Ezra Group, LLC

Thrilled to bring you exclusive insights from my chat with Sareena Dalla Brookshire, Chief Product Officer at BNY Mellon | Pershing, where we delved into the ever-evolving world of #wealthtech and explored the dynamics of modernizing technology in the wealth management sector. Listen now wherever you get your podcasts >> https://wp.me/pdTAz8-5uQ

Excited to share our latest podcast episode featuring an insightful conversation with Ryan Eisenman from Arch! Tune in to episode 233 as we dive into the importance of data visualization, workflow automation, and more in managing complex portfolios. Listen now wherever you get your podcasts >>> https://wp.me/pdTAz8-5uC

New #Roboadvisor Plenty Targets High Earning Couples From our March News podcast episode (dropping tomorrow!) ??The Robo-advisor market has stagnated, the top players are legacy firms are still Vanguard and Charles Schwab with Betterment and Wealthfront far behind. ?????? Plenty's focus on couples is unique but may not justify the subscription cost of $200/yr plus 20 to 50 basis points ?? Their backing from big names like Adam Nash, Kevin Durant and Rich Kleiman lends credibility but profitability will be tough to achieve ?? $2.75 million pre-seed capital raise is small, which means they will be focused on an MVP and initial user traction to demonstrate product market fit ???? Compared to another niche roboadvisor Ellevest that's backed by Sallie Krawcheck, one of the most well-known figures in our industry, they just crossed $2 billion in AUM after almost a decade in business. https://lnkd.in/e9rAyknq

A couple of the biggest takeaways from Orion #Ascent 2024: ?? Behavioral Finance (BeFi) was the unifying theme of the conference. BeFi has been infused into every component of the Orion suite of products and services. ?? From their Wealthtech Survey (see link below), 57% of advisors are currently focused on generational wealth transfer as a growth opportunity, with another 36% expected to do so over the next three years. ?? New CEO Natalie Wolfsen made a strong case that BeFi must be the driver for all aspects of wealth management. Her keynote was entirely focused on technology and didn't mention Orion's TAMP. This was surprising considering that the exhibit hall was overflowing with asset management?partners. ?? NEW: Estate Planning tool including Visualization, Workflows, What-Ifs: model hypothetical scenarios, accessible through the advisor or client portals ?? Compare Tool - an integrated dashboard enables viewing the impact of multiple changes to a client's portfolio side-by-side. I like how it compares different rebalance scenarios with a single click which required four separate runs before. ?? Advisor Trading - a simplified version of Eclipse Trading Platform, full household trading coming in a few weeks. ?? 3D Risk Profile: moving beyond "2D Risk" of Risk Capacity and Risk Tolerance to include Risk Composure which is how the client feels. ?? Only 50% of technology at RIAs is integrated, which is a huge opportunity for Ezra Group, LLC and our integration services, but also for all-in-one vendors like Orion who can now deliver fully connected tools and services across the entire advisor value chain. ?? I'm interested to see how Orion integrates Eclipse, Advisor Trading, Compare, Financial Planning and other components for a smooth advisor experience across multiple workstreams.? ?? Survey: 62% of advisors using behavioral finance techniques added new clients twice as quickly as those who didn’t. ?? Compliance - nearly half (46%) of advisors are outsourcing aspects of compliance and regulatory reporting, expected to rise by 19% over the next three years. ?? Generative AI made an appearance as Brian McLaughlin demoed screens that could generate talking points for advisors to use with clients based on how they scored in a BeFi questionnaire. Great to see everyone and thanks to Orion for inviting me! Looking forward to next year in Orlando! Randy Lambert Michael Stern Michael Wilson Lori Hardwick Ryan Donovan Rick Williamson Joel Hurst Daniel Crosby, Ph.D. Eddie Sempek Billy Oliverio Matt Morris https://lnkd.in/eQx_XMDx

Excited to share our latest #WealthTechToday podcast episode with Greg Gates, CTO of LPL Financial, diving deep into the transformative power of AI and integration in wealth management. Learn how LPL is leveraging cutting-edge AI technology to empower advisors and enhance client experiences. Listen now wherever you get your podcasts >>> https://wp.me/pdTAz8-5tJ

Yesterday, I had the pleasure of being a guest on a webinar hosted by Tolerisk and interviewed by their CEO Mark Friedenthal. Here's a quick summary of what we discussed: ???????????????????? ?????????????????????? ???????????? ?? RIAs looking for new software should choose vendors with high integration scores to ensure superior and robust capabilities. ?? Making detailed inquiries to vendors about their integration capabilities is crucial to ensuring promised functionalities aligns with actual performance. ???? Ezra Group offers custom integration services for RIAs that want to deliver unique workflows and advisor experiences. ???????????????????? ???? ???????????????????? ???????????????? ???? ???????????????? ?? Common pitfalls include not conducting a thorough market scan, resulting in suboptimal tech choices. ?? Continuous internal marketing strategies are essential for sustained adoption of tech tools by advisors. ?? A collaborative selection process involving IT, business, operations, and compliance can mitigate adoption issues. ???????????? ?????? ?????????????????????? ???? ?????????????? ?????? ?????????????? ?????????? ??? The advisortech landscape is evolving with vendors acquiring tech or expanding into adjacent categories to stay competitive. ?? Custodians leverage technology to complement their service offerings, focusing on efficiency and better advisor experience. ?? Internal technology investment by custodians is critical, especially as traditional revenue streams like transaction fees disappear. Wealthtech is rapidly changing, with integrations, advisor adoption, and expanding capabilities at the forefront. RIAs must adapt by choosing integrated solutions, fostering tech adoption among advisors, and being aware of shifting dynamics to stay ahead in the game.