Share

cover art for The Genie with Scott Plaskett | E171

Fintech Impact

The Genie with Scott Plaskett | E171

Ep. 171
•

In this episode, host Jason Pereira talks to Scott Plaskett. As a financial planner, he is in the business since 1993. As a financial planner, he was looking for systems and technologies that would support the need to run the practice.  


Episode Highlights:

  • 01.08: Scott shares how he realized there is the ability to create processes and workflow within the systems.
  • 01.39: After facing several crashes in the system, Scott was told to put a system in place that is running on its own server. 
  • 02.16: Scott gives a piece of insightful information that his firm was one of the first firms to embrace cloud-based technology.
  • 02:30: Scott took the help of salesforce.com, which is the apple of all programs. 
  • 03:49: Jason shares his preference for salesforce and how people often think it is a CRM platform with giant data on top. It is almost like AWS of CRM.
  • 04:35: Jason is curious to know “What does Genie deliver to an advisor who is looking to automate their process better?”
  • 04:45: Scott talks about the four components in Genie: The Marketing, Sales, Process / Fulfilment, and Profit Genie. 
  • 04:55: Scott also gives insights about the phases and automation that one would go through. 
  • 07:26: Most financial advisors grow their business with referrals, and this is extremely important. 
  • 08:48: Scott talks about the education-based marketing program of Genie and how it taps the invisible market.
  • 09:58: Jason stresses the importance of putting some valuable offer or product in the bang-on impactful market.
  • 10:38: Jason asks, “How are you going to articulate your value properly so that clients say wow.”
  • 12:15: Scott explains the entire process and emphasizes that they are already overloaded with work as a financial planner, so it is extremely important to keep track of all the work. This is where the sales genie comes into the picture. 
  • 12:50: Jason agrees that he has never seen an organization succeed without a proper process. 
  • 14:12: Scott discusses the importance of fulfillment in a business. If you don’t deliver on the promise, the entire business is going to fall.
  • 17:40: Jason and Scott discuss the importance of maintaining a uniform process. 
  • 19:31: Scott tells the listeners about the profit genie, which is more about running a better business.
  • 21:56: Scott also guides the listeners that people need to put it in their hat when it comes to building a business. The only way to do that is via information. 
  • 23:48: Jason asks what is giving the users of Genie confidence?
  • 25:02: Scott explains the importance of confidence and how it helps to improve the process and generate profitable revenue. 
  • 27:04: Scott guides his clients to implement the fulfillment genie at first then worry about leads.
  • 29:03: Scott’s vision is to remove malpractice from the advised-based industry. 
  • 30:00: Jason inquires, “What is the biggest challenge while implementing Genie?”


3 Key Points:

  1. Scott throws light on visible and invisible markets. For example, if you are a real-estate agent and you want a property with a waterfront area. The problem is who are the people who want to buy that property, so this comes under the invisible market.
  2. It is important to know that you have a workflow managed by a system so that you and your people always know where people are in the process. 
  3. Jason enquires about those people who have used the Genie platform and how they have benefitted from it?


Tweetable Quotes:

  • “If you are a financial advisor and you don’t have leads coming in then it is not good; it’s kind of like air is to humans as leads is to financial advisors.” - Scott Plaskett
  • “Marketing is all about building rapport.” - Scott Plaskett
  • “Client is paying you for the process.” - Scott Plaskett
  • “Each of the opportunities we identify have different workflows.” - Scott Plaskett
  • “If you want to build a business you got to have a platform in place.” - Scott Plaskett
  • “The perfect sales is when you show the people this is what you need.” - Jason Pereira


Resources Mentioned



More episodes

View all episodes

  • 410. Policy Stream with Philip Setter | E410

    25:53||Ep. 410
    In this episode of FinTech Impact, Jason Pereira interviews Philip Sutter, CEO of Policy Stream, an innovative platform aimed at revolutionizing the life insurance application process for Canadian advisors. Philip discusses his journey in the insurance industry since 2014 and how the challenges faced during COVID-19 led to the creation of Policy Stream. They dive into the current inefficiencies in the insurance sales process and how Policy Stream aims to streamline needs analysis, quoting, application, and compliance for term life insurance. Key topics also include the development hurdles, the cautious engagement with insurance carriers, and the long-term vision for expanding the platform. Tune in to hear Philip's insights on improving productivity for advisors and enhancing the client experience in the insurance sector.Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – SponsorPolicy StreamLinkedIn - Philip Setter’s LinkedIn

  • 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.