Share

cover art for Savvy Wealth with Ritik Malhotra | E324

Fintech Impact

Savvy Wealth with Ritik Malhotra | E324

Ep. 324
•

In this episode of Fintech Impact, host Jason Pereira welcomes Ritik Malhotra, Co-Founder and CEO of Savvy Wealth, to discuss the intricacies of their digital platform designed to empower financial advisors. They dive into the platform's capabilities, its origin story, and the pressing challenges it aims to solve in the financial advisory landscape, enhancing both the advisor's efficiency and the client experience.


Episode Highlights:

  • 00:11: Jason introduces Ritik Malhotra and Savvy Wealth, a platform revolutionizing how financial advisors manage and grow their practice by automating non-client facing tasks and implementing modern technological solutions.
  • 01:11: Ritik shares the journey from experiencing personal financial advisory needs to the inception of Savvy Wealth, driven by his dissatisfaction with traditional advisory services and a vision to enhance the industry through technology.
  • 02:12:Through his personal quest for a financial advisor, Ritik discovered the significance of the advisor-client relationship and the value advisors bring in navigating complex financial decisions, which shaped the philosophy behind Savvy Wealth.
  • 03:51: The realization of widespread advisor frustrations with existing technological and operational constraints led Ritik to envision Savvy Wealth as a comprehensive solution catering to the modern demands of both advisors and their clients.
  • 04:51: Ritik describes the unique approach of developing both the advisory business and the technological platform concurrently, underlining the innovative strategy that sets Savvy Wealth apart.
  • 05:06: The initial focus on improving the onboarding process revealed the broader potential for technology to significantly enhance advisor efficiency and the overall client experience.
  • 07:23: Exploring the pivotal role of technology in reshaping the advisory landscape, Ritik discusses the development of a comprehensive, integrated platform designed to streamline operations and elevate service delivery.
  • 07:50: Ritik details the seamless, automated, and enriched client journey facilitated by Savvy Wealth, from discovery and onboarding to ongoing maintenance and interaction through an intuitive client dashboard.
  • 10:43: Advisors praise the efficiency gains and enhanced client relationships made possible by the Savvy Wealth platform, highlighting the transformative impact on their practice.


Key Points:

  • Savvy Wealth's platform is a testament to the powerful role of technology in augmenting the capabilities of financial advisors, enabling them to focus more on client relationships and strategic advisory roles.
  • The platform eschews traditional, manual processes in favour of automation and integration, ensuring a smooth, streamlined experience for both advisors and their clients.
  • The development of Savvy Wealth underscores the importance of listening to industry needs and working closely with advisors to create solutions that address real, pressing challenges in the financial advisory landscape.


Tweetable Quotes

  • "Excited to do this and share how we're transforming the advisory landscape." - Ritik Malhotra
  • "Making something people want, seeing it solve real problems for advisors, that's what excites me." - Ritik Malhotra
  • "Efficiency isn't just a buzzword; it's the heart of what Savvy Wealth brings to financial advisors." - Jason Pereira


Resources Mentioned

  • Facebook – Jason Pereira's Facebook
  • LinkedIn – Jason Pereira's LinkedIn
  • Woodgate.com – Sponsor
  • https://www.linkedin.com/in/ritikmalhotra/
  • https://www.savvywealth.com/ 

More episodes

View all episodes

  • 409. Finny with Eden Ovadia | E409

    23:38||Ep. 409
    In this episode of FinTech Impact, host Jason Pereira talks with Eden Ovadia, CEO of Finny, a platform designed to help financial advisors grow their businesses organically. Eden shares the origin story of Finny, highlighting how his background in tech and private equity led to the creation of a data-driven solution for prospecting growth. The discussion explores how Finny leverages big data and machine learning to identify potential prospects and detect client intent signals, enabling advisors to effectively match with their ideal clients. Eden also discusses the company's roadmap and the importance of helping advisors articulate their value propositions. This episode is a must-listen for financial advisors seeking to enhance client acquisition, share of wallet, and retention through advanced, data-driven strategies.

  • 407. Solutions by Text with Nick Babinsky | E407

    35:03||Ep. 407
    In this episode of FinTech Impact, host Jason Pereira interviews Nick Babinsky, Chief Product Officer at Solutions by Text (SBT). They discuss how SBT empowers financial services companies to engage with consumers through SMS and other messaging protocols. The conversation covers SBT's history, the benefits of text-based communications, regulatory challenges, and the future of text messaging in the financial industry. Nick shares insights on high engagement metrics, compliance complexities, and the evolving technology landscape. Tune in to learn how text messaging is transforming consumer interactions in the financial sector.

