The age of the new wealth portfolio ushers in an era of customization and optimization. Investors today demand a diversified array of investment options and a better user experience, requiring a powerful connection between technology and investment solutions. This integration empowers advisors to leverage tax optimization strategies, explore new product structures, and become true partners in achieving their clients' financial goals.

In this episode, Jack talks with Erich Holland, Executive Managing Director and Head of Sales & Experience at SEI. In his role, Erich leads the go-to-market strategy for sales and distribution for SEI's advisor business, executing the independent advisor experience and leading efforts for continued growth and new market expansion. His team helps advisors more intelligently deploy their capital to run more efficient advice businesses and serve their clients more effectively. Since joining SEI in 2010, Erich has gained broad experience across most areas of the firm's advisor business—new business development, relationship management, practice management, and advisor business planning.

Erich talks with Jack about SEI's history as a pioneer in the wealth management industry and its recent tech-enabled initiatives. He highlights SEI's investment management offerings, including its SMA and UMA platforms, tax optimization, and integrated custodial and technology solutions. Erich also emphasizes the need for advisors to specialize, leverage partnerships, and seek progress to succeed in the evolving wealth management industry.

Key Takeaways

[02:04] - Erich's role at SEI.
[05:47] - How SEI began.
[10:41] - The growth of SEI's Investor Manager Services business.
[13:02] - SEI's new CEO.
[16:26] - How SEI participated in the Schwab Impact Conference in Philadelphia.
[19:36] - The future of wealth management technology.
[24:02] - Challenges and opportunities in the growing financial services sector.
[28:36] - Erich's three key takeaways.
[30:14] - Erich's interests outside of work.

Quotes

[20:33] - "If advisors aren't pushing themselves to learn more about new product types, whether that's passive or active ETFs, the individual security structure, the benefits of tax optimization, and then household overlay, then they're leaving the potential for value on the table in a big way for clients." ~ Erich Holland

[21:22] - "Investments are a matter of opinion. Taxes are a matter of fact. SMAs, UMAs, and tax optimization are ways to bring those facts to life." ~ Erich Holland

[28:50] - "The most successful advisors I've ever met have emotional intelligence, a connection to individuals and families, human elements, confidence, courage, and conviction in their planning." ~ Erich Holland

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