Fintech Impact

In this episode of ‘Fintech Impact’ podcast, host Jason Pereira talks to Brandon Rembe, the Chief Product Officer of Envestnet, which encompasses his role overseeing product for Envestnet | Yodlee, the data & analytics arm of Envestnet. Jason & Brandon talk about every aspect of investment and share some great ways to make people’s financial life better. 

Episode Highlights:

• 00.34: Brandon states that Envestnet is a large Wealth Tech and Fintech Ecosystem that is been around the business for over 20 years with a net worth of over $4 trillion. 
• 01.32: Envestnet has acquired a lot of start-ups and the founders are still with the organization as they continue to innovate.
• 02.13: Jason asks Brandon about the history of Envestnet and his role in the company.
• 03.31: As per Brandon, they worked really hard to grow the business from the breadth of what’ they’re doing and are now focused on integrating all the components. 
• 05.50: Brandon mentions that Envestnet as a company is the glue behind all those making sure that data flows seamlessly. 
• 07:00: To apply any intelligence to the stuff, you need to have the right data.
• 10.01: Legacy PFM applications and personal financial management applications, were really good at telling what happened in the past and what’s happening in your account currently. 
• 12.20: If you want to hit your financial goals, here is the thing is that you need to do, you should spend less on entertainments and you should save more.
• 14.25: Brandon tells that they want people to feel like they have control over their financial life and they understand their financials life.
• 18.20: People also need to keep a check on how much they spent over the last year on an average and if the expenses were meaningful?
• 20.08: They have just launched their new trust exchange as well where people can come in and get access to trust services. 
• 25.30: We need to empower the advisor with one allowing them to collect all the information about their clients so that they can provide the right advice.
• 26.14: We’re also trying to centralize / decentralize through this ecosystem to reach out and get the advice from both from investor and advisor standpoint.
• 28.16: It’s also very important for advisors now to have the conversation of you client to say, well, what’s important to you in how you get to that outcome? Do you care about your carbon footprint? Do you care about taxes? 
• 30.05: We’re trying to help every retail customer out there to start to create that intelligent financial life through micro saving and investing.
• 32.04: Jason asks Brandon, “If you had one wish for something changed in your company or the industry as a whole?”
• 35.02: It’s a problem that we can solve and reduce the money and finance fences that are causing so much stress to people.

3 Key Points:

1. Financial lives are probably very different from one another and are different from others; we need to understand the complete ecosystems, make the right advice or provide the right insights to them.
2. When you take any technology, whether that’s machine learning, or that’s a new cool app, you have to pair that with a human to get the best outcome. We can all innovate faster and provide better outcomes for clients.
3. When people go to talk to an advisor, they expect them to be the genius on everything, but they’re also not meant to be an expert on every single financial instrument that’s out there.

Tweetable Quotes:

• “Trying to make people’s financial lives better throughout that entire lifecycle”- Brandon Rembe
• “You guys are like the granddaddies of data aggregation, really are like the first major Big E myth in that space.”- Jason Pereira
• “Hey I want to get you on the phone right away and talk about what I need to do to provide the best outcome for me. So that type of seamless handoff between the machines is incredibly important for us”. – Brandon Rembe
• “Here is why I am asking all of these questions because they do have a real outcomes, what their needs are for healthcare and everything else” – Jason Pereira
• “It’s not only plugging them into that network, it’s then facilitating that network as well”. - Brandon Rembe
• “We’re really bringing some of those things down market so that people do understand how much they’re saving, spending, if they should be saving more, etc.” - Brandon Rembe

Resources / Links:

• Leave your review at Apple Podcasts
• Jason Pereira Podcasts 
• Fintech Impact Podcasts
• Jason Pereira Website
• Podcast Editing

Hosted on Acast. See acast.com/privacy for more information.

Host Jason Pereira talks to Shawn Yeager, Vice President – Sales at Dataswift, a vanguard provider of infrastructure that delivers personal data access, storage, and portability. In this episode, Shawn talks about solutions and the issues around identity rights and access to those identities. 

