: Gary explains how 8Twelve leverages technology to overcome the inefficiency and manual nature of traditional mortgage brokering. By automating and streamlining the process, 8Twelve not only improves the client experience but also empowers brokers to handle transactions more efficiently, choosing to grow their business or achieve better work-life balance.05:02: In this segment, Gary talks about the integration of financial advisors in the mortgage process, ensuring they remain informed and involved throughout their client's journey. This collaborative approach underscores the importance of maintaining the advisor-client trust continuum and aligning mortgage solutions with the client's broader financial objectives.06:27: Gary and Jason discuss the tangible impact of 8Twelve's innovations on the mortgage process, particularly how they reduce the time and effort involved. Gary's insights reveal how technology not only accelerates transactions but also enhances the quality of service provided to both consumers and advisors.Key Takeaways8Twelve Mortgages is pioneering a digital reinvention in the mortgage brokerage space, emphasizing efficiency, transparency, and improved collaboration.By integrating technology into every step of the mortgage process, 8Twelve has significantly reduced transaction times and enhanced the consumer and advisor experience.The future of mortgage brokerage lies in holistic, technology-driven solutions that proactively manage and optimize clients' financial goals and outcomes.Tweetable Quotes"In our quest to disrupt the mortgage industry, we've embraced technology at every step, proving that efficiency and clarity are not just possible; they're essential." - Gary Fooks"8Twelve Mortgages isn't just changing the game; we're redefining how stakeholders experience the mortgage process, from initiation to completion." - Gary FooksResources MentionedFacebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – Sponsorhttps://8twelve.mortgage/https://www.linkedin.com/in/garyfooksmortgages/