This Week on The Fuse Show, Natalie and Brian talk with Joe Duran and Terri Kallsen of Rise Growth Partners. Joe is a serial entrepreneur and an industry visionary in wealth management and wealth tech. Most recently Joe was a Partner at Goldman Sachs as Co-Head of the Workplace and Personal Wealth business. Joe founded and was CEO of United Capital, one of the nation’s largest independent wealth management firms, which was acquired by Goldman Sachs in July, 2019. Prior to that he built and sold Centurion Capital, one of the first Turnkey Asset Management Platforms to General Electric where he served as President of GE Private Asset Management (now NYSE listed AssetMark.) He has written three books on investing and entrepreneurship and has been on the New York Times and USA bestseller lists. Joe is a sought after conference speaker and appears frequently on a broad spectrum of media from CNBC to Goop. Joe has MBAs from Columbia University and UC Berkeley, and an undergraduate degree from Saint Louis University. He is a CFA Charterholder and a member of YPO. He has been a Yogi for decades, meditates daily and is an avid beach volleyball player. Joe is married to Jennifer and they have three daughters that they cherish.  They live in Laguna Beach, California and Tribeca, New York. They travel frequently, love dining, dancing and live concerts.

Terri is an award-winning high growth Wealth Management Executive, leading RIA growth, digital solutions, and innovative ways to improve service and scale for Advisors and Clients. Terri was honored as the San Francisco Financial Woman of the Year in 2019 for her dedication to mentoring others in the community and empowering women in the workplace. Terri is the former COO of Wealth Enhancement Group (WEG) where she led Advisor Teams, Platform/Digital Strategy, High Net Worth & Trust Services. Prior to WEG, she was Executive Vice President of Investor Services at Charles Schwab, leading 7,000 employees and $1.6T in AUM. Her tenure at Charles Schwab was highlighted by multiple JD Power awards for client satisfaction, a clear testament to her commitment to delivering top-tier service. Terri is a 2019 graduate of the University of Chicago Booth School of Business Financial Management/CFO Program. She holds a Master’s Degree from the University of Wisconsin – Oshkosh and Bachelor Degree from the College of St. Benedict/Saint John’s University. Terri is Certified Financial Planner™.  Terri serves on the CFP® National Board of Directors. Terri is an enthusiastic marathon runner who has completed 21 marathons, 50 half marathons, and even more triathlons. She was awarded the Abbot Labs World Marathon achievement. She enjoys hiking Mount Tamalpais, boating to Napa Valley, and mentoring others to foster positive change. She also volunteers with the Oakland Homeless Shelter Shower program. Terri lives in the San Francisco Bay, with her husband, Scott of 30 years, and has three children and two dogs.

Key Takeaways

• [03:22] - Terri has completed 21 marathons. What has running taught her about resilience, perseverance and leadership?
• [05:45] - Learn more about Joe’s yoga practice and why he recently took up beach volleyball.
• [08:25] - If Terri and Joe had to switch industries overnight, what would each of them like to do professionally?
• [10:26] - Learn more about their work at Rise Growth and about what is keeping them motivated and passionate this deep into their respective careers.
• [15:59] - What are some of the biggest potential opportunities in 2025 for firms that have made it past that first “entrepreneurship stage” and are hoping to grow more?
• [22:05] - What is going to be the most critical and transformative technology in 2025?
• [29:17] - Specific examples of how consumer and advisor expectations may shift in the coming years and advice on how advisors can get in front of these shifting needs.
• [35:14] - What might a great client portal experience look like in practice?
• [36:20] - How might we implement hyper-personalization at scale for our clients?
• [44:50] - What are the biggest challenges, or industry shifts, that advisors should prepare for in the next few years?
• [48:50] - What futuristic or sci-fi invention would Joe and Terri wish for if they could snap their fingers and bring it about?

Quotes

[07:02] - "...Planning and wealth management is really about not doing what feels good, but doing what is good, and that usually means some short-term pain for long-term success…that’s true of all endeavors in life I think…If I have what feels good, it’s probably not good for me right? That trade off is a delicate and important balance we all need to learn, and I think that’s the role of great advice [as well]." ~ Joe Duran

[19:44] - "Natalie, one part of your question was, ‘What would you tell advisors for 2025? They’ve moved beyond that unsellable practice and they want to get to be a much larger firm…’ The advice I always received as an advisor and a leader in this industry is ‘what got me here, won’t get me there.’" ~ Terri Kallsen

Links

• Joe Duran on LinkedIn
• Terri Kallsen on LinkedIn
• Rise Growth Partners

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• Meet Brian McLaughlin
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Compliance Code: 3028-OAT-11/25/2024