Jason Pereira talks to Kevin Victor, VP of Sales & Partnerships at Mako Financial Technologies. It is essentially SASS for wealth workflow automation.
Episode Highlights
- 02.00: Kevin says that in 2018 it seemed very difficult to have strong remote operations and that in itself was a challenge. More importantly it has always been a headache that private equity firms, VC firms, alternative investment firms, or anyone who ultimately leverages this agreement to complete investor onboarding are an absolute nightmare.
- 04.30: Kevin talks about the unique type of workflow arrangement. How do you go from your firm's internal documents to the wide variety of account opening forms while going between a household to just let alone individual investor documents, non-Reg, TFSA, RSP?
- 08.01: Most advisors have discretion over how they manage money. If you are dealing with major bank, Jason can pretty much guarantee you that if he goes to 12 different advisors at random, they all have different portfolios and how they match.
- 09.50: Different firms have different offerings or more focused offerings, and we are simply going to configure and supply that for you, says Kevin.
- 11.05: Kevin talks about digitizing investment selection, digitizing unique firm documents, digitizing standard custodian forms, or any other third party after relying upon to execute client's operations with the capacity to do so. Let's analyze it for the client and give them solutions that make sense.
- 14.26: Mako has the ability of doing three things, collecting data and the data is up to grabs. Populating forms that everybody wants to populate and creating the workflows, says Jason.
- 20.57: God forbid you are at the 9th inning as an advisor, and you identified a mistake by the custodian. You just have to simply resend the fix, or all interact within the platform, and the client is still going to receive that same white label experience, says Kevin.
- 21.34: You don't have to start from the beginning, so the burden and efficiency are the burden is being resolved. The efficiencies that are being gained by the advisor, same experience for the investor, the turnaround time is important as well if we are reducing the burden of, operational deficiencies, human errors now go up things that are now being corrected on the advisor's behalf. They are going to be able to execute and open up the client's account much faster. They are going to be able to complete that transfer in much faster.
3 Key Points
- Kevin talks about the genesis of the company and where did the idea of launching it come from?
- Kevin shares how Mako Financial has created something that adapts to handle high variability; the firm and accounts for a 10/10,000 fund codes that exist in this country and all the ETF. He talks about how his company deals this large degree of complexity.
- Jason and Kevin talk about advisor and firm complexity issue and also about the complexity in dealing with different custodians.
Tweetable Quotes
- "Digitizing was easier for Robo advisors, because they were a homogeneous uniform group." - Jason
- "For relationships where you don't have full integration, we also have other options." - Kevin
Resources Mentioned
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