WealthTech on Deck

Effectively Running a Models-Based Practice with Robert Pettman


Listen Later

Leading a financial advisory firm is a challenge. The goal is to provide sound and objective financial planning advice to clients but to do so profitably and at scale is an uphill battle. 

In today’s episode, Jack talks with Robert Pettman, EVP, Wealth Management Solutions at LPL Financial. Robert is responsible for leading the advisory and brokerage platforms, investment products, and relationships with asset managers, insurance companies, and wealth tech providers. In addition to his role, he also heads the research department, a new component that is essential to a comprehensive wealth management strategy.

Robert talks with Jack about LPL Financial's spectrum of products, solutions, and opportunities, how they enable advisors to run a models-based practice more efficiently and effectively, and what his outlook is for the future of the financial advisory business.


Key Takeaways

  • [02:03] - How Robert got his start in the financial services industry.
  • [05:53] - What LPL Financial is working on right now that Robert is excited about.
  • [07:59] - How LPL Financial empowers advisors.
  • [13:31] - How Robert handles the many tasks involved in serving advisors.
  • [17:20] - Robert's outlook for the future of the financial advisory business.
  • [22:55] - Robert's three key takeaways.
  • [23:49] - Interesting facts about Robert.

  • Quotes

    [14:18] - "It's really important to have great talent, creative and innovative, and client-centric that understands the issues, that's focused on solving problems for the clients and essentially bringing forward those ideas to actually help propel the company in doing the best that it can in serving advisors." - Robert Pettman

    [17:34] - "A product really exists as a vehicle of convenience. And it so happens that with the evolution of technology, we're actually getting to a place where that's not actually the most efficient and effective way to deliver solutions." - Robert Pettman

    [23:02] - "That theme of technology attacking the product wrapper is not something that's scary. It's something to be embraced and that can provide extra features and benefits for advisors and investors." - Robert Pettman


    Links 

    • Robert Pettman on LinkedIn
    • LPL Financial
    • Blaze Portfolio

    • Connect with our hosts

      • LifeYield
      • Jack Sharry on LinkedIn
      • Jack Sharry on Twitter

      • Subscribe and stay in touch

        • Apple Podcasts
        • Spotify
        • LinkedIn
        • Twitter
        • Facebook
        • ...more
          View all episodesView all episodes
          Download on the App Store

          WealthTech on DeckBy LifeYield

          • 4.8
          • 4.8
          • 4.8
          • 4.8
          • 4.8

          4.8

          17 ratings


          More shows like WealthTech on Deck

          View all
          Money Guy Show by Brian Preston and Bo Hanson

          Money Guy Show

          3,140 Listeners

          a16z Podcast by Andreessen Horowitz

          a16z Podcast

          1,014 Listeners

          We Study Billionaires - The Investor’s Podcast Network by The Investor's Podcast Network

          We Study Billionaires - The Investor’s Podcast Network

          3,365 Listeners

          Animal Spirits Podcast by The Compound

          Animal Spirits Podcast

          1,987 Listeners

          Wall Street Breakfast by Seeking Alpha

          Wall Street Breakfast

          1,013 Listeners

          WealthTech Today by Craig Iskowitz

          WealthTech Today

          12 Listeners

          The Compound and Friends by The Compound

          The Compound and Friends

          2,047 Listeners

          The Long View by Morningstar

          The Long View

          882 Listeners

          The Journal. by The Wall Street Journal & Gimlet

          The Journal.

          5,916 Listeners

          Morning Brew Daily by Morning Brew

          Morning Brew Daily

          2,940 Listeners

          All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

          All-In with Chamath, Jason, Sacks & Friedberg

          8,909 Listeners

          Barron's Streetwise by Barron's

          Barron's Streetwise

          1,544 Listeners

          Barron's Advisor by Barron's Advisor

          Barron's Advisor

          110 Listeners

          Money Rehab with Nicole Lapin by Money News Network

          Money Rehab with Nicole Lapin

          1,737 Listeners

          The Morgan Housel Podcast by Morgan Housel

          The Morgan Housel Podcast

          980 Listeners