WealthTech UnWrapped

In this WealthTech Unwrapped episode, Ned and Stephanie delve into the realm of RegTech, with a specific focus on escheatment. The conversation unveils the challenges posed by outdated state laws and explores innovative tech solutions designed to streamline the escheatment process, enhancing overall efficiency.The episode signals a shift in the industry's approach, prioritizing tangible customer pain points over theoretical problems. Beyond customer acquisition, there's a growing emphasis on customer engagement and retention, leveraging tech innovations to simplify complex compliance processes amid evolving regulatory landscapes.Stephanie draws parallels between her past experiences in the airport space, highlighting the indispensable roles of sales and organizational partnerships in solving complex problems. The discussion explores the concept of tech resilience, underlining the continuous need for investment and updates, mirroring the maintenance of critical infrastructure.Key TakeawaysAn iterative and agile approach to problem-solving and product development is beneficial to harness adaptability and the ability to make swift adjustments.Strategic customer engagement is important. Rather than adopting a "build it, and they will come" mindset, the focus is on identifying and partnering with the right customers, addressing their specific needs.Given the rapid obsolescence of technology, ongoing investment is crucial to staying relevant and effective in the ever-evolving landscape.

In this episode of WealthTech Unwrapped, Ned speaks to Anders Jones, the CEO and Co-Founder of Facet Wealth. They discuss the pressing need for change in the financial advisory industry, identifying three primary challenges: the high cost of financial advice, conflicted fee structures, and a narrow focus on retirement and money management. Acknowledging the industry's shift away from commission-based structures, Anders critiques the alignment issues with AUM models and emphasizes the necessity for fair and transparent pricing. The conversation acknowledges the role of technology, particularly AI, in reshaping financial advisory services. Automation is seen as a means to enhance advisor efficiency and improve the overall client experience. The discussion also highlights the importance of education in customer acquisition, promoting an "edutainment" approach to inform clients about financial planning.Looking ahead, the shared vision is for the industry to evolve and redefine financial planning by prioritizing client goals and outcomes over AUM growth. The aspiration is to establish an industry standard that aligns more closely with client needs, offering accessible and transparent financial advice to a broader audience. This inspiring tale of building a mission-driven business shows how digital innovation can expand important services to many more people who've never worked with an advisor.Key Takeaways:1. Recognizing flaws in an entrenched industry from an outsider perspective can provide insights to disrupt the status quo and better serve customer needs.2. Leveraging technology, particularly automation, presents a transformative opportunity to reduce costs and enhance efficiency in financial advisory services. 3. Embracing an educational and transparency-driven approach not only addresses the shortcomings of the current market but also unlocks new opportunities by meeting the needs of previously underserved customers.

Summary: In this episode of WealthTech Unwrapped, Ned engages in a conversation with Sam Rhee, the Co-founder and Chairman of Endowus, a cutting-edge digital wealth management platform based in Singapore. Samuel's journey from a successful finance career to the founding of Endowus is driven by a mission to address Singapore's impending retirement crisis.Sam's passion for addressing societal challenges through technology finds expression in Endowus, a platform strategically designed to bridge gaps in the CPF system, Singapore's national pension fund. Overcoming the primary hurdle of gaining consumer trust for a new brand handling their savings, Sam highlights the platform's commitment to building confidence in clients entrusting their life savings.Recognizing the critical role of trust in wealth management, Endowus strategically leverages the CPF market and forges partnerships with reputable brands, fostering a sense of assurance among clients. Beyond trust-building, Sam acknowledges the significance of shaping consumer behavior. This realization propels Endowus to pioneer educational initiatives, such as insightful articles and webinars, aimed at enhancing financial literacy.Key Takeaways1. Strategic market leverage and key partnerships with trusted brands fortify confidence in wealth management.2. Prioritise brand authenticity by intentionally selecting advocates who resonate with the platform's mission. This approach, devoid of celebrity endorsements, ensures a genuine connection, reinforcing trust and authenticity in your brand-building strategy.3. Progressive platforms prioritize financial literacy initiatives, driving positive client impact and shaping favorable investment behaviors.

