October 31, 2023

Creating a Modern Wealth Management Platform with Reed Colley

29 minutes

Summit Wealth Systems is at the forefront of transforming the wealth management industry. The company's commitment to collaboration and innovation positions it to have an influence on the future of the industry and support advisors as they navigate an ever-changing landscape.

In this episode, Jack talks with Reed Colley, Co-Founder and CEO of Summit Wealth Systems. Reed is passionate about helping people be happy and fulfill their goals. At Summit, he helps advisors and their clients focus on an abundance mindset by using modern and innovative technology to keep them on track and move forward. He founded, invested in, and advised multiple technology companies, including Black Diamond Performance Reporting, a cloud-based portfolio management system he started and coded.

Reed talks with Jack about his current project, Summit Wealth Systems, which aims to provide a comprehensive platform for advisors to unlock the full potential of their practice. The platform focuses on unifying data, automating processes, and delivering a world-class solution to clients. Reed also emphasizes the importance of humanizing the advisor-client relationship and helping clients connect their wealth to their values.

Key Takeaways

[01:31] - An overview of Reed's career journey.

[03:04] - What Summit Wealth Systems is all about.

[07:22] - How Summit Wealth Systems creates a better user experience.

[12:07] - What the user experience looks like at Summit Wealth Systems.

[15:36] - Humanizing the financial planning process.

[18:14] - The integration process of Summit Wealth Systems with other platforms.

[19:52] - What Summit Wealth Systems will look like in the future.

[24:39] - Reed's three key takeaways.

[25:55] - The thing Reed enjoys most outside of work.

Quotes

[11:14] - "Each advisor has a slightly different approach to how they want to communicate with a client. And instead of saying, as a software company, 'No, you should do it our way.' We said, 'Well, we embrace that.' And we built an engine we called our abundance engine." ~ Reed Colley

[20:50] - "Working with great advisors and working on the things that are most important to them gives us the best fuel for our innovation to continue to build the platform in a way that is going to be incredibly impactful for them and their clients." ~ Reed Colley

[23:03] - "We love the idea of humanizing the wealth management space, unifying all this data, bringing it together, and then moving the space forward to where the advisors want the conversations to be, where their clients want the conversations to be, and connect everybody to their wealth to their values." ~ Reed Colley

Links

Reed Colley on LinkedIn

Reed Colley on Twitter

Summit Wealth

SS&C Advent

eMoney Advisor

MoneyGuidePro

Connect with our hosts

LifeYield

Jack Sharry on LinkedIn

Jack Sharry on Twitter

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