In this episode, Jack talks with Christina Townsend, Managing Director and Head of Relationship Management, Consulting, and Platform Strategy at BNY Mellon’s Pershing.
Christina coaches RIA firms on how to make smart technology decisions and how to devise strategies to strengthen their relationships with investors. For more than two decades with Pershing, Christina was able to work directly with clients and was responsible for product management and implementation.
Christina talks with Jack about choosing what goes best in your tech stack, balancing the roles of people and tech in business, and the future of wealthtech.
“The balance between people and technology is different and it doesn't have to be the same. You have to look at where your value proposition is and what you want to differentiate and then apply the people in the technology.” ~ Christina Townsend
Main Takeaways
Be eager to find the right pieces that fit in your tech stack. Each one must work well with the others. If there still exists an outdated tool, for example, you're not fully utilizing its impact on your operations.
People + tech is the future. If we want to practice holistic financial advice, firms must focus on honing talents while consolidating tech tools.
We can create more value in every interaction with tech. After gaining some clarity on the clients' needs, it is then easy to utilize the tools to arrive at the best solutions.
Go digital. However, before doing so, make sure tools are properly integrated into the existing system.
Links
Christina Townsend on LinkedIn
Pershing
BNY Mellon
Bates College
Donaldson, Lufkin & Jenrette
WealthTech on Deck 028: Creating a Frictionless Investor Experience with Noreen Beaman
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Jack Sharry on LinkedIn
Jack Sharry on Twitter
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