The Tech Stack Revolution with Craig Iskowitz
WealthTech on Deck
English - August 15, 2023 07:00 - 29 minutes - ★★★★★ - 16 ratingsInvesting Business Marketing Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In pursuing an optimized tech stack, wealth management firms are engaged in a relentless game of integrating and coordinating their operating systems. From sophisticated analytics tools to artificial intelligence-driven platforms, these advancements hold immense potential for both financial advisors and their clients. As the trend gains momentum, firms realize the need for comprehensive and strategic approaches to their technological infrastructure.
In this episode, Jack talks with Craig Iskowitz, Founder and CEO of Ezra Group, a strategy consulting firm providing technology and business advice to banks, broker-dealers, asset managers, private equity, and fintech firms. In addition to providing customized solutions to the wealth management industry, Craig publishes WTToday, a blog offering the latest insight on technology for wealth, asset, and investment management professionals. Craig also hosts the WealthTech Today podcast, where he discusses, dissects, and debates the latest news and trends in wealth management technology.
A business and technology strategy consultant, Craig talks to Jack about the latest trends in wealth management technology and the challenges that firms face in implementing new technology. He also shares his insights on the shift toward more advanced wealth management platforms and how the game is on for integrating and coordinating wealth advisor operating systems.
Key Takeaways
[01:21] - What makes up the Ezra Group?
[02:25] - Craig's backstory and experience in the wealthtech industry.
[04:14] - The impact of COVID on Ezra Group.
[07:41] - An introduction to Pershing's Wove platform.
[10:14] - Craig's advice for legacy firms with tech debt.
[11:19] - The trend toward more advanced wealth management platforms.
[15:03] - The importance of coordinated capabilities in improving user experience.
[17:25] - What the future holds for the wealthtech industry.
[21:07] - How the game is on for integrating and coordinating wealth advisor operating systems.
[22:12] - Craig's three key takeaways.
[26:23] - Craig's interests outside of work.
Quotes
[22:32] - "If you're an enterprise wealth management firm, we always recommend setting up an annual tech stack review. Get the stakeholders from across the company and go top to bottom through your tech stack." ~ Craig Iskowitz
[23:40] - "Most wealth management firms barely use 20% of the feature functionality of the software they're using. But they're paying for 100%." ~ Craig Iskowitz
[24:39] - "Do not put your private company data into ChatGPT or any other GPTs. If you let your internal company documents, spreadsheets, or even client PII paste into ChatGPT, they own that data and can use it to generate new content for someone else." ~ Craig Iskowitz
Links
Craig Iskowitz on LinkedIn
Craig Iskowitz on Twitter
Ezra Group
Morningstar
Orion Advisor Solutions
Pershing
Riskalyze
Advisor Group
LPL Financial
Cetera Financial Group
Wove | Pershing X
Envestnet | Tamarac
Connect with our hosts
LifeYield
Jack Sharry on LinkedIn
Jack Sharry on Twitter
Subscribe and stay in touch
Apple Podcasts
Spotify
In pursuing an optimized tech stack, wealth management firms are engaged in a relentless game of integrating and coordinating their operating systems. From sophisticated analytics tools to artificial intelligence-driven platforms, these advancements hold immense potential for both financial advisors and their clients. As the trend gains momentum, firms realize the need for comprehensive and strategic approaches to their technological infrastructure.
In this episode, Jack talks with Craig Iskowitz, Founder and CEO of Ezra Group, a strategy consulting firm providing technology and business advice to banks, broker-dealers, asset managers, private equity, and fintech firms. In addition to providing customized solutions to the wealth management industry, Craig publishes WTToday, a blog offering the latest insight on technology for wealth, asset, and investment management professionals. Craig also hosts the WealthTech Today podcast, where he discusses, dissects, and debates the latest news and trends in wealth management technology.
A business and technology strategy consultant, Craig talks to Jack about the latest trends in wealth management technology and the challenges that firms face in implementing new technology. He also shares his insights on the shift toward more advanced wealth management platforms and how the game is on for integrating and coordinating wealth advisor operating systems.
Key Takeaways
[01:21] - What makes up the Ezra Group?
[02:25] - Craig's backstory and experience in the wealthtech industry.
[04:14] - The impact of COVID on Ezra Group.
[07:41] - An introduction to Pershing's Wove platform.
[10:14] - Craig's advice for legacy firms with tech debt.
[11:19] - The trend toward more advanced wealth management platforms.
[15:03] - The importance of coordinated capabilities in improving user experience.
[17:25] - What the future holds for the wealthtech industry.
[21:07] - How the game is on for integrating and coordinating wealth advisor operating systems.
[22:12] - Craig's three key takeaways.
[26:23] - Craig's interests outside of work.
Quotes
[22:32] - "If you're an enterprise wealth management firm, we always recommend setting up an annual tech stack review. Get the stakeholders from across the company and go top to bottom through your tech stack." ~ Craig Iskowitz
[23:40] - "Most wealth management firms barely use 20% of the feature functionality of the software they're using. But they're paying for 100%." ~ Craig Iskowitz
[24:39] - "Do not put your private company data into ChatGPT or any other GPTs. If you let your internal company documents, spreadsheets, or even client PII paste into ChatGPT, they own that data and can use it to generate new content for someone else." ~ Craig Iskowitz
Links
Craig Iskowitz on LinkedIn
Craig Iskowitz on Twitter
Ezra Group
Morningstar
Orion Advisor Solutions
Pershing
Riskalyze
Advisor Group
LPL Financial
Cetera Financial Group
Wove | Pershing X
Envestnet | Tamarac
Connect with our hosts
LifeYield
Jack Sharry on LinkedIn
Jack Sharry on Twitter
Subscribe and stay in touch
Apple Podcasts
Spotify