WealthTech in the Weeds is a series covering the broad yet critical path to financial services. The goal is to get together with industry experts and get into the details of building an effective, productive, coordinated, and comprehensive advice system.

The wealth management industry is moving away from individual products and strategies and shifting toward a more coordinated approach with comprehensive advice systems that incorporate the entire scope of investors' household accounts. Firms like Franklin Templeton and LifeYield are at the forefront of this evolution, leveraging technology and partnerships to provide better financial outcomes for clients and advisors.

In this episode, Jack talks with Roger Paradiso, Global Head of Advisor Portfolio & Technology Solutions at Franklin Templeton and Executive Chairman at O'Shaughnessy Asset Management, and Mark Hoffman, Co-Founder and CEO of LifeYield. They discuss the shift in the wealth management industry toward a more coordinated approach to improving financial outcomes for clients. Roger highlights Franklin Templeton’s comprehensive advice capabilities, focusing on personalization, customization, and curation of solutions. Mark talks about LifeYield’s role in connecting and optimizing various capabilities to create better portfolios and solutions.

Key Takeaways

Quotes

[03:18] - "While our core belief in business is always around the manufacturing of great investment solutions and products, if you really want to remain relevant in the industry going forward, you need to do more than that. You always need to have core products, great investment performance, and a broad swath of solutions." ~ Roger Paradiso

[08:49] - "Franklin Templeton has assembled all the right pieces to create customized strategies and advice for financial advisors." ~ Mark Hoffman

[36:07] - "Our business is evolving fast. Technology is becoming more powerful, and clients demand a much higher level of relationship and solution." ~ Roger Paradiso

[36:34] - "We see the retirement market evolving at a hastened pace. This retirement advice, the wheel of wealth, and the client's choices to customize their solution to get a better outcome is the key for any firm in the wealth management space to be aware of." ~ Mark Hoffman

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