Episode Highlights:

• 0.30: Shawn explains what does it mean by “Infrastructure that delivers personal data access, storage, and portability?”
• 0.47: It means that for individuals, they get the security ownership and control of their private personal data.
• 01.02: For enterprises such as Fintech, the ability to securely in a compliant fashion transact customer data without the liability of holding all of the data.  
• 01.05: Dataswift also provides developers, open-source tools to readily built compliance, authentication, and data storage. 
• 02.04: Shawn has 20+ years of experience in business development and sales of infrastructure software, digital media, emerging technologies, and much more. 
• 03.00: Dataswift emerged from a multi-university research project conducted in the UK.
• 03.03: The problem faced to solve was “How does one delivers grant and have legal ownership of data?”
• 05.06: Jason talks about the paradigm of the market and what data looks like.
• 06.33: Jason highlights that data rights around the world are a mess; instead of solving the problem, few countries said one could own a bucket or container of data.
• 08.01: Shawn points out that centralized data is a liability, and it is important for enterprises to figure out how much data they want to retain?
• 08.31: There is a calculus of determining how much data should be retained. 
• 08.49: Shawn gives a classic example of two Dataswift’s clients: Fintech and the other from Health Tech. The clients simply wanted the score and not the underlying data. 
• 11.37: Shawn talks from a consumer point about how does Dataswift’s product work?
• 12.23: When logging and signing up in Dataswift, consumers gain the legal entity to own their data. 
• 13.24: Unlike Facebook, Google, Twitter, or any other such platform, one gives access to the enterprises to own their data.
• 13.30: When it comes to Dataswift an individual owns their own personal data lockers.
• 16.43: Shawn talks about the hackathons organized by Dataswift. 
• 21.06: While talking about legal ownership of data, Shawn exemplifies that Dataswift is not a company that will tell its users what should or should not be kept personal rather, the company creates standardized data conducts.
• 22.21: Shaws talks about the pricing models of Dataswift.
• 22.53: Jason and Shawn discuss how data is most stumbled upon in the marketplace. 

 3 Key Points:

1. Shawn Yeager talks about his history, the origin of Dataswift, and the gap in the market that led to its creation?
2. Jason and Shawn talk about data rights worldwide and how using containers to store data is considered legal.
3. From a consumer standpoint Dataswift communicates to its users “Why,” “What,” “When,” and “How.” The idea is to take informed consent. 

Tweetable Quotes:

• “We cannot own data, but we can own the container.” - Shawn Yeager
• “People’s information is of value.” - Jason Pereira
• “Data rights around the world are a mess.” - Jason Pereira
• “Most individuals would give all of their personal data for a slice of pizza.” - Jason Pereira
• “Centralised data is a liability.” - Shawn Yeager
• “With Dataswift you are not tying back to someone else’s access to your data, you are tying back to your own personal data lockers.” - Jason Pereira
• “Both parties benefits when each knows what they are doing.” - Shawn Yeager

Resources Mentioned:

• Dataswift: Website | Pricing 
• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• Woodgate.com – Sponsor
• LinkedIn – Jason Pereira’s LinkedIn
• Podcast Editing

Hosted on Acast. See acast.com/privacy for more information.

In this episode host, Jason Pereira talks to Gil Petersil. He talks about how editing and auditing your networks, both online and offline, have massive impacts on your business.  

Episode Highlights:

• 0.36: Gil talks about his years of experience in networking. He has set up few businesses around them. 
• 01.32: Gil gives a little background of his career journey. He has handled various jobs with large and small brands.
• 02.41: He adds that he has gained the required experience as a sales manager, waiter, executive, and many more; now, he can give back as a coach and teacher.
• 05.01: Gil shares few recent examples of brands approaching him during the pandemic since people are not buying many products or services. 
• 06.00: Gil doesn’t believe in time-consuming all-day training instead he prefers experimenting and then later sees how it works. 
• 07.29: Gil talks about ethical deals and organizing the network effectively.
• 11.00: Gil talks about “If I want to develop my business from 100 a month to million a month or billion in a year, it ultimately comes down to how do I transform my network.”
• 12.58: Jason says, “At the end of the end, it comes down to relationship.
• 13.40: Gil stresses the importance of networking and how business gets affected by poor choices. 
• 17.56: Gil shares that he has learned some life hacks, tips, tricks, methodologies, and formulas that he has not perfected yet, but they are working very well. 
• 19.35: For the digital marketing realm, COVID 19 was a gift for them. 
• 20.29: Gil shares his love for those companies that decided to change their vision and mission during COVID19. 
• 21.11: COVID19 pushed people to innovate. A classic example is Zoom calls and meetings.
• 23.21: Jason asks Gil to share his inputs on what a financial advisor can do to strengthen their referral business. 
• 25.36: Gil points out that it is specific to per person, industry or organization what approach they are taking. Still, he shares few impactful points. 
• 28.23: Jason agrees to the points shared by Gil and adds that the referral business that he gets from his colleagues or competitors.
• 30:39: Gil shares that following people, but not adding any value, disconnecting people, it is excruciating in most cases. 
• 31.46: He adds that if we make mistakes in networking and follow those mistakes, you can do better and better every time. Make sure your networking is healthy. 