In this episode of WealthTech Unwrapped, Ned speaks with Chris Shuba, Founder and CEO of Helios Quantitative Research.Chris delves into two fundamental principles shaping his business approach. The first involves breaking down elements in finance into modular parts, enabling infinite combinations for scalable, customized solutions. The second highlights the strategic importance of creating multi-purpose content to yield value through interconnected actions.Chris delves into the concept of luck in entrepreneurship and acknowledges instances where Helios benefited from strategic collaborations and supportive relationships. He emphasizes the importance of being perceived as a partner rather than a vendor, especially in the financial advisory space. The conversation touches on the challenges of being a quant in a volatile market, the changing landscape of asset management, and their long-term commitment to solving evolving problems in the financial industry.Key TakeawaysUnlocking business scalability lies in prioritizing customization and modular elements, empowering the creation of endless combinations tailored to each client's unique needs.Long-term success involves cultivating strategic partnerships with clients, shifting from a vendor perception and embracing feedback-driven improvements.Navigating evolving client needs requires adaptation, with disruptive innovation becoming imperative for sustained relevance in traditionally slow-moving sectors like wealth management.#WealthTechUnwrapped #Bambu #FutureOfFinance #WealthTech #FinTech #FounderStories #Quant #Leadership #FintechInnovation #DigitalWealthManagement #Bambu #AssetManagement #NedPhillips

In this episode of WealthTech Unwrapped, Ned sits down with returning guest Karan Shanmugarajah of WealthKernel to discuss their new partnership that is poised to transform the digital wealth management industry by making robo-advisory capabilities accessible to every financial advisor.Introducing Bambu GO Transact, the world's first SaaS-based Robo-advisor. By harnessing Bambu's expertise in digital client experiences and seamlessly integrating it with WealthKernel's transactional platform through APIs, they have crafted a multi-tenant robo-advisory solution. In just a few short months, they've developed a fully-integrated platform that allows advisors to build, deploy and manage their own customized digital wealth solutions with just a few drags and drops.Bambu GO Transact removes the barriers that previously prevented widespread adoption of digital advice. Advisors can now offer clients a seamless onboarding, investment and servicing experience without the high costs or technical complexities of building solutions in-house. Bambu GO could disrupt the entire wealth management industry by ushering in an era of API-driven, SaaS-based operations. Bambu GO Transact is set to go live this month. Don't miss the opportunity to be among the first to experience it - secure your access!Key TakeawaysBambu GO Transact offers financial advisors a turnkey solution for creating, deploying, and managing customized digital wealth offerings with a user-friendly interface.Bambu GO Transact eliminates the technical and financial barriers for advisors to have their own digital advice solutions.This innovative partnership has the potential to disrupt the wealth management industry by introducing a new era of API-driven, SaaS-based platforms.

In this episode of WealthTech Unwrapped, Ned speaks with Danny Levy, the Managing Director of Money 20/20. With over two decades of experience organizing conferences under his belt, Danny shares how companies can optimize their strategies to maximize ROI at trade shows.Danny highlights the importance of making an effort to stand out at events and not just going through the motions. This includes creating compelling content, running engaging activities at your booth, and leveraging opportunities to capture valuable moments for later use. Danny also stresses the importance of consistent human interaction over passive branding. For those seeking new connections, he outlines ways to work a room through facilitated discussions and roundtables.The events industry is continually evolving, and staying ahead means adapting to new trends and technologies while keeping the essence of personal interaction alive. Danny's insights shed light on how the events industry can continue to thrive and provide value to businesses and professionals in the years to come.Key TakeawaysTo maximize your presence and impact at events, it’s essential to put in the effort to stand out.  Don't just blend in with the crowd; find ways to be memorable and unique.Use content creation to enhance your event experience, capturing moments for long-term marketing use.In-person interactions at events are difficult to replace with digital alternatives. Even as technology evolves, the core of many events will still be about meeting people in person.

