CRM Unlocked

In the new era of financial services, the industry is now recognizing the need for a more comprehensive approach beyond just investing. Moreover, clients increasingly seek advisors who can provide holistic financial planning and advice.  In this episode, Sanjeev and Ali talk with Philipp Hecker, Co-Founder and CEO at Bento Engine. Philipp focuses on tech-driven advisor enablement and implementing client-centric growth strategies in the wealth and asset management industries. As someone who believes that wealth, when properly managed, can be a force for good for individuals, their families, and the communities they live in, Philipp is passionate about financial planning, behavioral finance, and educating children about the importance of money and wealth. Passionate about advice beyond investing, Philipp talks with Sanjeev and Ali about how Bento Engine engages and serves clients in moments that matter, how the company elevates the power of CRM to help advisors have better conversations with their clients, and the trends Philipp sees in wealth management. Key Takeaways [01:00] - An overview of Philipp's personal and professional background. [03:39] - The motivations behind the creation of Bento Engine. [06:21] - How Bento engages and serves clients in moments that matter. [12:12] - How Bento generates more client engagement. [16:34] - What technology can do for advisors. [20:02] - The trends Philipp sees in wealth management. [23:42] - What Bento Engine has in store for the future. [30:41] - How CRM revolutionizes the way advisors serve their clients. Quotes [09:29] - "Everybody wins when advisors do the right thing and serve clients comprehensively. Client experience and outcomes are demonstrably better, and the advisor wins by increasing loyalty, net promoter score, and referral rate." ~ Philipp Hecker [16:36] - "We use high-tech to make advisors more high-touch. We unleash the awesome power of technology and the data they have already captured in their CRM systems to give advisors great reasons to reach out in a very constructive way, very human, non-product pushy type of advice-led conversations." ~ Philipp Hecker [20:21] - "The need for human wealth management advice will only go in one direction, and that is up. More and more Americans appreciate the need and opportunity for human guidance to tackle some of their complex problems." ~ Philipp Hecker Links  Philipp Hecker on LinkedIn Philipp Hecker on Twitter Bento Engine Salesforce Wealthbox Connect with our hosts Ali McCarthy Sanjeev Kumar Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

In this episode, Marc Butler talks with Matt Reiner, CEO and Co-Founder of Benjamin. After spending years as both a financial manager for individuals and helping to lead Capital Investments Advisors and Wela Strategies, Matt co-founded Benjamin, an AI fintech company that serves the financial advisor industry. Matt used both Capital and Wela as testing grounds for his technology. Now, Benjamin helps hundreds of firms across the country streamline time-consuming tasks and allows for greater client engagement through technology. Matt believes that with true innovation, RIAs will attract top-tier talent, create efficient and scalable practices, and offer higher-quality personal service to clients at all levels of wealth. Dedicated to helping the financial services industry grow and evolve, Matt talks with Marc about his journey in wealth management and fintech, his motivation for creating Benjamin, and his mission to do everything possible to provide access to financial advice to everybody. Key Takeaways [01:53] - An overview of Matt's professional and personal background. [04:42] - The dynamics of working in a family business. [09:46] - What motivated Matt to create Benjamin. [15:48] - What's next for Benjamin in the coming years. [20:24] - What Matt's podcast, Bridging the Gap, is about. [23:58] - Matt's recommendations for books. [26:30] - The podcast Matt listens to the most. [28:02] - Matt's perspective on wealth management's future. Quotes [05:50] - "Our focus has always hinged on our investment thesis of helping families generate a consistent stream of income utilizing marketable securities that can fill their spending gap in retirement to help them sleep well at night." ~ Matt Reiner [11:39] - "We were growing at a pretty good clip, and it was putting a lot of pressure on our team. The challenge that we were facing was nothing was really integrated. Our team had to manage and maintain their manila folders on the desk, and things were falling through the cracks. And it wasn't anything due to our people. It was more of our process." ~ Matt Reiner [18:27] - "Our ethos is not to be a replacement for technologies that advisors are using. We're not going to recreate a paperwork process, the calendar scheduling process, or a reporting engine. We will tap into the companies that have already done a great job with that and be the air traffic controller." ~ Matt Reiner Links  Matt Reiner on LinkedIn Matt Reiner on Twitter Capital Investments Advisors Wela Strategies Benjamin eMoney Advisor Bridging the Gap Podcast The Ride of a Lifetime: Lessons Learned from 15 Years as CEO Shoe Dog It Takes What It Takes: How to Think Neutrally and Gain Control of Your Life The Daily Stoic Podcast Charles Schwab Fidelity Investments Connect with our hosts Ali McCarthy Sanjeev Kumar Marc Butler Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

