The AdviserTech Show

Installing Adviser Software with a CD?? Remembering the roots of Adviser Technology | S4 E5

In this episode of The AdviserTech Show, Tessa Lee, Managing Director of moneyinfo, sits down with Gary Shepherd, Business Development Director at Sprint, to take a fascinating deep dive into over 50 years of experience they have both amassed in financial services and adviser technology.

Gary reminisces the highlights of his career journey, from driving around with a full tower PC, to falling off a chair at a trade show and the opportunity that happened soon after it.

Gary’s career has spanned from being an appointed rep at Norwich Union, to becoming an Independent Financial Adviser (IFA), all the way to his current role at Sprint.

“Surely somebody else is already doing that, right?” This was Gary Shepherd’s initial reaction to hearing the concept of Fastrak by Sprint Enterprise, for the very first time.

Gary then explains the initial first steps of how Sprint was conceived as a business, and briefly describes how the software works. Sprint’s motive was to address the growing need for better data management and reporting solutions in the financial advisory industry.

Gary highlights how advisers are looking for more control over their client experience. Platforms like Sprint are enabling advisers to make better use of their data, whether that's through improved reporting, better client communications, or seamless integrations. 

Between the two of them, Tessa and Gary have seen it all. They even remark on the earlier days of the industry before web-based applications, where they would often travel around the country using a CD-ROM to install desk-based software for advisers!

There’s also plenty of industry insight about the future of adviser technology, and Gary offers some great advice for advisers looking to streamline their tech stacks.
Tune in to this episode to hear Gary’s journey and learn how Sprint is helping advisers move towards a data-driven future.

Balancing Wealth and Purpose: A Fresh Take on Financial Advice | Oliver and Katherine from Six Degrees | S4 E4

In this episode of The AdviserTech Show, Tessa Lee, Managing Director of moneyinfo, engages in a fascinating conversation with Oliver and Katherine, co-founders of Six Degrees, about rethinking the wealth conversation. Discover how their unique blend of financial expertise and personal philosophy sets Six Degrees apart in the financial advisory landscape.

Oliver and Katherine discuss how wealth management isn't just about the numbers—it's about connecting wealth with purpose. They share how tapping into both the emotional (right-brain) and logical (left-brain) aspects of wealth unlocks a deeper, more meaningful client experience. With a focus on understanding clients' values, purpose, and family dynamics, Six Degrees takes a fresh approach to wealth management, aiming to foster stronger intergenerational connections.

Tessa delves into the Six Degrees philosophy, exploring how this innovative firm handles wealth transfer, family ecosystems, and the importance of values-driven financial planning. The conversation highlights how technology plays a crucial role in creating clarity for clients, enabling them to view their entire financial lives in one place while ensuring a frictionless experience.

Tune in for a deep dive into the future of wealth management and how firms like Six Degrees are pioneering a new, more human approach to financial advice. Stay tuned for more insightful conversations at the intersection of finance, technology, and purpose!

Six Degrees is a forward-thinking wealth management firm founded by Oliver and Katherine. Built on the belief that wealth is deeply personal and tied to values, purpose, and relationships, Six Degrees takes a holistic approach to financial advice. With a commitment to transparency, technology, and fostering meaningful connections, Six Degrees is redefining the wealth conversation for today’s high-net-worth individuals and families.

Your Client’s First Emoji: The transition from email to mobile app | Curtis Berry from TFP | S4 E3

In this episode of the AdviserTech Show, moneyinfo’s Managing Director, Tessa Lee, speaks with Curtis Berry, Client Experience Manager at TFP Financial Planning. They discuss TFP's innovative financial planning strategies and the crucial role of technology in enhancing client service.

Curtis shares his path into financial planning, influenced by his father's career as a financial investigator. He explains TFP's client-centric approach, emphasising their fixed-fee model which fosters long-term client relationships.