In this episode of WealthTech Unwrapped, founders at any stage of their startup journey will uncover invaluable insights. Serial entrepreneur and investor, James Spurway, shares battle-tested wisdom on crucial topics like fundraising, bootstrapping, and the art of nurturing a sustainable business.James offers practical, investor-ready advice, emphasizing the significance of initiating early conversations and showcasing product-market. For those seeking funding or mentors, he shares strategies for making your startup truly compelling.Ned and James also discuss their perspective on major decisions like whether to raise capital or bootstrap. The two key considerations to bear in mind are your lifestyle aspirations and your stress tolerance. Drawing from James' wealth of experience in his own ventures and mentoring endeavours, you'll gain valuable insights into the diverse challenges and opportunities spanning different regions and business models. Tune in today!Key Takeaways:1. A mentor is indispensable for founders; lacking one can put you at a disadvantage right from the beginning.2. Initiate early conversations with potential investors by keeping them in the loop about your progress and seeking their guidance, not just their funds. 3. Demonstrate product-market fit and unit economics to show investors how your business model scales sustainably, instead of relying solely on long-term financial forecasts.

On this episode of WealthTech Unwrapped, we're thrilled to welcome Aram Mughalyan, the Co-founder of Solidate, a passionate web3 enthusiast, and a dedicated ultramarathon runner, as he joins Ned to delve into the realms of personal branding and entrepreneurial mindsets.Aram opens up about his journey, revealing how he leveraged by using LinkedIn to consistently deliver value and educate his audience, crafting his personal brand. Through short daily insights,  he grew a following that now comes to him organically. This demonstrates how giving first positions as a thought leader builds trust over time.The conversation takes an exciting turn as we explore the striking parallels between entrepreneurial grit and the mental fortitude demanded by ultramarathons. Both call for unwavering resilience amidst the inevitable highs and lows. Discover how Aram applies the lessons learned from pushing his physical limits to propelling his startup forward.In the following segment, we delve into Aram's insights on crypto and web3 technologies. While still early, partnerships between decentralized protocols and established corporate giants may be the key to propelling mainstream adoption in the future.Key Takeaways1. Building a personal brand on LinkedIn through consistent, value-driven posts can help generate inbound leads over time.2. Both running ultramarathons and building a startup share a common demand for resilience in the face of challenges and a strong mental fortitude to navigate difficulties.3. Partnerships between large companies and decentralized protocols have the potential to expedite mainstream adoption of emerging technologies such as crypto and web3.

Join Ned, in this episode of WealthTech UnWrapped, as he engages in a thought-provoking discussion with Professor Kelvin Low on the promises and pitfalls of cryptocurrency.As one of the few crypto skeptics in academia, Professor Low shares his nuanced legal perspective on blockchain's ability to revolutionize ownership and disrupt traditional finance. While crypto believers tout its potential to democratize money, he questions whether the technology truly addresses real-world problems or merely shifts risk onto users.Tune in for an insightful debate that looks beyond the hype to dissect crypto's value proposition and adoption challenges. This debate is a must-listen for anyone looking to cut through the noise and gain a balanced, intellectually rigorous understanding of blockchain's potential to transform our digital future.Key Takeaways:1. Blockchain technology brings new risks like immutability and self-custody, which place more responsibility and potential losses on users compared to traditional financial systems.2. The most significant cybersecurity threats stem from social engineering and targeting individuals rather than system vulnerabilities, making prevention and law enforcement efforts challenging. 3. There are significant open questions around the scalability, security and real-world utility of blockchain that advocates have yet to convincingly address, suggesting widespread adoption may still be far off.

In this episode of WealthTech Unwrapped, Ned chats with Shameer Sachdev, the Founder and Managing Director of Growth Gorilla about digital marketing strategies for FinTechs. They share  their battle-tested tactics for effectively generating qualified leads through a strategic blend of content creation, events and innovative outreach. Listen in!"...build good products, and then just don't tell anybody, and think everyone was just gonna rock up and buy them, which is not true...you can't have sales without marketing." - NedKey-Takeaways:1. A consistent content strategy across owned channels is essential for B2B FinTech lead generation, fostering trust and awareness.2. Experiment with messaging to find the most effective ways to engage prospects, as even small changes can significantly impact response rates.3. While creative tactics can accelerate conversations, don't overlook the basics; accurate targeting and relationship-building are foundational for B2B FinTech marketing success.

