WealthTech on Deck

By: LifeYield
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  • Summary

  • WealthTech on Deck is a show featuring meaningful conversations with financial services leaders. Our host, Jack Sharry, engages financial services executives that are solving specific challenges around fintech ecosystems and household wealth technology.
    Copyright LifeYield, LLC
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Economics Management Marketing Personal Finance
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Episodes
  • The Future of UMH with Scott Smith

    The Future of UMH with Scott Smith
    Jan 14 2025
    UMH is changing the world of wealth management, helping clients earn more and keep more through tax-smart, multi-account coordination. Many advisory firms recognize the benefits of UMH but often face challenges with its adoption. Having access to the right tools and technology solutions, however, best positions firms and advisors to increase assets under management. In this episode, Jack Sharry talks with Scott Smith, Director of Advice Relationships at Cerulli Associates and member of the CFP Board's Digital Advice Working Group. Scott has more than 20 years of experience in the financial services industry and leads Cerulli's research on investor behavior and advisory relationships. His research helps clients understand how to optimize their platforms. Jack and Scott discuss UMH, its core elements, and how it revolutionizes financial advisory services. Scott also unpacks his findings on UMH adoption, the challenges advisors face in its implementation, and the innovative solutions paving the way forward. In this episode: [02:05] - Implementing UMH [04:58] - The core elements of UMH [07:19] - Research methodology and findings on UMH adoption [13:09] - Asset location and its complexities [16:02] - Identifying and addressing barriers to UMH implementation [19:44] - The growing demand for retirement income solutions [23:02] - The future of asset location and income generation [25:31] - Scott's key takeaways [28:32] - Scott's interests outside of work Quotes [14:25] - "People are just getting overwhelmed by the number of accounts they have and the number of passwords they have. Anything we can do to make a client's life easier, bring those things together, and not have them worry about is a compelling story." ~ Scott Smith [25:43] - "Every tax optimization strategy is great, but it only matters if advisors use it. So, lack of adoption is the barrier to real impact." ~ Scott Smith [26:14] - "It (tax optimization strategy) has to be easy to understand. It has to be easier for advisors to use than what they're doing right now. And it has to be easy to explain the benefits to clients." ~ Scott Smith Links Scott Smith on LinkedIn Cerulli Associates 55ip EY Vanguard Morningstar Envestnet Morgan Stanley Fidelity Investments Charles Schwab Kismet Improv Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook
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    33 mins
  • Mapping the Future: Turning Financial Conversations into Action with Adam Holt

    Mapping the Future: Turning Financial Conversations into Action with Adam Holt
    Jan 7 2025
    In this episode, Jack Sharry talks with Adam Holt, CEO and Founder of Asset-Map. Adam was a financial planner frustrated by financial planning. The long, research-packed reports he prepared for client meetings didn't engage clients or provide clarity. Adam realized that to serve clients better, he needed to help them focus on what matters most, making good financial decisions so they could reach their goals. This mindset led him to found Asset-Map. Adam discusses how visualizing goals drives meaningful financial actions. He also highlights how financial advisors can prepare for major shifts in wealth transfer and client expectations in a tech-enabled era. From the great wealth transfer to the importance of engaging multi-generational households, Adam sheds light on how tools like Asset-Map can help advisors deepen client relationships and simplify financial planning. In this episode: [01:12] - Adam's background and the inspiration behind Asset-Map [05:03] - How Asset-Map works [08:21] - How Asset-Map integrates with other financial planning tools [13:00] - The role of AI in financial planning [16:32] - The great wealth transfer [19:34] - Asset-Map's global adoption [20:57] - Adam's key takeaways [22:05] - Adam's interests outside of work Quotes [03:47] - "There are a lot of people that have created a significant amount of success. They weren't worried about whether they could meet their retirement goals. They worried about the complexity." ~ Adam Holt [05:27] - "When you think about financial decisions, what's the most important thing? It's not the finances. It's the people." ~ Adam Holt [14:23] - "Advisors who start to adopt these tools (technology and AI) and find ways to deliver more of themselves to their customers are going to dominate and gather more assets. They're going to scale, they might have margin compression, and they're going to win long-term." ~ Adam Holt Links Adam Holt on LinkedIn Asset-Map eMoney Advisor MoneyGuidePro Morningstar YCharts Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook
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    25 mins
  • 2024 Year-End Wrap-Up: The Dawning of UMH

