Using Transparent Data and Personalization to Build Trust and Improve Client Outcomes with Lori Hardwick

In this episode, Jack talks with Lori Hardwick, Chairman of Riskalyze and Board Member at firms like Orion Advisor Tech and Cetera Financial Group.

Lori began climbing the financial services ladder working as a wholesaler. In 1997 she had her first baby and realized the wholesaler lifestyle didn’t mesh with motherhood. So she pitched an idea to her senior executive team about starting an RIA program back when RIAs were still relatively new to the industry. She then left to start her own firm, Envestnet. 

After decades as a leader in the industry, Lori describes the successes and failures that sometimes unfold when old tech meshes with emerging tech, and why culture determines the success of that merger. She also describes why financial tech is in direct competition with giants like Amazon and Google, and why our technology must allow clients to engage and interact in a way that’s personalized.

Jack and Lori discuss the importance of showing clients quantifiable benefits, why advisors should take inventory of the software at their fingertips, and the necessity of hyper-personalization. 

"We need to make sure we’re not just allowing for transparency to the data, but also the ability to interact with it. The one thing I truly believe is that transparency and the ability to interact digitally will build trust with that advisor. The more they can see, the more they trust their advisor, and that is critical to building those long-term relationships and keeping those clients happy.” ~ Lori Hardwick

Main takeaways 

• The ease of data transfer from one platform to the next has been a fantastic change for the financial industry. It helps improve the experience for advisors and clients alike.
• It’s important for clients to be able to see everything in one place. They should have one interface that connects the dots for them.
• When clients interact with an advisor’s technology, they interpret that as an experience with their advisor. Tech must be top-notch for the sake of an advisor’s reputation.
• The financial industry needs to listen to what clients actually want so we can create and fine-tune technology to meet those needs. 

Links

• Lori on LinkedIn
• Riskalyze
• Envestnet
• Orion Advisor Tech
• Cetera Financial Group
• Nuveen
• Pershing
• Advisor Innovation Labs 
• RedRock Strategies
• Genstar Capital
• Credential Financial
• Morgan Stanley’s GPS
• Aladdin
• North American Wealth Management: Money In Motion, But Not Always To The Bottom Line
• Vestwell
• Authentic & Ethical Persuasion by Jack Sharry
• The Vision For 2025: Hyper Personalized Care and ‘Care Of One’
• Ben Franklin Technology Partners 

Connect with our hosts

• LifeYield
• Jack Sharry on LinkedIn
• Jack Sharry on Twitter

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