Innovation is not confined to technological advancements alone. It is a way of thinking, a mindset that permeates an organization's ethos and influences its members' behavior and problem-solving approach. Moreover, establishing compliance in an organization should not be viewed as an obstacle to innovation. How can organizations foster a culture of compliance that encourages and supports innovative thinking and creativity?

In this episode, Mac talks with Bill Hortz, Founder and Dean of the Institute for Innovation Development. With over 40 years of experience in financial services, Bill has worked in various roles, including head of sales at firms like Templeton Fund Distributors and a Director of Strategic Accounts at OppenheimerFunds. His wide-ranging experiences have led him to a strong belief, passion, and advocation for innovation creation, strategic thinking, and strategic account management as the nexus of business forces needed to address a business environment challenged by an accelerating rate of change.

Dedicated to helping businesses change to establish a culture of innovation while embracing new ideas and approaches, Bill talks about the importance of creativity, community, and compliance in the financial services industry. He emphasizes the need for a mindset shift to embrace innovation and adapt to the accelerating rate of change. Bill also highlights the power of building networks and communities to solve problems and stay ahead in a rapidly evolving industry.

Key Takeaways

• [01:17 ] - Bill Hortz's background and role at the Institute for Innovation Development.


• [04:15 ] - Bill's "AHA" moment that led to the creation of the institute.


• [08:23 ] - The importance of creativity and innovation in a changing business environment.


• [13:00 ] - The role of creativity and innovation in AI and technology.


• [13:57 ] - Bill's advice on developing a creative and innovative mindset.


• [19:48 ] - The power of community and networks in problem-solving and innovation.


• [26:13 ] - How creativity and innovation can be applied to compliance.


• [29:30 ] - How people can learn more about the Institute for Innovation Development.

Quotes

[10:33 ] - "Innovation is the ongoing execution of new ideas that create new client value. It's not just an idea. You have to make it real." ~ Bill Hortz 

[11:13 ] - "Innovation does not equal technology. Innovation is a way of thinking. It's a mindset and a way of behaving and handling challenges. Innovation is a dynamic process." ~ Bill Hortz 

[14:31 ] - "The greatest thing the Institute for Innovation Development is trying to do is build awareness. You can't change your mindset if you're not aware that there's a mindset that needs to be changed." ~ Bill Hortz 

Links 

• Bill Hortz on LinkedIn


• Bill Hortz on Twitter


• Institute for Innovation Development


• The Innovator’s DNA

Connect with our host

• Smartria


• Mac on LinkedIn

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Creativity, Community, and Compliance is brought to you by Smartria, an award-winning compliance management platform for compliance consulting firms and RIA networks. We excel at making the complex and frustrating world of compliance simple to manage and easy to understand. Want to get a behind-the-scenes tour and check it out? Reach out to us at hello@smartria.com and take a peek at our website, smartria.com.