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Suitability Pro with Shawn Brayman (CEO) | E88

Ep. 88

Summary:

In this 88th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host discusses Suitability Pro with special returning guest, Shawn Brayman, Founder of Plan Plus. With over twenty-five years of experience, Brayman is an expert in providing investment and financial planning solutions to financial advisors. His newest product, Suitability Pro, aims to improve the lives of advisors and their clients by helping them provide better recommendations almost by default. 


Episode Highlights: 

● 00:42: – What is Suitability Pro? 

● 02:53: – What is the entire experience for an advisor using this tool? 

● 03:51: – Brayman describes the Suitability Pro dashboard. 

● 05:49: – They give an overview of bi-direction communication capabilities within the dashboard. 

● 08:53: – Suitability Pro introduces new mechanisms that allow advisors to frame their own professional judgment. 

● 10:09: – A key part of Suitability Pro is maintaining suitability. 

● 12:38: – Suitability Pro provides value by enabling triggers that help advisors know when to coach clients. 

● 14:40: – They discuss caring about client goals over the rate of return. 

● 16:22: – Brayman explores how to help advisors provide value without realizing they’re providing value. 

● 17:39: – What are possible integrations for the product? 

● 23:06: – This product’s new infrastructure will help to avoid conflict that comes when advisors are using different methodologies. 

● 25:14: – They review the five University of Georgia case studies and follow up research. 

● 25:56: – What biases and traps am I falling into as an advisor? 

● 28:08: – Discussion of the challenges of maintaining your own consistency as a professional. 

● 28:49: – Pereira reflects on the value of checklists and standardization of procedures. 

● 30:55: – “We made things complicated to pretend that they had value.” – Shawn Brayman. 

● 33:19: – If he had one wish, what would Brayman change in his industry? 

● 34:42: – What was the biggest challenge in building this product? 

● 37:05: – What excites you most about what you’re working on? 


3 Key Points 

1. Suitability Pro introduces new mechanisms that allow advisors to frame their own professional judgment while standardizing their approach. 

2. One of the goals in developing Suitability Pro is to help advisors provide better financial advice almost by default. 

3. Suitability Pro builds on a legacy of academic excellence as well as the culture that is oriented to best practices in every instance. 


Tweetable Quotes: 

● “Pro is taking the very best that we've learned in goal-based investing, risk profiling, at every level, tolerance for risk, and so on, and all of the pieces around tracking suitability over time." – Shawn Brayman. 

● “A planner should know their client better than anyone else in the world.” – Shawn Brayman. 

● “It's not only what you do, it's that you articulate how you're doing it and you maintain your own consistency.” – Shawn Brayman. 


Resources Mentioned: 

● Episode 6: Plan Plus with Shawn Brayman 

● The LegacyGroup 

●FinaMetrica 

●Redtail 

●Orion 

●MoneyGuidePro 

● The Checklist Manifesto 

● SuitabilityPro 

● Shawn BraymanLinkedIn,Twitter 

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2/11/2020

ConnectionPoint with Daryl Hatton (CEO) | E108

Ep. 108
Summary:In this 108th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host welcomes Daryl Hatton, Founder and CEO of Connection Point, to talk about Connection Point’s crowdfunding model, some major successes challenges the platform has faced, the psychology behind philanthropy, and more.Episode Highlights:● 00:35: – Connection Point is a social commerce company that helps people crowdfund money for personal and professional/non-profit organizations.● 02:50: – Connection Point began as a fundraising site for unregistered and non-charitable non-profits like children’s sports teams.● 05:25: – They were one of the 30 companies included in Facebook’s beta for the Timeline feature to know how it worked ahead of time.● 06:20: – The site allows companies and groups to use their own branding on their funding campaigns.● 07:10: – The site includes technology called Coco Pay to allow companies to help potential customers crowd fund to purchase their product. For example, individuals with mobility issues crowd-funding to purchase a bike.● 13:10: – The platform has now had to prevent defendants in violent crimes from fundraising for their legal defense due to the negative pushback from the community.● 14:45: – The platform can be used to collect subscription or membership payments from supporters.● 17:52: – It is free to begin using Connection Point and even to fundraise (less transaction fees, which no one can avoid) and optional to add a “tip” to each transaction for the platform.● 20:53: – University of California used the platform to raise over $3 million to fund a study into the human microbiome.● 22:50: – Another group funded several projects at Burning Man.● 24:18: – If Daryl could change one thing it would be for people to take a broader view of what crowdfunding can be and be used for beyond the GoFundMe model.● 29:00: – If you can see the impact of your donation, you’re more likely to give again.● 30:22: – The biggest challenge has been funding and finding investors.● 31:50: – What Daryl finds most exciting is the cumulative impact that Connection Point can have.● 32:42: The platform has raised $160 million for over 200,000 projects in over 40 countries so far.3 Key Points1. Connection Point expands how people think about crowdfunding and its potential usecases.2. Millennials are more philanthropic than we give them credit for.3. Small donations on small projects can make a huge cumulative impact on the world.Tweetable Quotes:● “I think it should be all about my customer and their brand experience, not mine. I’m not trying to push my Indiegogo and Kickstarter brand, I’m trying to say hey, what’s your product?” –Daryl Hatton● “One of the things we’re looking at is how do we make philanthropy more of an entertaining experience? Because the feelings we get from giving are very similar to the feelings we get when we consume entertainment, like a movie.” –Daryl Hatton● “Good natured people are a platform” – Daryl HattonResources Mentioned:● Website – Jason Pereira’s● Facebook – Jason Pereira’s● LinkedIn – Jason Pereira’s● FintechImpact.co – Website● Connection Point website – https://connectionpoint.com/● Fundrazr website – https://fundrazr.com/● Community website -● Daryl Hatton Twitter – https://twitter.com/darylhatton● Daryl Hatton Linkedin – https://www.linkedin.com/in/darylhattonFull Transcript
2/4/2020

