Wednesday, July 27, 2022
HomeWealth ManagementAdvisor Improvements: Jason Wenk on Scaling Advisor Expertise

Advisor Improvements: Jason Wenk on Scaling Advisor Expertise


Sponsored by LPL Financial logo

On this episode, David Armstrong is joined by founder and CEO of Altruist, Jason Wenk, to speak concerning the state of advisor expertise and the transfer towards consolidation of onboarding, custodial providers, buying and selling, account administration and portfolio reporting with digital functions. Wenk explains why the present state of advisory expertise wanted a kick to carry it nearer to what advisors, and purchasers, anticipate. He shares his journey as an advisor and an entrepreneur, why he began Altruist, the way it has advanced, and the place it’s aiming to go within the subsequent few years.

Jason discusses:

  • The issues with the present slate of advisor expertise that Wenk got down to clear up with Altruist (trace: Easy, free-flowing integrations between separate parts in a tech stack is essentially a fable.)
  • Why custodial providers can’t scale by charging advisors a foundation level price—and in reality why that sort of construction, advocated by some RIAs, would hinder custodial innovation and the democratization of monetary providers.
  • How a capability to maintain decrease margins than different custodial providers available in the market permits him and his crew to proceed innovating new options on the platform.
  • Why Altruist fees new advisors nothing till they attain 100 accounts, and the way the platform is designed to assist advisors scale their apply alongside the platform. 
  • How Altruist is misperceived by some as a tech platform for brand spanking new advisors launching practices, when in truth it has multi-custodial capabilities and advisors at RIAs with over $10 billion serving HNW purchasers simply as effectively—In truth, Wenk nonetheless advises 11 HNW purchasers himself. 
  • Wenk’s expertise beginning his first RIA, and constructing the expertise he wanted when he couldn’t get it from {the marketplace}—and his present relationship with FormulaFolios after the merger with Brookstone Capital Administration.




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