In a momentous milestone, the 100th episode of WealthTech Unwrapped welcomes Luke Janssen, one of the co-founders of Bambu. Joining forces with Ned, they embark on a retrospective journey, revisiting the early days of Bambu and recounting the unique entrepreneurial paths that led them here today.Luke's entrepreneurial voyage, which began with Tigerspike and has now evolved into his role in running a venture studio, is a tale of passion and transformation. His frustration with industries like wealth management and insurance fueled his drive to disrupt them. He shares lessons learned from his multiple startup experiences, emphasizing the importance of sales and marketing. Additionally, they discuss the importance of certifying social impact and challenges of innovation, especially within large corporations.Luke highlights the value of purpose-driven businesses that empower smaller players. Large corporations can become bureaucratic and fail to innovate, creating opportunities for more agile companies with a focus on social impact. Jensen expressed optimism about technologies solving issues like climate change. The founders also take a moment to stroll down memory lane, reflecting on Bambu's formative years and its awe-inspiring seven-year journey.Key-takeaways:1. Passion and a desire to solve problems can be strong drivers for starting successful businesses. 2. Marketing and sales are incredibly important, especially in the early days of a startup. Getting a product in front of potential customers through creative marketing strategies is essential for growth.3. Purpose-driven businesses that empower smaller players have an important role to play. 

In this exciting episode of WealthTech Unwrapped, Ned engages in a captivating conversation with wealth management expert Manish Prasad, whose rich journey spans the worlds of startups, corporate giants, and the dynamic landscape in between.The discussion kicks off by recognizing the transformative power of wealthtech. It's not just about automated solutions; it's about how technology complements the expertise of human advisors. Manish offers key learnings around defining problems from the customer perspective, a strategy he emphasizes is crucial for product-market fit. Furthermore, he emphasizes the significance of honesty in client relationships, enabling potential partners to offer more meaningful assistance.Looking towards the future, Manish paints a three-tiered vision of wealthtech. With technology as the catalyst, the future of wealth management holds the promise of accessibility, efficiency, and social impact. It's not just about managing wealth; it's about democratizing access to impactful wealth management for everyone.Key TakeawaysDefining problems from the customer's perspective is key to developing solutions that achieve product-market fit. When facing significant challenges, the decision to build, buy, or partner depends on factors such as risk, cost, and the opportunity to learn from others. Partnerships often provide an effective balance between risk management and potential success.The wealth management landscape is evolving as digital technologies and AI automate financial processes in the background. This transformation has the potential to reshape client experiences and the industry itself.

On this episode of WealthTech Unwrapped, Ned speaks with Alex Medana, a pioneer in the world of Fintech. Together, they explore the challenges and rewards of being an entrepreneur in FinTech, emphasizing the importance of passion, self-discovery, and resilience. Alex reflects on his professional history and how he started to take interest in blockchain’s transformative potential. Alex highlights the need for user-centric solutions and discusses the role of blockchain in shaping the future.The conversation transitions into a candid reflection on the entrepreneurial journeys of Ned and Alex. Both distinguished by their extensive corporate backgrounds, they eventually embarked on their entrepreneurial quests. Alex underscores the significance of passion and mindfulness for founders, revealing how his practice of martial arts has been instrumental in maintaining balance.Beyond the material realm, Alex perceives success as the ability to make life-defining choices, emphasizing the liberating power of saying "no." He emphasizes the satisfaction of creating something to be proud of, with the potential for a lasting, positive impact.Key Takeaways1. Founders should have a clear understanding of their strengths and weaknesses to assemble a well-rounded team. Surrounding oneself with individuals who can complement their skills and address their weaknesses is crucial.2. Maintaining balance during the unpredictable startup journey is crucial, and having a passion is key to achieving it. Engaging in activities like martial arts and running serves as a valuable outlet for stress and helps founders stay grounded during challenging times.3. True success is about the freedom to pursue your interests and make a lasting, positive impact, going beyond the confines of mere wealth or status.

In this episode of the WealthTech Unwrapped podcast, host Ned Phillips sits down with industry veterans Kanny Lee and Anson Zeall for an in-depth conversation on cryptocurrency and blockchain.They reflect on the wild early days of the space and discuss how far it has come, with more structure and regulation. They also tackle ongoing concerns, engaging in discussions about the different digital currencies’ adoption rates, their application and growing appeal to governments and regulators worldwide.Tapping into their decades of combined experience, Kanny and Anson cut through the jargon to explain key concepts in approachable terms. They shared visions for how technologies may evolve and addressed both concerns and potential applications.Key Takeaways:1)  The cryptocurrency industry has matured significantly since its early days, with more regulations and professional players involved. While still volatile, there is a growing recognition of its importance, and continuous innovation is poised to introduce new, compelling applications that could enhance its adoption.2) Mainstream adoption of blockchain-based applications may still be years away as challenges around ease of use and education remain. However, use cases driven by financial inclusion and DeFi could see earlier traction.