3 Key Points:

1. Jason Pereira asks Gil what is it that you do to help business?
2. Jason Pereira and Gil discuss given the current situation organization across the globe has to strengthen their digital presence, as there is no other way around it.
3. Gil shares that knowledge should be free. As a financial planner, if you are not giving all your knowledge for free, you are doing something wrong.  

Tweetable Quotes:

• “When talking about networking, it always comes down to the people who are around you.” - Gil Petersil
• “When it comes to your business, your network is everything.” - Jason Pereira
• “Networking is not an act of maliciousness, but an act of mutual benefit.” - Jason Pereira
• “During the COVID19, it is important more than ever to build a network.” - Gil Petersil
• “Networking is extremely painful.” - Gil Petersil

Resources Mentioned:

• Gil Petersil: https://www.linkedin.com/in/gilpetersil/

Hosted on Acast. See acast.com/privacy for more information.

In this episode, host Jason Pereira talks to Andrew Altfest - Founder and CEO of FP Alpha, CFP and President of Altfest Personal Wealth Management. FP Alpha is an AI-driven comprehensive wealth management solution that helps advisors identify actionable recommendations to clients in a scalable, intelligent, and cost-efficient manner.

Episode Highlights:

• 01.16: Andrew Altfest talks about his inspiration to launch FP Alpha. In 2015 one of his advisors was asked this question “How are you different than a Robo-Advisor?”
• 02.11: FP Alpha provides a premium wealth management experience to clients; the fee justifies the value-add service that they provide. 
• 05.01: Andrew worked closely with his CTO, who has a background in Tech Development, and they built the first beta version of FP Alpha. It was used in his wealth management firm since 2018. Finally, in 2020 it launched it at the T3 conference. 
• 06.27: Andrew is focused on providing financial planning for the future. He is trying to evolve financial planning to Ver 2.0.
• 07.11: Jason talks about the other AI financial planning software that he has seen that are good. But with FP Alpha covers the semi-obvious gaps in the market. 
• 09.44: Jason enquires about “How the tax snapshot works?”
• 12.05: Jason and Andrew discuss how Investment is one thing, but taxation is entirely different. He is impressed by how Andrew has done extensive due diligence, and FP Alpha covers those points which can be easily missed. 
• 16.29: Jason and Andrew talk about the pricing structures. He points out Andrew has created a very differentiated service that provides tremendous value. 
• 18.15: Jason is really impressed by FP Alpha and asks to share Andrew about the roadmap.
• 19.50: Andrew talks about the first-of-its-kind holistic tool that they are going to launch. 
• 24.27: Jason talks about the reality that even if the system does all the work the level of knowledge, you have to have in order to understand why the system did what it did.
• 25.09: Andrew reveals the biggest challenge that he has faced to bring the company where it is today. 
• 28.50: Jason says that advisors can be indispensable at the end of the day if they provide greater and greater value to their clients. 

3 Key Points:

1. Andrew talks about his vision to help clients handle their financial issues with minimal time using advanced technology. 
2. Andrew explains, “FP Alpha extracts information using AI from documents and understands what that information is, that is then combined with algorithms and recommendations around planning opportunities are provided to advisors.”
3. Jason talks about how he is excited about the new platform. He inquiries about the modules Andrew has built so far and the value proposition.

