The nature of financial advice is changing. New technologies, consumer behavior, and regulatory pressures force traditional financial firms to rethink their business models. Similarly, fintech companies seek to disrupt the status quo with innovative approaches to financial advice.
In this episode, Tommy talks with Jud Mackrill, Co-Founder at Milemarker and General Partner at Mammoth. Jud is passionate about modernizing independent wealth management and helping make private investment more accessible and transparent throughout the fast-growing Registered Investment Advisory (RIA) channel. At Mammoth, Jud has developed one of the venture capital and private investment industry's earliest technology infrastructures that allow for automated workflows and clear communication for Mammoth with investors and portfolio companies.
Jud talks with Tommy about his journey into fintech and wealth management, how his partnership with Vestia has transformed the company's client experience, and how he helps financial firms navigate the future of financial advice.
Key Takeaways
[01:26] - Jud's backstory and how he found his way into the fintech industry.
[05:22] - How Orion laid the foundation for Jud's career.
[12:29] - How Orion has transformed Jud's life.
[15:33] - The beginning of Jud and Tommy's working relationship.
[20:22] - How Vestia provides exceptional service to its clients.
[24:49] - The story of how Milemarker came to be.
[31:08] - How Jud helps financial firms navigate the future of financial advice.
[37:26] - Some of the brands Jud supported when he first started marketing.
[39:16] - What motivated Jud to hire family members and friends.
Quotes
[08:57] - "I enjoy the measurability and objective nature of business, the impact that business can have on people's lives, and how I can help create great futures for many people." ~ Jud Mackrill
[21:30] - "The future of financial advice is going well beyond managed accounts and beyond what people are directly asking you for. This isn't a commoditized industry. This is a part of your family that cares about you, is looking out for you, and is working to architect the life you want." ~ Jud Mackrill
[36:26] - "We want the experience for financial advisors and, ultimately, for the investors to have a very seamless, single experience with their advisor who can articulate why they're doing these investments within the language of planning that they use so that they can trigger and guide based on the behavioral experience that is aligned with the personality and the goals of the investor." ~ Jud Mackrill
Links
Jud Mackrill on LinkedIn
Jud Mackrill on Twitter
Milemarker
Intelligent Alternative Investing | Mammoth Institutional Services
Orion Advisor Technology
TD Ameritrade
Fidelity Investments
Wells Fargo
Randy Lambert
Daniel Crosby
Vestia Personal Wealth Advisors
Carson Group
Lauren Oschman
Brad Quick
Michael Trent
Erin Heck
Kyle Van Pelt
Brian Chesky
Airbnb
Connect with our hosts
Mammoth
Tommy on LinkedIn
Subscribe and stay in touch
Apple Podcasts
Spotify
Google Podcasts
Learn more about Mammoth Scientific's Health & Tech Fund 1
When you move beyond the point of making sure your retirement goals are on track, your investment opportunities are wider than just publicly traded funds. Step into the world of investing in venture capital by learning more about Mammoth Scientific's Health & Tech Fund 1. Curated by some of the leading medical and fintech experts, Mammoth's Fund 1 is paving the way for health science and tech innovation. If you're interested in helping patient care, provider insight, and instrumentation go beyond possibility and into reality, check it out today at Mammoth.vc. Visit Mammoth.vc today!