The use of data and data-driven tools has increased rapidly in recent years. However, many organizations have yet to be able to effectively utilize this data due to a lack of understanding of how to use it. While there is a growing gap between the available data and its utilization, the effective use of data is predicated on technology but grounded in human behavior. In this episode, Ali and Sanjeev talk with Spenser Segal, Chief Executive Officer of ActiFi. With 33 years in the financial services industry, Spenser has witnessed the dawn of the fintech era. Spenser was named by Investment Advisor magazine as one of the top 25 Most Influential People in the U.S. Financial Advisor Community. Committed to delivering world-class financial advice for both financial advisors and the institutions that serve them, Spenser talks with Ali and Sanjeev about the importance of optimizing human and technological capabilities, why bridging the gap between technology and data utilization is key to driving effective business outcomes, and how he and his team at ActiFi deliver customized services at scale. Key Takeaways [00:57] - Spenser's role in the financial services industry. [03:24] - Why financial firms are struggling to unlock their full potential. [08:14] - How advisors have adopted technology in recent years. [12:40] - Why advisors need help unpacking data and analytics. [19:03] - How institutional partners can help advisors leverage data and technology. [20:50] - A strategy for adopting and implementing technology effectively. [25:21] - The platinum rule. [27:20] - What Spenser has in store for ActiFi in the future. Quotes [03:43] - "Financial firms are struggling to unlock their maximum potential because, ultimately, it is a behavioral change problem more than a technology problem." ~ Spenser Segal [05:08] - "One of the ways we better understand how to do something as robust as understanding a client's needs, translating that into a plan, and being able to execute that plan is to experience that ourselves." ~ Spenser Segal [13:56] - "Anyone can produce a report, but not anybody can teach and coach another colleague to effectively look at the report, to truly understand what they're looking at, translate that understanding into concrete actions, and then have accountability and transparency in implementing those solutions to drive a better business outcome." ~ Spenser Segal Links  Spenser Segal on LinkedIn Spenser Segal on Twitter ActiFi Microsoft Power BI Tableau Salesforce Connect with our hosts Ali McCarthy Sanjeev Kumar Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

Financial firms have to communicate with various audiences, from investors and analysts to the media, regulators, and the general public. Each of these groups has its own specific needs and concerns. With the right PR partner who understands the challenges and nuances of the industry, only then can they develop the right strategies and messages that will resonate with each audience.   In this episode, Ali and Marc talk with StreetCred Communications' Founding Partner, Jason Lahita and Managing Partner, Jimmy Moock. Compelled to reignite his entrepreneurial flame, Jason launched StreetCred Communications. With a deep determination and Integrated Partners as his first client, he built the PR agency he had always envisioned. In March of 2021, Jason's good friend Jimmy joined him as an equity partner and PR Team Commanding Officer. This brought to fruition a dream the duo had often talked about at various industry events. Providing public relations services to financial firms, Jason and Jimmy talk with Ali and Marc about what it takes to be the best public relations professional, what it means for firms to be authentic, and what the future trends in wealth management are from a communication perspective. Key Takeaways [00:48] - The role of Jason and Jimmy in the financial services industry. [03:44] - How enterprise consolidation impacts brand marketing. [08:26] - The backbone of the tech stack. [09:50] - What it means for firms to be authentic. [14:45] - The rules in public relations. [21:00] - The parallels between fintech and public relations. [21:58] - What advisors should consider when communicating with potential clients or the public. [26:36] - The role of technology in enabling client communication. [27:36] - The future trends in wealth management from a communication perspective. [31:33] - How Jason and Jimmy measure their success in serving clients. Quotes [08:35] - "CRM is the backbone of the tech stack. We look at it as the exoskeleton of a technology stack." ~ Jason Lahita [10:37] - "It's important for firms to be their authentic selves, to lean in into the culture of who they are, to carve out a spot for themselves in terms of industry media and able to carve out attention for themselves in front of consumer-facing media." ~ Jimmy Moock [16:43] - "We think of ourselves as the sword and shield for our clients. It's okay to take this personally, and you have to buy into your client's messaging and how they're positioning themselves to the press. Only if you can let yourself go and absorb those messages, emotion, intensity, and passion for what you do can you be the best PR practitioner." ~ Jason Lahita Links  Jason Lahita on LinkedIn Jason Lahita on Twitter Jimmy Moock on LinkedIn Jimmy Moock on Twitter StreedCred PR Joe Duran Goldman Sachs Orion Advisor Solutions Redtail Technology Hightower Advisors Dynasty Financial Partners Focus Financial Partners CI Financial Connect with our hosts Ali McCarthy Marc Butler Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

