December 17, 2024

2024 Year-End Wrap-Up: The Dawning of UMH

25 minutes

This week, WealthTech on Deck producer Matt Nollman takes over hosting duties to interview Jack Sharry about the podcast’s standout moments of 2024. They discuss the evolution and future of UMH, including the transformative impact of LifeYield’s recent acquisition by SEI. Jack highlights pivotal industry conversations with leaders advancing UMH capabilities, explores strategies for overcoming implementation challenges, and emphasizes the importance of innovation for financial advisors and firms. Jack also shares key career advice that has shaped his professional journey.

In this episode:

(00:19) - Year-end wrap-up and review

(00:58) - The dawning of UMH

(03:10) - Defining UMH and its importance

(04:41) - Key elements of UMH

(07:43) - UMA vs UMH

(09:15) - Memorable episodes from 2024

(13:25) - AI, research, and the digital frontier

(15:01) - Building multi-account UMH capabilities

(19:05) - Career advice and closing thoughts

Quotes

“Through this acquisition, SEI will be the first in the industry to provide real-time, automated, unified managed household or UMH capabilities in a cost-effective, fully bundled overlay solution.” ~ Jack Sharry

“The single biggest challenge we find is getting all the departments, all the silos to work together. And that is also why it is important to have a single executive sponsor or leader.” ~ Jack Sharry

“Improving after-tax returns and income is inherently a multi-account exercise.” ~ Jack Sharry

Links

SEI: https://www.seic.com

Morgan Stanley: https://www.morganstanley.com

MoneyGuide Pro: https://www.moneyguidepro.com

Tifin: https://tifin.com

Wells Fargo: https://www.wellsfargo.com

EY: https://www.ey.com

Franklin Templeton: https://www.franklintempleton.com

Matt Nollman: https://www.linkedin.com/in/mattnollman

Mark Hoffman: https://www.linkedin.com/in/mark-hoffman-16946359

Martin Cowley: https://www.linkedin.com/in/martincowley

WealthTech in the Weeds with Charles Smith: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-charles-smith

WealthTech in the Weeds with Rose Palazzo: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-rose-palazzo-and-mark-hoffman

WealthTech in the Weeds with Jeff Benfield: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-jeff-benfield-and-martin-cowley

WealthTech in the Weeds with Eric Lori: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-eric-lordi-and-martin-cowley

WealthTech in the Weeds with Roger Paradiso: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-roger-paradiso

The Evolution and Resurgence of SEI with Ryan Hicke and Sean Denham: https://wealthtechondeck.com/episodes/the-evolution-and-resurgence-of-sei-with-ryan-hicke-and-sean-denham

The Age of the New Wealth Portfolio with Erich Holland: https://wealthtechondeck.com/episodes/the-age-of-the-new-wealth-portfolio-with-erich-holland

Unlocking the Potential of Generative AI in Asset and Wealth Management with Amy Young: https://wealthtechondeck.com/episodes/unlocking-the-potential-of-generative-ai-in-asset-and-wealth-management-with-amy-young

Unlocking AI’s Potential in Wealth Management with Rob Pettman: https://wealthtechondeck.com/episodes/unlocking-ais-potential-in-wealth-management-with-rob-pettman

WealthTech in the Weeds with Michael Liersch: https://wealthtechondeck.com/episodes/wealthtech-in-the-weeds-with-michael-liersch-and-harry-bartle

Scott Smith: https://www.linkedin.com/in/scott-smith-148360

Financial Advisor Magazine: https://www.fa-mag.com

Frances Frei: https://www.linkedin.com/in/francesfrei

Edward Jones: https://www.edwardjones.com

JP Morgan: https://www.jpmorgan.com

Merrill: https://www.ml.com

Harvard Business School: https://www.hbs.edu

Connect with our hosts

LifeYield

Jack Sharry on LinkedIn

Jack Sharry on Twitter

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By LifeYield

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