The conversation highlights the integration of AI tools at TFP, which streamline administrative tasks and meeting outputs, enhancing efficiency. Curtis discusses their evolving tech ecosystem and the successful implementation of the moneyinfo portal. "When they stepped into moneyinfo, they were overwhelmed with all the stats, figures, and communication options," Curtis notes, reflecting on the positive impact of the portal's features like secure messaging and DocuSign integration.

“I remember seeing my first emoji”, says Curtis, noting how the client-adviser relationship transitions from using email to a mobile app. Curtis mentions how clients send pictures of purchases and holidays; “They feel like they’re in a WhatsApp chat with us." They discuss the trust clients place in the portal for handling everything from simple queries to important document storage.

The discussion also touches on intergenerational wealth transfer, with TFP’s technology facilitating better engagement with younger clients. Curtis explains how their family services enable multi-generational views and interactions, allowing family members to have appropriate access to financial information. A client can manage both his stepmother's and mother's accounts, viewing them separately but easily, which improves the overall experience and makes managing finances across generations smoother.

Curtis advises newcomers to financial planning to challenge the status quo, embrace fresh ideas, and remain open-minded about technological advancements.

This episode provides insights into how TFP leverages technology to improve client relationships and operational efficiency. Tune in to discover their innovative approaches and future plans.

Leadership Unleashed: How to unlock team potential | Sally from Evotra | S4 E2

In this episode of the Adviser Tech Show, moneyinfo’s Managing Director Tessa Lee talks with Sally Meritt, co-founder and CEO of Evotra. They discuss the crucial role of technology in wealth management.

“We started Evotra to help businesses bridge the gap between their tech teams and day-to-day operations,” says Sally, sharing her journey from a Chartered Wealth Manager to a tech leader.

Sally explains how she moved from giving financial advice to working on tech projects. She highlights the importance of getting businesses ready for new tech, training staff, and ensuring everyone adopts the new systems effectively. They dive into common tech challenges, especially dealing with outdated data. Sally emphasises the need for robust data management and how poor data quality can hinder the effectiveness of even the best tech solutions. They discuss how Evotra's mission is to help firms not only implement technology but also maintain and optimise it over time.

“Any project that I've ever worked on, the greatest successes are when the leaders in that business, are all engaged and are on board, helping their teams understand the value that can be unlocked if everyone gets on board.”

Sally points out that the greatest successes come when business leaders are fully engaged and help their teams understand the value that tech can unlock. They also talk about the significant role advisers play in this process, especially when it comes to client-facing technology.

Tessa and Sally also acknowledge the increasing burden of regulations and how technology can help manage this effectively. They talk about the fear of having too much to do with too little time, and how tech can alleviate some of these pressures by automating routine tasks.

Finally, the discussion turns to the exciting potential of incremental changes in tech adoption. Instead of overhauling entire systems, firms can implement smaller, more manageable tech solutions that gradually improve operations and client service. They agree that this approach makes the transition smoother and less daunting.

Listen to this episode for an engaging discussion about how technology can transform wealth management, improve efficiency, and deliver better client outcomes. Stay tuned for more episodes of The AdviserTech Show for insights at the intersection of finance and technology.

Fundment for the Future: The next steps for Financial Platforms | Ola Abdul from Fundment | S4 E1

Join us for an engaging episode of The AdviserTech Show as Tessa Lee, Managing Director of moneyinfo, sits down with Ola Abdul, CEO and founder of Fundment. Discover how Ola transitioned from a background in economics and roles at Aberdeen Asset Management and BlackRock to pioneering innovation in the financial advisory space with Fundment.

In this episode, Ola shares the inspiration behind Fundment and its mission to revolutionise the platform industry. He emphasises the importance of technology in streamlining processes, enhancing user experience, and delivering scalable solutions for advice firms of all sizes.

Tessa and Ola dive into the complexities of the platform business and the significance of integration within the tech ecosystem. They discuss the evolution of Fundment, driven by adviser feedback, and highlight key features that set Fundment apart in the market, such as their advanced drawdown functionality and comprehensive API support.