Customers are the lifeblood of any business. It is, therefore, essential to have a system that can help manage customer relationships. CRM systems can be powerful tools for managing customer data and interactions, but only if used effectively. In this episode, Ali and Sanjeev talk with Michael Toran, Senior Vice President of Information Technology at Relation Insurance Services. In his role, Michael is responsible for all aspects of planning, managing, and securing corporate and business-unit IT operations, software development, and infrastructure for Relation Insurance. With 25 years of insurance industry experience across various disciplines, including prior senior financial and operational roles, Michael brings a well-rounded, business-focused approach to technology management and strategic decision-making. Michael talks with Ali and Sanjeev about how he and his team at Relation Insurance Services deliver customized services at scale in different markets. Michael also provides an overview of industry best practices for CRM, why CRM can be a differentiator in recruiting and acquiring producers, and the importance of having a shared vision when adopting CRM practices.  Key Takeaways [01:14] - What Relation Insurance Services offers its clients. [02:16] - How Michael's firm utilizes CRM platforms effectively. [04:50] - How Michael made CRM integrations scalable, effective, and future-proof. [10:22] - An in-depth look at how Michael integrates CRM technologies. [15:05] - Michael's efforts to promote user adoption. [19:25] - How Relation Insurance Services is structured. [22:24] - Why CRM can be a differentiator in recruiting and acquiring producers. [28:00] - The importance of a shared vision when adopting CRM.  [29:30] - What's next for Relation Insurance Services. Quotes [15:15] - "You can have a great salesperson that's technologically a horrible individual to deal with on a day-to-day basis. They can barely open a laptop or get into their email, but they can close deals and sales. You have to realize that just because they're not a tech-savvy user doesn't mean they're not a valuable member of your sales team." ~ Michael Toran [22:38] - "Depending on where producers come from, they expect a certain level of software. If you don't have a CRM, they're not coming." ~ Michael Toran [28:12] - "Many missteps happen when a salesperson sells to a leader that sees a dashboard and has no idea how much work it is to get to that point." ~ Michael Toran Links  Michael Toran on LinkedIn Relation Insurance CRM Dynamics HubSpot Salesforce RingCentral Microsoft 365 AMS 360 Vertafore Connect with our hosts Ali McCarthy Sanjeev Kumar Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

The integration of CRM with marketing technologies has been a game-changer for businesses. CRM systems are beneficial for automating and managing customer data. Combined with marketing technologies, they can create powerful customer journeys, allow businesses to understand their customers better, and develop more targeted marketing strategies.  In this episode, Ali and Marc talk with Susan Theder, Chief Marketing and Experience Officer at FMG Suite. Susan emphasizes the importance of customer-focused strategies that leverage data and technology to deliver personalized and customized experiences. Having a passion for helping financial professionals grow and market their businesses, Susan was named CMO of the year by WealthManagement.com and a Woman to Watch by Investment News in 2019. Susan talks with Ali and Marc about what draws her to the technology side of wealth management, the power of integrating CRM with marketing technologies, and how she leverages technology to create a personalized client experience. Key Takeaways [01:20] - An overview of Susan's professional career. [04:21] - What draws Susan to the technology side of wealth management. [05:33] - How Susan went from a regulated organization to an unregulated one. [06:38] - What attracted Susan to join FMG Suite. [08:57] - How Susan helps advisors stay current on technology. [12:55] - Susan's favorite thing about working for FMG. [14:17] - How Susan creates a personalized client experience. [18:51] - The power of integrating CRM with marketing technologies. [19:42] - The future of FMG's marketing strategy. Quotes [04:28] - "The ability to facilitate advisors' day-to-day lives and make it easier for them to focus on what they do best is overused in marketing terminology, but it's true. That's what gets them into the business and helps them grow." ~ Susan Theder [14:00] - "Bringing somebody from outside the industry to bring an interesting perspective is sometimes true. But often, it's much better to walk in the shoes of the customer and the people you're serving, especially in our very nuanced and small industry." ~ Susan Theder [20:18] - "There is a place for AI in marketing technology in terms of personalization. But AI is not going to drive that complete client experience because authenticity is something that cannot be automated." ~ Susan Theder Links  Susan Theder on LinkedIn Susan Theder on Twitter FMG Suite Fidelity Investments Pershing Cetera Advisor Group Valerie Brown AIG Vestorly FiComm Partners Megan Carpenter Samantha Russell Robert Kirk InterGen Data Connect with our hosts Ali McCarthy Marc Butler Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