Key Takeaways1) Alignment is not the same as agreement. Alignment allows everyone to move together with a shared commitment to create value. 2) Idle money is dead money. The only time money is valuable is when it is in motion.3) Banks often fail to optimize risk effectively, overlooking its potential as a strategic lever for growth and value creation.On this episode of WealthTech Unwrapped, join Ned as he engages in a dynamic conversation with Steve Monaghan, an influential figure renowned for his groundbreaking work in shaping innovative business paradigms for both established institutions and dynamic startups.Drawing from his extensive experience advising top companies, Steve highlights how businesses often overlook capital optimization as a competitive tool for improving bank performance. He emphasizes the need to focus on the velocity of money beyond just pricing and products.The conversation then addresses the challenges of fostering innovation in banks, noting the fears of risk and regulatory constraints in the banking sector. Steve delves into the significance of product ownership and cultivating a culture of continuous learning, enabling banks to better utilize technology and redefine how we can embrace innovation within the industry, only on WealthTech UnWrapped!

Key Takeaways• Thematic investing, known as mega trends, will continue as financial institutions adopt them to provide individualized investment solutions, meeting the demand of younger generations for a mobile and digital personalized experience.• Fractional shares offer accessibility to retail investors who can own part of an expensive share, allowing them to diversify their portfolio or pursue their investment strategies. • Building a business involves persistence and the essential need for a contingency plan at all times. In this episode of WealthTech Unwrapped, Ned engages in a captivating discussion with Christian Kronseder, Founder and CEO of ALLINDEX, a company that specializes in crafting custom indexes and thematic portfolio constructions. Tune in as they explore entrepreneurship, the evolution of personalized investment platforms, and reflections on trends in the financial industry.

In this episode of WealthTech Unwrapped, Ned engages in a conversation with Mohit Tater, the Founder & CEO of BlackBook Investments. Tune in to delve into their discussion about the potential investments within the realm of digital assets, and gain insights into the intricacies of managing multiple online businesses.Key Takeaways: 1) Black Book is unique because they offer websites and online businesses as an investment. They focus more on cash flow and stable ROI than doubling or tripling money.2) The value of bootstrapped businesses in contrast to often glorified startups, is their ability to generate significant profits and be sold at similar price points with substantially less investment.

On this episode of WealthTech Unwrapped, Ned speaks with Jonathan Cardella, Co-Founder and CEO of Strike R&D Tax Advisory. Join them as they discuss everything there is to know about taxes and how it applies to the Fintech Industry. Key Takeaways: 1) Keeping technology simple is key, especially for complex businesses like Tax Advisory and Fintech 2) The US has some of the leading apps in the world. Developed nations and economically competitive countries also want to create environments that encourage R & D jobs.You heard it here first, only on WealthTech Unwrapped!

This week on WealthTech Unwrapped, Ned speaks with Karan Shanmugarajah, CEO of WealthKernel. Join them as they discuss the WealthTech Eco-System and what it takes for a budding entrepreneur to get their foot in the door. Key Takeaways: Reaching the optimal position in the tech journey requires a considerable amount of time.The banking and wealth management sectors are increasingly embracing APIs, indicating promising developments and widespread adoption ahead.The primary competition that a business will face is its own self.Don't miss this enlightening conversation, available exclusively on WealthTech Unwrapped! 

On this episode of WealthTech Unwrapped, Ned speaks with Bert-Jan van Essen, Founder and CEO of Fractionalmission.plus. They discuss building a Wealthtech start-up from the ground up, it's similarities to Ski Mountaineering and the benefits of keeping WealthTech simple. Key Takeaways:1) The start-up journey is much like Ultra Running and Ski Mountaineering where a lot of effort is put into reaching the top and you reap the rewards at the end2) Banks create unnecessary complexity by including too many features in their digital products. In reality, they should consider keeping it very simple for a better user experienceTune in now for valuable insights!