Looking ahead to 2024, Ola outlines Fundment's plans to continue its momentum, pushing out features that meet the evolving needs of advisers. He also addresses the challenges faced by advice firms and how Fundment aims to support them with flexible, innovative solutions.

Don't miss this insightful conversation on the future of financial advice technology, the power of collaboration, and the impact of digital transformation. Tune in to learn how Fundment is leading the charge in creating a more efficient, client-centric advisory process.

Stay tuned for more dynamic episodes of The AdviserTech Show, where finance and technology intersect to drive the industry forward!

From Pensions to Pixels | Dan McMahon from Hyman Robertson | S3 E5

In this episode of the Adviser Tech Show, moneyinfo’s Managing Director Tessa Lee engages in a captivating conversation with Dan McMahon, the Head of Technology and Innovation at Hyman Robertson Personal Wealth.

“The only way you’re going to close the advice gap is if tech is doing more and more of the heavy lifting, so that’s really my mission as head of tech in this space”, Dan shares his unconventional journey from pension administration to becoming a tech and innovation leader, and the vision he has that goes along with it.

Dan and Tessa delve into the challenges of data management in pension administration, and both recognise the familiarity of too much paperwork and administration-heavy processes in both of their industries. This leads the discussion on to the significance of integration, both within the tech ecosystem and with partners, emphasising the industry's gradual shift towards streamlined processes.

The episode explores moneyinfo’s role in automating workflows, enhancing the client onboarding experience, and facilitating straight-through processing. Dan emphasises the importance of technology in empowering advisers and creating efficiencies, showcasing the journey from manual processes to digital fact-finding and beyond.

The conversation takes an exciting turn as they touch upon the growing role of artificial intelligence in the financial advisory space. Dan shares insights into their exploratory work with Microsoft's open AI service, envisioning AI as a tool to support advisers in document navigation, compliance checks, and client interactions.

Don't miss out on this insightful episode of The AdviserTech Show! Stay tuned for more engaging conversations at the intersection of finance and technology!

Regulation Innovation | Henry Cobb on Navigating Change | S3 E4

In this episode of The AdviserTech Show, Tessa Lee, the Managing Director of moneyinfo, sits down with Henry Cobb, Founder and Head of Research at Elston Consulting, for an insightful exploration of the financial services industry.

Henry unfolds his journey from a guide analyst at Schroders to the visionary founder of Elston Consulting in 2012. Motivated by anticipated regulatory changes such as RDR and Auto Enrolment, Henry's mission was clear: to craft low-cost multi-asset investment solutions empowering advisers to adeptly navigate industry shifts.

Elston Consulting operates at the core of portfolios, funds, and indices. Henry details Elston’s  commitment to empowering advisers, emphasising not just outsourcing but insourcing. This unique approach ensures advisers retain strategic control, brand integrity, and compliance with evolving regulations.

Tessa and Henry delve into the cultural changing landscape within the industry, stressing the significance of active thinking regarding asset location. They explore Elston's pivotal role in helping advisers document and evidence their value statements in harmony with regulatory changes. Henry unravels Elston Consulting's mission, showcasing success stories of aiding larger advice firms in scaling up their propositions.

Don't miss out on this insightful episode of The AdviserTech Show! Tune in for an enriching discussion that unveils the past, present, and future of this dynamic industry.

What’s keeping financial advisers awake at night? | Matt Jeffery from Alpha FMC | S3 E3

How does Matt Jeffery know so much about the things that keep advisers awake at night?

Being a Senior Manager at Alpha FMC, Matt has a broad knowledge of the pressing challenges that financial advisers face day-to-day. In this insightful episode of The AdviserTech Show, Matt and Tessa delve into the intricacies of adviser tech, highlighting transformative strategies and insights that not only address current industry concerns but also shed light on the ways advisers can improve their sleep.

