The wealthtech word of the week is experience.
For industry veterans Tom Rieman and Preston Cherry, experience is the driving force behind their newly announced startup Practice Intel. A growth platform crafted to help advisors and clients get on the same page, the ultimate goal is to give everyone who takes a part in the planning process the "ideal advice experience."
But it starts by knowing what you don't know, regardless of how ugly the truth may be.
Practice Intel's interpretation of that truth is called the "Relationship Quality Index," or RQI. It's basically a system that looks at multiple metrics to grade how advisors are delivering advice.
High scores mean you're crushing it, and low scores mean you may be at risk of getting crushed. But both outcomes offer opportunities to know exactly what your clients think of the work you're doing.
"This provides that ability to go to their clients, get the feedback they need and have that irrefutable moment of truth — to say I'm doing a pretty good job, but maybe I'm not hitting the nail on the head every time." Rieman said.
Also new this week, check out the experiences that have shaped the career of Advyzon CEO Hailin Li. Typically one to shy away from the spotlight, the soft-spoken wealthtech leader's accomplishments and passions move center stage in a new profile from Financial Planning.
Anything else on your mind? Drop me a line at justin.mack@arizent.com. Have a great weekend, everyone!
Regards,
Justin |  | Justin Mack
Reporter, Financial Planning
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| By Justin L. Mack 9 min read | A decade after taking a chance to bring his wealthtech vision to life, the soft-spoken leader who values the work as much as the reward still wants to get his hands dirty. Read story → |
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| | | By Justin L. Mack 5 min read | The Practice Intel growth platform made its debut this week with some well-known names at the helm and a mission to quantify crucial parts of the advisor-client relationship. Read story → |
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