Limelight Health with Garrett Viggers (Co-Founder) | E107

Ep. 107
Summary:In this 107th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Garrett Viggers. Co-Founder at Limelight Health, a company that is working to digitize the entire experience of insurance applications from start to finish. Garrett Viggers talks about how Limelight Health got started, obstacles in getting the industry to accept innovation, and not trying to be a one-stop solution for everything.Episode Highlights:● 00:08: – Check out JasonPereira.ca to sign up for the newsletter and notifications.● 00:51: – Garrett Viggers describes Limelight Health.● 02:07: – What really drove the foundation of Limelight Health?● 04:35: – How did his first experiences go with insurance companies trying to show them that there is a better way?● 11:16: – Limelight Health is not overextending itself to try to be a policy admin system, CRM, or an enrollment platform.● 11:54: – Are they running into the ‘one magic bullet solution’ syndrome in the insurance world?● 14:56: – It is important to understand the ecosystem.● 16:14: – What is causing the pushback from admins?● 18:12: – What have been the success stories?● 20:41: – The strategy to make things difficult is not a winning strategy.● 27:12: – Jason shares a common podcast saying, ‘The reason that fintech exists is because traditional carriers allowed it to exist.”● 33:21: – What would Garrett change in his business or his industry?● 36:40: – What has been the biggest challenge in his business?● 39:44: – What is the most exciting thing Garrett Viggers is working on?3 Key Points1. Streamlining down to one tech solution has negative effects such as increasing risk not getting a great solution and needs not being met.2. Getting broker admins to accept online enrollment instead of paper is of high value.3. You can’t build your experience for the naysayers who want to operate the way they did 20 years ago.Tweetable Quotes:● “We are really focused on new business renewals and making that a beautiful experience for group products & group carriers working with their distribution partners.” – Garrett Viggers● “We started with medical. We went from phone, iPad, to full desktop because the feedback was, ‘Hey, does it work on Internet Explorer 6?’ We were thinking, can you just use Google Chrome?’” – Garrett Viggers● “We realised that we have to solve the carrier’s problem so they can actually best serve their brokers.” – Garrett ViggersResources Mentioned:● Facebook – Jason Pereira’s● LinkedIn – Jason Pereira’s● FintechImpact.co – Website● JasonPereira.ca – Website● Linkedin –GarrettViggers● Limelight Health – WebsiteFull Transcript
1/28/2020

Utrust with Filipe Castro (CIO) | E106

Ep. 106
In this 106th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host welcomes Filipe Castro, co-founder and CIO of Utrust, to talk about Utrust’s growth strategy, how blockchain payment technology competes with credit cards and other existing forms of payment, the future of payment tech, and more.Episode Highlights:00:55: – Utrust is a platform that enables e-commerce merchants to accept various forms of cryptocurrency as payment.01:24: –Filipe met his co-founders online in 2010 in cryptocurrency and blockchain forums.03:30: –On the merchant’s side, they don’t have to worry about the accounting or conversion of cryptocurrency, because Utrust handles all of that automatically on the back end and the merchant simply receives their US Dollars or Euros or whichever currency they operate under.04:28: – For the user, you select Utrust as your payment method, which takes you to the Utrust website and allows you to select and set up your crypto wallet with a QR code.06:00: – Utrust currently has ten vendors using the platform because they had to select the optimal vendors to start the platform with in order to optimize the experience and collect the data needed to scale up effectively.07:30: – Utrust has competitors, but most of the vendors that were interested in using Utrust approached them, not the other way around, partly because it’s free to integrate.09:23: – Filipe believes Utrust is the best solution because it has the strongest community support and a seamless integration, which is crucial for a blockchain technology.10:17: – Transaction fees are competitive with regular credit cards, at only 1%.11:30: – Currency conversion happens almost instantaneously to protect both the merchant and the consumer, so the merchant gets the price they listed and the consumer isn’t overcharged due to fluctuating conversion.13:04: – Utrust is compatible with any wallet that supports scanning a QR code.14:38: – Having a diverse range of merchants on board with Utrust allows them to collect more accurate metrics to perfect the platform more quickly.19:20: – For the user, there is almost immediate settlement of payment, and for the merchant you get a notification of incoming payment and the settlement depends on the cryptocurrency protocol.22:37: – Filipe is paying attention to growing competition, but acknowledges that we are still in the building phase of this space where major players haven’t entered crypto yet.27:30: – If Filipe could change anything, it would be for all the communities in blockchain to simply get along better and coexist better.28:53: – The biggest challenge has been establishing a company culture and building a team as a startup.29:45: – Filipe is excited by the way Utrust is changing the future of payments to empower consumers and merchants.3 Key PointsUtrust gives online vendors more payment options to be more competitive.Collecting metrics from a deliberately crafted pool of users will enable you to develop and scale your business more quickly.The future of payments is a seamless digital experience.Tweetable Quotes:“We always want to protect the merchant, just to make sure that whatever the quoted price that they put in their system, they’re going to get that minus 1%, always.” –Filipe Castro“We’re trying to get metrics to perfect the system. The best way to get different metrics is to integrate with different types of businesses that have different users, have different patterns of usage, sell different types of goods, have different frequencies.” –Filipe CastroResources Mentioned:Website –Jason Pereira’s WebsiteFacebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactUtrust websiteUtrust TwitterFilipe Castro TwitterFull Transcript