Tweetable Quotes:

• “As much as we do today there is so much more that we are adding to the software.” - Andrew Altfest
• “I am truly excited with all this new stuff, because it is going to liberate so much more time, it is ultimately going to better client’s life.” - Jason Pereira
• “The best way to win pricing against commodity is not to be a commodity.” - Jason Pereira
• “We as an industry need our own propriety technology to showcase our value.” - Andrew Altfest
• “A consumer will never understand the level of complexities that a trained professional will. - Jason Pereira

Resources Mentioned

• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• Woodgate.com – Sponsor
• LinkedIn – Jason Pereira’s LinkedIn
• FP Alpha
• Podcast Editing

Hosted on Acast. See acast.com/privacy for more information.

In this episode, host Jason Pereira talks to Scott Plaskett. As a financial planner, he is in the business since 1993. As a financial planner, he was looking for systems and technologies that would support the need to run the practice.  

Episode Highlights:

• 01.08: Scott shares how he realized there is the ability to create processes and workflow within the systems.
• 01.39: After facing several crashes in the system, Scott was told to put a system in place that is running on its own server. 
• 02.16: Scott gives a piece of insightful information that his firm was one of the first firms to embrace cloud-based technology.
• 02:30: Scott took the help of salesforce.com, which is the apple of all programs. 
• 03:49: Jason shares his preference for salesforce and how people often think it is a CRM platform with giant data on top. It is almost like AWS of CRM.
• 04:35: Jason is curious to know “What does Genie deliver to an advisor who is looking to automate their process better?”
• 04:45: Scott talks about the four components in Genie: The Marketing, Sales, Process / Fulfilment, and Profit Genie. 
• 04:55: Scott also gives insights about the phases and automation that one would go through. 
• 07:26: Most financial advisors grow their business with referrals, and this is extremely important. 
• 08:48: Scott talks about the education-based marketing program of Genie and how it taps the invisible market.
• 09:58: Jason stresses the importance of putting some valuable offer or product in the bang-on impactful market.
• 10:38: Jason asks, “How are you going to articulate your value properly so that clients say wow.”
• 12:15: Scott explains the entire process and emphasizes that they are already overloaded with work as a financial planner, so it is extremely important to keep track of all the work. This is where the sales genie comes into the picture. 
• 12:50: Jason agrees that he has never seen an organization succeed without a proper process. 
• 14:12: Scott discusses the importance of fulfillment in a business. If you don’t deliver on the promise, the entire business is going to fall.
• 17:40: Jason and Scott discuss the importance of maintaining a uniform process. 
• 19:31: Scott tells the listeners about the profit genie, which is more about running a better business.
• 21:56: Scott also guides the listeners that people need to put it in their hat when it comes to building a business. The only way to do that is via information. 
• 23:48: Jason asks what is giving the users of Genie confidence?
• 25:02: Scott explains the importance of confidence and how it helps to improve the process and generate profitable revenue. 
• 27:04: Scott guides his clients to implement the fulfillment genie at first then worry about leads.
• 29:03: Scott’s vision is to remove malpractice from the advised-based industry. 
• 30:00: Jason inquires, “What is the biggest challenge while implementing Genie?”

3 Key Points:

1. Scott throws light on visible and invisible markets. For example, if you are a real-estate agent and you want a property with a waterfront area. The problem is who are the people who want to buy that property, so this comes under the invisible market.
2. It is important to know that you have a workflow managed by a system so that you and your people always know where people are in the process. 
3. Jason enquires about those people who have used the Genie platform and how they have benefitted from it?

Tweetable Quotes:

• “If you are a financial advisor and you don’t have leads coming in then it is not good; it’s kind of like air is to humans as leads is to financial advisors.” - Scott Plaskett
• “Marketing is all about building rapport.” - Scott Plaskett
• “Client is paying you for the process.” - Scott Plaskett
• “Each of the opportunities we identify have different workflows.” - Scott Plaskett
• “If you want to build a business you got to have a platform in place.” - Scott Plaskett
• “The perfect sales is when you show the people this is what you need.” - Jason Pereira

Resources Mentioned

• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• Woodgate.com – Sponsor
• LinkedIn – Jason Pereira’s LinkedIn
• Podcast Editing

Hosted on Acast. See acast.com/privacy for more information.

