The power of a robust tech stack lies not only in the ability to consolidate information but also in the opportunity to accomplish more within a unified environment. Advisors aim to break free from the limitations of siloed solutions and embrace the potential of an all-encompassing platform that empowers them to go above and beyond. By seamlessly integrating multiple functions, advisors can focus on what truly matters – delivering exceptional value to their clients.
In this episode, Ryan and George talk with Lori Hardwick, Chairman of the Board for Docupace and Board Member for Cerity Partners. Lori has over 30 years of experience as a senior executive, entrepreneur, and board member for some of the fastest-growing and widely-recognized firms in the industry. She was one of the co-founders of Envestnet and later joined BNY Mellon's Pershing as its COO before co-founding AI Labs. A sought-after board member in the technology and financial advice space, Lori has held board seats at Cetera Financial Group, Orion Advisor Solutions, Cerity Partners, Vestwell, and Genstar Capital.
A trailblazing leader and a "swiss army knife" in the wealth management and wealthtech spaces, Lori shares her thoughts on the future of FinTech, what advisors are investing in this year and the foreseeable future, and what she sees as potential disruptors for the industry.
Key Takeaways
[01:17] - A history of Lori's career in FinTech.
[05:22] - How FinTech has evolved over time.
[10:28] - How client experience drives buying and investing decisions.
[15:17] - Why it's hard for clients to view everything in their overall financial plan in one place.
[19:23] - How advisors can maximize the potential of their tech stack.
[22:47] - What advisors need to consider before integrating a platform or technology.
[23:59] - What's next for Orion Advisor Solutions?
[30:28] - Lori's thoughts on outsourcing.
[36:23] - What the future holds for financial services.
Quotes
[07:20] - "Time is the thing that's holding advisors back from being able to really engage with all the technology they know they need. And building your own best-of-breed solution is very time-consuming." ~ Lori Hardwick
[32:58] - "Advisors are pressed for time but want what's best for their clients. They want their clients to be happy. If an advisor has a hundred percent happy client, they're a happy advisor." ~ Lori Hardwick
[35:22] - "Seeing everything in one place is one thing, and being able to do more in one place is another. And that is something our product management team is fiercely focused on right now, trying to make their advisors do more and easier than they can on their own." ~ Lori Hardwick
Links
Lori Hardwick on LinkedIn
Lori Hardwick on Twitter
Docupace
Cerity Partners
Orion Advisor Solutions
Genstar Capital
Cetera Financial Group
Nuveen Investments
Envestnet
Pershing
BasisCode
Hidden Levers
Redtail Technology
Eric Clarke
Connect with our hosts
Ryan Donovan
George Svagera
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1535-OAT-6/5/2023
