Providing Strategic Support to Broker-Dealers and Asset Managers with Chip Kispert

The need for strategic support is critical for broker-dealers and asset managers. In particular, the competitive pressures of the changing market landscape, digital transformation, and the need to continuously meet clients' evolving needs require an ongoing and robust dialogue between service providers and their clients. In this episode, George and Ryan talk with Chip Kispert, Managing Partner at Beacon Strategies. Chip is a 20-year veteran of the broker-dealer and asset management marketplace. Having founded Beacon Strategies in 2006, Chip established the firm as an independent thought-leadership vessel providing research, consulting, and forums for its clients. As an expert in the broker-dealer and advisor industries, Chip talks with George and Ryan about the value broker-dealers bring to wealth management, the innovation Chips sees among broker-dealers, and why succession planning is important. Key Takeaways [02:08] - The reason Chip founded Beacon Strategies and The Beacon Roundtables. [06:30] - How broker-dealers build their own RIAs. [09:30] - How Chip defines relevance in the enterprise wealth space. [14:32] - The value broker-dealers bring to wealth management. [16:09] - Among the themes discussed at The Beacon Roundtables. [17:19] - The innovation Chips sees among broker-dealers. [21:48] - One of the biggest barriers to opening an account. [26:47] - Why succession planning is important. [29:25] - How technology helps firms ensure their advisors have succession plans. [32:25] - Why broker-dealers should invest in tools and strategies. Quotes [04:45] - "We are at our roots. We're not going down on the surface level. We have our hands in the dirt with the problems our enterprise wealth firms are wrestling with daily." ~ Chip Kispert  [21:36] - "It's fun to watch some of this innovation. And for many of the broker-dealers and the RIAs, they're going to have to adapt, and they're going to have to embrace change." ~ Chip Kispert  [28:46] - "Beneficiaries take over 70% of their inheritances and move them to other advisors. Why aren't we better preparing those beneficiaries and children and getting them into the mix as part of that succession planning piece of the puzzle?" ~ Chip Kispert  Links  Chip Kispert on LinkedIn Chip Kispert on Twitter Beacon Strategies Fidelity Investments The Beacon Roundtables  FP Alpha Connect with our hosts Ryan Donovan George Svagera Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1945-OAT-10/17/2022