  • 406. Hakkoda with Anand Pandya | E406

    32:30||Ep. 406
    Join host Jason Pereira on 'FinTech Impact' as he discusses the foundational elements of AI, specifically data, with Anand Pandya, head of Financial Services for Hakkoda, an IBM company. In this episode, they dive deep into the evolution of data management, the challenges organizations face in maintaining high-quality data, and the importance of clean data for successful AI implementation. Learn about the history of data waves, the pivotal role of cloud platforms like Snowflake, and how big companies can avoid common pitfalls in the AI landscape. Don't miss this insightful conversation packed with expert insights and practical advice for the future of data in financial services.

  • 405. Knapsack with Mark Heynen | E405

    39:27||Ep. 405
    In this episode of FinTech Impact, host Jason Pereira interviews Mark Heynen, co-founder of Knapsack, an AI-powered platform designed to enhance financial advisory workflows. Mark shares insights on how Knapsack automates administrative tasks by integrating with various data sources and employing natural language agents. He discusses the platform's evolution from a private note-taking tool to a comprehensive agent-based system, capable of handling everything from simple email scheduling to complex tax planning. Mark also touches on the challenges faced in data compliance and the future of AI in financial services. Don't miss this deep dive into how AI is transforming the financial advisory landscape.

  • 404. Flextract with Rajesh Jayaraman | E404

    22:17||Ep. 404
    In this episode of FinTech Impact, host Jason Pereira interviews Rajesh Jayaraman, founder and CEO of Flextract. Flextract is an innovative onboarding tool designed to help financial advisors streamline the client onboarding process by leveraging AI-powered data extraction. Rajesh discusses the origins of the company, the technology behind their product, and how it enhances both advisor efficiency and client experience. They delve into the challenges of managing disparate client data and the future roadmap for Flextract, including dynamic checklists and advanced report generation. This episode is a must-listen for anyone interested in the future of financial technology and client management.

  • 403. ElektraFi with Antonio Zivanovic | E403

    30:38||Ep. 403
    In today's episode of FinTech Impact, Jason interviews Antonio Zivanovic, the Founder and CEO of ElektraFi - an online platform that democratizes access to independent financial guidance for employees. Antonio shares the origin story of ElektraFi, its mission to provide cohesive financial insights and advice, and the innovative ways it supports individuals in managing their finances. Listen in as they discuss the importance of financial well-being, AI integration, and future plans for the platform. Ideal for business owners and employers interested in enhancing employee financial health.

  • 402. FinMate AI with Daniel Yoo | E402

    23:59||Ep. 402
    In this episode of FinTech Impact, host Jason Pereira interviews Daniel Yoo, the founder of FinMate AI, an AI-driven advisor meeting notation software. Daniel explains the origins of FinMate AI, stemming from his frustrations as a financial advisor with the note-taking process. He delves into the various challenges the company has faced, the hyper-competitive market, and how they plan to differentiate themselves by providing a custom, service-oriented approach rather than a purely scalable software solution. Daniel also shares his insights on the evolving landscape of AI in financial services and emphasizes the importance of realistic, honest conversations within the industry. Tune in to learn more about the future of AI in financial advising and how FinMate AI aims to stand out in a crowded field.

  • 401. KayOs with David Weinstein | E401

    30:46||Ep. 401
    In this episode of FinTech Impact, host Jason Pereira talks with David Weinstein, CEO, and co-founder of KayOs, a company helping businesses become AI-native by structuring their data and operations. David shares how KayOs organizes both structured and unstructured data into contextual graphs to enhance AI and agent capabilities within organizations. They discuss the origins of KayOs, the challenges businesses face with data management, and the various tools and models used to make data actionable. The conversation also delves into the future of AI, its ethical implications, and how companies can adopt AI technologies without losing the human touch. Tune in to learn about the innovative approaches KayOs employs to turn business data chaos into order.

  • 400. Episode 400 with Julia Carreon | E400

    39:18||Ep. 400
    In this milestone episode of FinTech Impact, Jason Pereira celebrates the 400th episode with special guest Julia Carreon. Julia, a respected executive with over 25 years of experience in financial services, discusses her impressive career and her stance on digital transformation within the industry. She highlights her notable achievements, including leading digital initiatives at Wells Fargo and Citibank. The discussion delves into the challenges of implementing AI and innovative technologies in traditional banking systems, the importance of execution, and the complexities of integrating new technologies in an industry hampered by outdated systems and organizational bureaucracy. Julia also shares her views on the pitfalls of the robo-advisor hype and the importance of proper onboarding processes. This episode offers a candid, in-depth look at what it takes to drive real change in financial services.