In this episode host, Jason Pereira talks to Binna Kim founder of Vested. The company is an integrated agency of Fintech and Financial Services Firm. She jokes about her Jerry Maguire moment when she decided to quit and start her firm.

Episode Highlights:

• 02.00 – Binna talks about how brands needed to speak to their clients. Vested wants to work with the best brand in the Financial sector.
• 03:50 – Jason talks about his personal opinion while sharing an example of his friend who is an art director at a media company and how terrible marketing he has seen.
• 04:55 – Jason continues to share that at times how boring and repetitive few ads are.
• 05:06 – Pointing towards the current awareness, Jason asks, “You must be seeing a lot more willingness from tech-start-ups to be different than before?”
• 05:16 – Binna confirms that more regulations are coming into the picture for Fintech companies. 
• 07:17 – Binna shares from her experience that not only the big firms, even the independent firms or small boutiques, come to them and say, “We want our brand to be different; we want to tell a different story.”
• 09:41 – Jason highlights if part of your value proposition is passing on the cost-saving using digital technologies and trying to undercut the competition. 
• 09:50 – The reality is you just destroyed the economics of that business to some degree, and you need massive volume to do that, so it’s not surprising that you will have to play sophisticated games. 
• 11:44 – Jason enquires, “ On the start-up side when they are coming to you and saying you got the millennials now, how can we appeal those people?”
• 12:45 – Binna shares, “They have a much stronger idea about their brand and the kind of brand that they want.” “It is about the tone that they use for branding.”
• 14:49 – Jason raises a concern that when you are marketing one type of consumer and then you raise the bar and going beyond that, how do you help them navigate that?”
• 15:20 – Binna highlights everybody wants to find out their competitive wedge. During such a situation, understanding your “WHY” is essential. 
• 17: 57 – Jason adds that “Lots of companies are now changing their tone and figuring out how to enable relationships.” 
• 19:00 – Binna shares there are so much data available, companies are using AI, ML, Data Science to know their customer
• 20:52 – Binna answers a critical question on diversity and inclusion. When it comes to Fintech companies, the change can happen quickly, but it is not happening.
• 22:04 – Many firms are implementing policies and including women in leadership positions, but there is still a stigma. 
• 24:58 – Binna shares about the one thing that has come out positively in the pandemic. It has virtually connected people. 

3 Key Points:

1. Binna and Jason discuss about acquisitions; more traditional financial companies swallowing small Fintech companies; therefor enabling them to serve more affluent customers as big brands back them. 
2. Binna talks how they have created a brand that is different from the rest. We challenge people to think differently.
3. It is essential to ask yourself, “Am I putting my money behind the right kind of company?” Even for Fintech companies, they had to take cold hard look on their “Why”?

Tweetable Quotes:

• “Fintech companies will now have to look more grown-up” - Binna Kim
• “Start-ups are getting more matured in their marketing.” - Jason Pereira
• “If it does not cross the threshold of comfort, you have probably not reached there.” - Jason Pereira
• “More customers are getting to choose who they are going to work with?”  - Binna Kim

Resources Mentioned

• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• Woodgate.com – Sponsor
• LinkedIn – Jason Pereira’s LinkedIn
• https://fullyvested.com/
• Podcast Editing

Hosted on Acast. See acast.com/privacy for more information.

In this 169th episode of Fintech Impact, Jason Pereira, award–winning financial planner, university lecturer, writer, and host interviews Adrien Treccani, Founder and CEO of Metaco, a company that enables traditional financial institutions to offer their clients blockchain solutions!

Episode Highlights:

• 0:29 – Adrien Treccani introduces Metaco.
• 1:06 – What brought about the genesis of Metaco?
• 3:24 – How did Metaco solve the frictions of cryptocurrency mass adoption?
• 6:15 – What does the client process look like with Metaco?
• 9:16 – Is Adrien seeing a willingness to adopt blockchain solutions out of fear of future regulation?
• 12:14 – How does Metaco’s system of hierarchies and permissions work?
• 14:10 – Adrien breaks down the book on cryptocurrency and blockchain technology that he is currently writing.
• 15:57 – Where does Adrien see Metaco going in the future?
• 17:32 – What is Adrien seeing as the primary reason for purchasing crypto?
• 20:03 – If Adrien could change one thing in his industry, what would it be?
• 21:50 – What has been the biggest challenge in getting Metaco to where it is today?
• 25:43 – Adrien shares what excites him the most about what he is working on.

