The Legends of WealthTech is a series about the history and evolution of the advisory business, featuring professionals who have powerfully shaped the industry.
This week, Jack talks with Paul Hatch, Founding Partner and CEO at Vestria Capital. Paul oversees the firm's strategic vision, operations, and growth. Before becoming an entrepreneur, Paul held senior leadership roles at Citibank, UBS, and Morgan Stanley, responsible for developing and managing a wide range of investment products, services, and markets for the wealth management divisions.
Jack and Paul talk about the history of managed money, its growth from a niche offering to a cornerstone of modern wealth management, and how it drove the evolution of industry giants. They also discuss the cultural integration challenges during mergers and acquisitions and how client-centric advisory services overcome these hurdles.
In this episode:
[01:28] - How Paul got started in the advisory industry
[04:01] - Paul's transition to managed money
[10:27] - The evolution of managed money
[16:15] - Cultural challenges
[20:09] - Paul's career transition from large firms to independent ventures
[24:44] - Vestria Capital's role in the advisory space
[27:33] - Paul's key takeaways
[28:49] - Paul's interest outside of work
Quotes
[11:34] - "UMAs showed they were a better solution for the clients. It brought costs down, and most importantly, it meant that you were managing as a portfolio, not as a series of asset classes." ~ Paul Hatch
[17:55] - "When you raise your right hand and swear that you are going to do what is best for the client, that's really what advisory business is all about." ~ Paul Hatch
[22:46] - "I don't think it's enough that you service clients. You have to show them the results." ~ Paul Hatch
Links
Paul Hatch on LinkedIn
Vestria Capital
Citi Bank
UBS
Morgan Stanley
Len Reinhart
Frank Campanale
Money Management Institute
Roger Paradiso
James Gorman
Jed Finn
Ben Huneke
Connect with our hosts
LifeYield
Jack Sharry on LinkedIn
Jack Sharry on Twitter
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