Joking aside, Alpha FMC is a leading global provider of specialist consultancy services to the financial services industry. Matt describes the journey how he got to be Senior Manager, and delves into the wealth of knowledge that has formed his unique insights and understanding of being the adviser’s adviser.

The conversation delves into Alpha FMC's role as a full-service management consultancy, addressing strategies, client experiences, and technology transformations. They hit on the industry's tech challenges, discussing integrations, and Tessa highlights the industry's momentum towards solving problems collaboratively.

...And what is a modern podcast without mentioning AI and machine learning?

Matt and Tessa discuss the power of data analytics, improving compliance, and suitability report creation.

A Friday the 13th conversation without mishaps!

Dive into this engaging episode for more insights on the evolving tech landscape in financial advice.

Ruth Handcock on Transforming the Advice Industry | Octopus Money | S3 E2

Ruth Handcock, CEO of Octopus Money, takes the spotlight in an enlightening episode of The AdviserTech Show. Ruth talks to moneyinfo’s Managing Director, Tessa Lee, about her diverse experience, including running Octopus Investments and setting up a challenger bank. She also mentions the prevailing issue of the advice gap within the financial sector, and Octopus Money's mission to provide access to financial help and guidance for everyone, particularly partnering with employers.

Ruth's insights shed light on the evolving landscape of financial advice, offering valuable perspectives on how to navigate the changing industry. Her extensive experience, including running Octopus Investments and establishing a challenger bank, provides a unique and seasoned viewpoint that can help you stay ahead in a rapidly changing environment.

Ruth highlights the reality: traditional financial advisory services predominantly serve those with substantial assets, leaving a significant portion of the UK population underserved. Octopus Money is committed to rewriting this narrative. They've pioneered a distinctive approach that harmonises technology and guidance, making financial assistance accessible to everyone. Their strategic alliance with employers is a critical component of this mission.

Tune in to this episode of The AdviserTech Show to gather knowledge on the latest industry trends, understand Ruth’s vision for the future of financial advice, and gain valuable insights into how to improve your services.

A Journey in Finance | Insights from the Verve Group | S3 E1

Cathi Harrison, CEO of the Verve Group joins moneyinfo’s Managing Director, Tessa Lee on the first episode of Season 3 of The AdviserTech Show. Cathi shares her journey in the financial services industry, a path she found when her curiosity was piqued by a friend's inheritance and the need for financial advice. Despite not initially studying finance, Cathi started her career as an administrator at a financial advice firm in 2005. Over the years, she evolved into a paraplanner and eventually ventured into entrepreneurship, founding multiple businesses.

Cathi’s journey led to the creation of the Verve Group, a consolidation of various businesses, each offering essential support to financial advisers. She discusses the challenges and complexities of merging these entities into a unified organisation, highlighting the importance of shared technology and streamlined processes. The result is a “one-stop shop” for advice firms, providing comprehensive support for businesses of all shapes and sizes.

Cathi also emphasises the evolving nature of the financial services industry, where firms are increasingly adopting a business-first approach, focusing on infrastructure, operations, and profitability. She believes that embracing change and innovation is essential in this dynamic environment.

Beyond her role at the Verve Group, Cathi discusses her involvement with the Verve Foundation, a not-for-profit organisation aimed at promoting careers in financial planning and advising. She acknowledges the need for greater awareness of these career paths and the benefits they offer, especially among young professionals and career changers.

In closing, Cathi offers insights and encouragement for individuals looking to enter the financial services industry or embark on an entrepreneurial journey. Both Cathi & our moneyinfo MD Tessa Lee emphasise the importance of creating a safe and inclusive environment for everyone in the industry, particularly women and underrepresented groups. Cathi believes in challenging the status quo and working collectively to build a more diverse and innovative financial sector.

This podcast episode provides valuable insights into Cathi Harrison's inspiring journey, the evolution of the Verve Group, and the changing landscape of the financial services industry.