June 08, 2015

Steve Sanduski on Robo Up or Get Left Behind

42 minutes

Consumers are getting spoiled with services like Uber, Airbnb, Netflix, and the iPhone and they expect the same level of ease and access when working with an advisor. If you don’t deliver it, you’ll lose clients to advisors who will. In today’s podcast, I discuss the conversations I had in New York last week with Betterment founder and CEO Jon Stein, Personal Capital co-founder and CEO Bill Harris, and the on-stage duo of Ric Edelman, chairman and CEO of Edelman Financial Services and Bill Bachrach, founder and CEO of Bachrach & Associates. You’ll learn…

How Betterment’s RetireGuide is the latest example of a Robo firm quickly moving up the complexity scale and digitizing what used to be solely done by financial advisors.

The one thing both Jon Stein of Betterment and Bill Harris of Personal Capital told me financial advisors should be scared of.

What Jon Stein thinks of the traditional 1% AUM fee and his take on Vanguard’s new hybrid advice offering.

The metrics behind Personal Capital’s conversion of clients from account aggregation to directly managed assets.

Why Ric Edelman firmly believes half of all financial advisors will be gone within the next 10 years and what you can do to NOT be one of them.

What Ric Edelman believes the advisor/client relationship will look and feel like in the future.

My main reason for visiting New York last week was to attend Singularity University’s Exponential Finance Conference. Today’s podcast is the first of two podcasts that will address some of the things I heard at this event. While some of the things discussed at the event were “way out there,” my role is to connect the dots and translate what I’m hearing and seeing into practical ways for you to grow your business and make it more profitable.

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By Steve Sanduski

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