Jason talks to Jud Mackrill, co-founder of Milemarker & Mammoth, who has been on the show before. The discussion centers around the challenges related to data and data management in the industry. For the past 15 years, many conferences have complained about the quality of data, its location, and how it's often siloed. Jud is working on a solution to address these issues.

Episode Highlights 

• 0:56: The company's main goal is to address issues related to connectivity, integration, and operational efficiency for firms that may not have the resources to specialize in these areas due to their focus on taking care of their clients' needs.
• 01:40: Jason and Jud discuss the challenges faced by average RAs (Risk Analysis) depending on their size.
• 06:27: Jud emphasizes that Milemarker's goal is not to compete with internal teams but to assist and augment their efforts.
• 08:30: Milemarker helps integrate data and information so that when the Home Office receives requests from the field, they are intelligent and specific to the unique office or role making the request.
• 16:37: Mammoth is an opportunity to modernize and streamline the process of handling alternative investments.
• 19:54: Mammoth offers a single pane of glass solution that integrates with various technologies used by wealth management firms. The platform helps advisors manage alternative investments more efficiently and addresses the complexities involved in handling such investments for clients.
• 21:45: The guest emphasizes the importance of having professional-grade software and processes to support technology and compliance efforts, especially as more firms transcend into becoming media and technology companies alongside their core service offerings.
• 24:19: Being data-driven and having a clear point of view can provide a significant advantage to companies in the long run.

3 Key Points

1. Jud describes their approach to the consulting process, which involves writing a plan and designing how the data management and integration should work.
2. Jud explains some of the quick wins and secondary wins that their consulting services provide to their clients.
3. While technology can support the advisor-client relationship, the human element of personalized service will always be essential and cannot be fully scaled.

Tweetable Quotes

• "As for the benefits of the consulting process, once the data challenges are identified and understood, the firms can leverage the solutions provided by Milemarker to improve data connectivity, integration, and operational efficiency." – Jud
• "It's very common for technology teams to be consumed with daily operational tasks and support, leaving little time for strategic planning and comprehensive data management." – Jud
• "A study by Fidelity, which found that many firms are acquiring other companies with clients that don't generate profits for the acquiring firm." - Jud

Resources Mentioned:

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

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