The competitive landscape for advisory services has changed drastically in recent years. The development of digital tools and platforms has made it possible for businesses to be conducted remotely. This shift has resulted in a new breed of advisory services that are more flexible and agile than their traditional counterparts. In this episode, Marc talks with Derek Notman, Certified Financial Planner and a serial entrepreneur in the financial services industry, founding Couplr and Conneqtor among other endeavors. Derek serves clients from coast to coast through his virtual model. He works with entrepreneurs, founders, business owners, startup companies, and their families to realize their hopes, dreams, and goals through the leverage of financial education and his financial planning process. Derek talks with Marc about how consumer expectations and demands have changed over time, how technology has changed the delivery of financial services, and how he revolutionized the lead-generation process. Key Takeaways [02:10] - How Derek got into the financial services industry. [04:28] - What led Derek to establish his own advisory business. [08:21] - Derek's approach to serving his clients. [10:24] - Derek's advice for broker-dealers looking to become registered investment advisors. [13:43] - What Derek's training program, Conneqtor, is about. [16:39] - How Derek revolutionized the lead generation process. [23:51] - What Derek did differently to find clients on social media. [30:04] - Future trends financial advisors should be aware of. Quotes [12:38] - "If you look at our profession, things are going differently. Consumers want the best advisor for them, not just based on the zip code or company they're with." ~ Derek Notman [17:36] - "It doesn't matter how great your knowledge is, your certifications, or your brand. None of the other stuff matters if you do not have actual clients and new clients coming in to work with you." ~ Derek Notman [21:43] - "Advisors didn't get into this business to become lead generation or digital marketing experts. They came into this business to help people with their money, which they should spend most of their time on." ~ Derek Notman Links  Derek Notman on LinkedIn Derek Notman on Twitter Derek Notman on Facebook Derek Notman on YouTube Adam Holt New York Life Insurance Couplr Conneqtor Michael Kitces Intrepid Wealth Partners Connect with our hosts Marc Butler Ali McCarthy Sanjeev Kumar Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

It's human nature to hope for the best and avoid contemplating the worst. But in reality, no one is immune to the trials and tribulations of life. And yet, people don't plan for bad things to happen, and those who provide advice don't like to talk about them. But what if there's a way we could identify life events that might negatively impact our finances? In this episode, Sanjeev and Ali talk with Robert Kirk, Founder and CEO at InterGen Data. Robert is a financial services industry executive with over 30 years of experience. Throughout his career, Robert has developed business-aligned solutions built around the fast-paced evolution of technology and innovation. At InterGen Data, Robert is responsible for establishing, growing, and providing proprietary AI-machine-based learning that helps companies identify when their clients are likely to have important life events occur, what they could be, and how much of a financial impact each could represent. Knowing that a life event could have a tremendous financial impact on a person's life, Robert talks with Sanjeev and Ali about how AI-based machine learning can help banks, financial service companies, and insurance companies predict and identify when their clients are likely to have an important life event and how advisors can help clients prepare for negative events. Key Takeaways [01:15] - What InterGen Data is and how it helps clients. [02:45] - The role of AI in giving users empathy-based data insights. [07:56] - The value AI provides to companies. [11:54] - InterGen's data management and security processes. [15:31] - How advisors can convince clients to plan for negative events. [22:36] - How the pandemic has changed how InterGen manages data. [27:05] - The benefits of working with actuaries. [30:26] - What the Digital Life Series is all about. [34:36] - What's next for InterGen Data. Quotes [05:18] - "Machine learning doesn't give empathy, but it provides the data to build that context around a person where that person can interpret that and then build that empathy." ~ Robert Kirk [16:10] - "If you look at all the financial plans and all the risk systems and tools, they're all going to say to put in X dollars. It's either a dollar-cost average or a goals-based system where you look at a goal over many years. And then they'll run the Monte Carlo scenario. But if you've ever noticed, they're always perfect. How is something bad happening built into the plan?" ~ Robert Kirk [39:25] - "From a marketing perspective, why not have a completely digitized version where people only see what's relevant to them and their next stage of life? More importantly, the cross-sell-upsell opportunities or the understanding of the products." ~ Robert Kirk Links  Robert Kirk on LinkedIn Robert Kirk on Twitter InterGen Data Predictiv  Society of Actuaries Digital Life Series | InterGen Data, Inc. ForwardLane Connect with our hosts Ali McCarthy Sanjeev Kumar Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