    2024 Year-End Wrap-Up: The Dawning of UMH
    Dec 17 2024
    This week, WealthTech on Deck producer Matt Nollman takes over hosting duties to interview Jack Sharry about the podcast’s standout moments of 2024. They discuss the evolution and future of UMH, including the transformative impact of LifeYield’s recent acquisition by SEI. Jack highlights pivotal industry conversations with leaders advancing UMH capabilities, explores strategies for overcoming implementation challenges, and emphasizes the importance of innovation for financial advisors and firms. Jack also shares key career advice that has shaped his professional journey. In this episode: (00:19) - Year-end wrap-up and review (00:58) - The dawning of UMH (03:10) - Defining UMH and its importance (04:41) - Key elements of UMH (07:43) - UMA vs UMH (09:15) - Memorable episodes from 2024 (13:25) - AI, research, and the digital frontier (15:01) - Building multi-account UMH capabilities (19:05) - Career advice and closing thoughts Quotes “Through this acquisition, SEI will be the first in the industry to provide real-time, automated, unified managed household or UMH capabilities in a cost-effective, fully bundled overlay solution.” ~ Jack Sharry “The single biggest challenge we find is getting all the departments, all the silos to work together. And that is also why it is important to have a single executive sponsor or leader.” ~ Jack Sharry “Improving after-tax returns and income is inherently a multi-account exercise.” ~ Jack Sharry Links SEI: https://www.seic.com Morgan Stanley: https://www.morganstanley.com MoneyGuide Pro: https://www.moneyguidepro.com Tifin: https://tifin.com Wells Fargo: https://www.wellsfargo.com EY: https://www.ey.com Franklin Templeton: https://www.franklintempleton.com Matt Nollman: https://www.linkedin.com/in/mattnollman Mark Hoffman: https://www.linkedin.com/in/mark-hoffman-16946359 Martin Cowley: https://www.linkedin.com/in/martincowley WealthTech in the Weeds with Charles Smith: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-charles-smith WealthTech in the Weeds with Rose Palazzo: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-rose-palazzo-and-mark-hoffman WealthTech in the Weeds with Jeff Benfield: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-jeff-benfield-and-martin-cowley WealthTech in the Weeds with Eric Lori: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-eric-lordi-and-martin-cowley WealthTech in the Weeds with Roger Paradiso: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-roger-paradiso The Evolution and Resurgence of SEI with Ryan Hicke and Sean Denham: https://wealthtechondeck.com/episodes/the-evolution-and-resurgence-of-sei-with-ryan-hicke-and-sean-denham The Age of the New Wealth Portfolio with Erich Holland: https://wealthtechondeck.com/episodes/the-age-of-the-new-wealth-portfolio-with-erich-holland Unlocking the Potential of Generative AI in Asset and Wealth Management with Amy Young: https://wealthtechondeck.com/episodes/unlocking-the-potential-of-generative-ai-in-asset-and-wealth-management-with-amy-young Unlocking AI’s Potential in Wealth Management with Rob Pettman: https://wealthtechondeck.com/episodes/unlocking-ais-potential-in-wealth-management-with-rob-pettman WealthTech in the Weeds with Michael Liersch: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-michael-liersch-and-harry-bartle Scott Smith: https://www.linkedin.com/in/scott-smith-148360 Financial Advisor Magazine: https://www.fa-mag.com Frances Frei: https://www.linkedin.com/in/francesfrei Edward Jones: https://www.edwardjones.com JP Morgan: https://www.jpmorgan.com Merrill: https://www.ml.com Harvard Business School: https://www.hbs.edu Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook
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    25 mins

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