3 Key Points

1. Regulations, infrastructure, and a lack of market demand were the main frictions preventing institutional adoption of cryptocurrencies.
2. Metaco has taken the best and largest traditional bank models and adjusted them for the age of digital assets.
3. At this stage, Adrien is not seeing massive adoption of cryptocurrencies as payment options, rather as an investment.

 Tweetable Quotes:

• “Governance we think is really where we find is in pretty much everything on the market today.” – Adrien Treccani
• “The fact of the matter is having some degree of optional socialization is a comfort that most investors will ask for.” – Adrien Treccani
• “Having one person with control over the keys is not a smart thing because what happens if that one person goes?” – Jason Pereira
• “Anyone who laughed at the concept of tokenizing asset classes just didn’t understand.” – Jason Pereira

Resources Mentioned:

• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• FintechImpact.co – Website for Fintech Impact
• JasonPereira.ca – Sign up for Jason Pereira’s newsletter
• Woodgate.com – Website for Woodgate Financial
• Metaco.com – Website for Metaco

Hosted on Acast. See acast.com/privacy for more information.

In this 168th episode of Fintech Impact, Jason Pereira, award–winning financial planner, university lecturer, writer, and host interviews Dan DeMers, CEO and Cofounder of Cinchy, a next–generation data–management platform that utilizes data fabric with the end goal of data autonomy!

Episode Highlights:

• 0:43 – Dan DeMers introduces himself and Cinchy.
• 2:27 – What was the problem that Dan was trying to solve when he started Cinchy?
• 5:05 – Dan and Jason discuss the nature of code and the realization of data as a core asset.
• 6:56 – Jason and Dan explain why the silo system is not scalable.
• 10:09 – What are the hurdles and limitations of data lakes?
• 11:48 – Dan explains “data fabric” and what problems it solves.
• 15:21 – Jason and Dan discuss the relation of Metcalfe's Law to data fabric.
• 17:33 – Dan and Jason explain the value of data and what it means to every individual.
• 22:14 – What kind of reception has Cinchy gotten from the major institutions that it works with?
• 26:52 – Jason and Dan explain why we are on the cusp of a generation of people who all do some form of coding.
• 29:31 – If Dan could change one thing in his industry, what would it be?
• 31:29 – What has been the biggest challenge of getting Cinchy to where it is today?
• 32:29 – Dan explains what excites him the most about his work.

3 Key Points

1. Roughly 50% of all IT budgets go to integration and data management, including APIs and all the byproducts of data being fragmented.
2. Data lakes are filled with fragmented and unorganized data with quality issues that allow you to do analytics at best because it is all just a copy.
3. Acceleration of low–code and no–code has put the world on the cusp of a generation of which everyone knows how to code to some degree.

Tweetable Quotes:

• “We’re so used to a world where data is siloed and it’s subservient to an application.” – Dan DeMers
• “If you ever have to rekey something into two different systems, it’s a failure.” – Jason Pereira
• “If I have to pay my vendor to access my data, is it really my data?” – Jason Pereira
• “You have to take the action. It’s not going to fix itself. The data is not going to self–repair, sadly.” – Den DeMers

 Resources Mentioned:

• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• FintechImpact.co – Website for Fintech Impact
• JasonPereira.ca – Sign up for Jason Pereira’s newsletter
• Woodgate.com – Website for Woodgate Financial
• Cinchy.com – Website for Cinchy

Hosted on Acast. See acast.com/privacy for more information.

In this 167th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Arin Klug, Cofounder of Epilogue, an online will kit that helps people leave behind a legacy that does not bring their loved ones massive pain by enabling them to take control of their will!

Episode Highlights:

0:32 – Arin Klug introduces Epilogue and how it helps people.

1:06 – How did Epilogue come to fruition and what motivated its creation?

3:38 – What is the average situation that Epilogue applies to?

5:10 – Where is the line drawn for Epilogue when it comes to whose will it can help create?

10:23 – Jason and Arin discuss the value of lawyers in the will process.

11:50 – What does the Epilogue client experience look like?

14:26 – Arin explains what happens when there are changes in estate law.

16:50 – Jason and Arin discuss how the costs of lawyers interrupt changes to the will.

20:17 – Does everyone really need to pay for the premium financial planning services?

21:23 – Arin breaks down the four documents that are included in Epilogue’s process.

24:27 – Where does Arin see Epilogue going from here?

27:51 – If Arin could change one thing in his industry, what would it be?

28:15 – What has been the biggest challenge of getting Epilogue to where it is today?

29:53 – Arin explains what excites him the most about his work.

3 Key Points

1. Epilogue helps people create a legally binding will in as little as twenty minutes online, a far cry from the months–long process for a typical will.
2. Arin and his business partner started Epilogue with the thought of how many people they could disqualify from the process because they know that no system is right for everyone.
3. Funeral instructions included in the will are not legally binding, so Arin advises his clients to put those in a separate document and share those with family members to make sure that they are carried out.

 Tweetable Quotes:

• “If you want your family to hate you after you’re gone, go ahead and die without a will.” – Jason Pereira
• “You can’t write a will that’s against public policy and public policy is always changing.” – Arin Klug
• “The perception of cost often leads to conversations not even happening in the first place.” – Jason Pereira
• “Death hurts the living as much as it hurts the dead.” – Jason Pereira

Resources Mentioned:

• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• FintechImpact.co – Website for Fintech Impact
• JasonPereira.ca – Sign up for Jason Pereira’s newsletter
• Woodgate.com – Website for Woodgate Financial
• Epiloguewills.com – Website for Epilogue

Hosted on Acast. See acast.com/privacy for more information.

In this 166th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Abraham Okusanya, CEO and Founder of Timeline. Timeline is an online platform that allows people to stress test the decumulation phase of their life and come up with a plan to deal with it!

Episode Highlights:

• 0:34 – Abraham Okusanya introduces Timeline.
• 1:18 – Jason discusses the conflicting aspects and uncertainty of decumulation.
• 1:52 – What was Abraham’s journey that led him to start Timeline?
• 5:47 – Jason explains his biggest problems with financial plans.
• 6:27 – What are the client inputs and outputs involved when working with Timeline?
• 10:36 – Abraham explains how Timeline compares client expectations to reality.
• 12:31 – What are the various spending rules that Timeline uses to adjust based on reality?
• 16:54 – How does Timeline’s Floor and Ceiling rule work?
• 18:39 – Abraham compares Timeline’s Floor and Ceiling rule to Michael Kitces’s Ratcheting rule.
• 22:13 – Jason and Abraham discuss the benefits of discussing the realities of volatility with the client.
• 23:02 – What is a withdrawal policy statement and what does it tell people?
• 25:42 – If Abraham could change one thing about his industry, what would it be?
• 26:32 – What has been the biggest challenge in getting Timeline to where it is today?
• 27:51 – Abraham shares what excites him the most about his industry.

3 Key Points

1. Timeline is a retirement income platform that helps financial planners and enterprises create simple withdrawal strategies for their clients by applying extensive data.
2. Right now, most people are expected to run out of money ten years short of the average life expectancy.
3. Timeline’s Floor and Ceiling rule affects how you increase your withdrawal based on inflation and portfolio performance.

Tweetable Quotes:

• “Ultimately, our mission is to create retirement income plans where the money outlives the people.” – Abraham Okusanya
• “The Law of Gravity is a law because it’s an observed law and we know it’s going to work. The 4% rule is not a law, it’s an observation.” – Jason Pereira
• “That’s the worst thing, an academic or a researcher will create something that a marketing department will run rampant with.” – Jason Pereira
• “All we can do is to bring the reality of volatility straight in front of them because they are far better prepared for it.” – Abraham Okusanya

Resources Mentioned:

• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• FintechImpact.co – Website for Fintech Impact
• JasonPereira.ca – Sign up for Jason Pereira’s newsletter
• Woodgate.com – Website for Woodgate Financial
• Timelineapp.com – Website for Timeline
• Kitces.com – Website for Michael Kitces

Hosted on Acast. See acast.com/privacy for more information.