Client onboarding is a critical part of any business. It is the first step in building a long-term relationship with the client and sets the tone for how the firm will provide services moving forward.  In this episode, Sanjeev and Ali talk with Miles Burns, Senior Business Development Manager in Financial Services, and Patrick Meyer, Director of Wealth Management at DocuSign. DocuSign helps organizations connect and automate how they prepare, sign, act on, and manage agreements. In their roles, Miles cultivates strategic partnerships in the financial services ecosystem, while Patrick directs DocuSign's wealth management strategies. Miles and Patrick talk with Sanjeev and Ali about the top three trends in wealth management, the challenge of delivering trusted data, and how DocuSign helps clients solve the complexity of data authentication and create a seamless onboarding process. Key Takeaways [01:03] - Miles and Sanjeev's top takeaways from Dreamforce 2022. [04:24] - The top three trends Patrick sees emerging in wealth management. [12:31] - The role of custodians in RIAs. [14:04] - How financial firms deal with the complexity of data authentication. [17:42] - An analogy about how custodians deliver trusted data. [19:37] - How forms add value if custodians already manage data. [23:00] - How financial firms adapt to the younger generation's needs. [26:58] - How DocuSign helps clients streamline their processes. [31:04] - What DocuSign has in store for the future. Quotes [05:50] - "I see wealth management trends fall into three different altitudes. You've got your strategic, tactical, and operational trends. And each one of these trends has a side of the coin." ~ Patrick Meyer [20:38] - "Forms aren't necessarily paper anymore. It's a contract or a collection of data in a structured format and delivered via a consumable file." ~ Patrick Meyer [24:58] - "We know what the investors want because we hear them. But we live and die by compliance, so we are limited in what we can do and how we do it. We’ve got to get creative." ~ Patrick Meyer Links  Miles Burns on LinkedIn Patrick Meyer on Linkedin DocuSign Salesforce Connect with our hosts Ali McCarthy Sanjeev Kumar Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

Innovation and digital transformation are inevitable in today's world. Technology is changing how financial advisors do business, creating new challenges and opportunities. While adopting new technologies can be challenging for financial advisors uncomfortable with change, how can they be best positioned to succeed in the new landscape? In this episode, Ali talks with Valarie Vest, First Vice President of Strategic Planning & Innovation at Cambridge Investment Research. In her role, Valarie is leading innovation and digital transformation to advance the end-to-end experiences of financial advisors and associates. She believes that digital transformation involves technology PLUS. The plus is a change in how we organize around and think about new technologies to improve lives, ultimately changing our mindsets to one of growth, innovation, and the possible. Valarie talks with Ali about how advisors are coping with digital transformation in the workplace, what it takes to help them embrace innovation and digitization, and why some financial advisors are afraid of change. Key Takeaways [00:56] - An overview of Valarie's professional career. [04:53] - How advisors are coping with digital transformation in the workplace. [07:13] - How Valarie creates a framework for digital transformation. [13:33] - What it takes to help advisors embrace innovation and digitization. [15:53] - Why some advisors are afraid of change. [22:17] - Why regulations change along with technology. [25:04] - What the future holds for Cambridge Investment Research. Quotes [08:12] - "Our advisor's feedback helps us to prioritize what is it that is most burning or where those hotspots are so that we can prioritize the work. Digital transformation isn't just something you get done in a year. It's a multi-year journey." ~ Valarie Vest [13:44] - "We often focus on employees resistant to change, which is important to be aware of and understand. But if you focus too much on those resistant, you lose those that are in the front and ready to move ahead." ~ Valarie Vest [22:46] - "All this technology change enables us to meet those changing client expectations and the rapidly changing regulatory environment that our industry is in." ~ Valarie Vest Links  Valarie Vest on LinkedIn Cambridge Investment Research Connect with our hosts Ali McCarthy Sanjeev Kumar Skience Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts