Ep 162: How Financial Firms Can Optimize through Technology with Jeff Schwantz

In this episode of Bridging the Gap, Jeff Schwantz and Matt Reiner dive into the pressing issue of the costs associated with inaction in technology investment within firms. They explore the significant pressure firms face from private equity demands for growth and scalability, underlining the crucial need to comprehend the tangible benefits of technology investments. The discussion delves into the struggles firms encounter with technology integration and operational efficiency, emphasizing the necessity of a unified perspective from advisors, support teams, and leadership to effectively navigate these challenges.
As the conversation progresses, Jeff and Matt highlight the evolving landscape of technology in the financial advisory industry, noting the shift towards all-in-one solutions from multiple integrated tools. They address the risks of stagnation and regression in innovation due to fear of incorrect technology choices and resource limitations among firms. Jeff stresses the importance of timely technological adoption to boost productivity, especially in optimizing client interactions and leveraging data efficiently for streamlined processes like client meeting preparations.
Key takeaways from the episode emphasize the critical need for firms to recognize the significant risk and potential cost of inaction in technology investment, prioritize comprehensive understanding and alignment within all levels of the organization for successful technology integration, and view technological solutions as a requisite progression rather than optional, with a focus on enhancing efficiency and client service rather than merely adding new tools.
Timestamps From This Episode
[11:34] Utilizing technology in a holistic and future-focused manner is essential, requiring dedicated resources to avoid a fragmented approach. It’s crucial to balance the use of technology with the primary focus on relationships and the people aspect of the business. This requires careful consideration to prevent hindering innovation in the industry.
[20:05] Organizations seek margin and scalability improvements while facing pressures for integration and consolidation onto single platform. Various factors like private equity considerations are influencing conversations and determining business strategies.
[23:36] Assessing business needs and priorities for growth involves considering financial planning, organic and inorganic growth strategies, services focus, digital transformation, and decision-making priorities.
[34:44] Embrace slow progress rather than doing nothing. Understand the cost of inaction, and continue making steady progress towards your ultimate goal.


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Bridging the Gap is a financial podcast hosted by CEO Matt Reiner focused on bringing together leaders from the finance and the technology industries to focus on innovating the financial services industry.