The Art of Investing in Technology and Talent, with Corey Westphal, CEO and Founder of Mobile Assistant

As individuals in the wealth management industry, we excel at advising people what to do with their money. But how did we get here? Money Chronicles aims to personalize the industry with featured guests sharing their unique stories and experiences with money, from piggy banks to 401(k)s. 

Corey Westphal learned his work ethic from a young age. First, it was the farm chores — helping his siblings take care of sheep and horses. Then, he turned to sports and what he considers his first real job, offering tennis lessons. 

Now, as CEO and founder of Mobile Assistant, Corey uses those early lessons to fuel his drive to create the wealth management industry’s leading human-powered dictation solution. 

What began as a joint venture with his father in the medical industry quickly transformed into an innovative tech solution built to exclusively serve the needs of high-performing financial advisors and their teams. And with an Open API on the horizon, Mobile Assistant is positioning itself to become even more valuable to the advisors it serves.

Corey joins co-hosts Johnny Sandquist of Three Crowns Marketing and Torie Happe of Holistiplan to discuss learning work ethic in your first job, investing in technology and the power of human oversight.

Click “play” above to listen to the full episode. For more personal money stories from industry friends and experts, subscribe to Money Chronicles wherever you listen to podcasts. 

Key Takeaways

1. The sooner kids can learn the concept of exchanging goods and services for money, the better. 
2. Companies are shifting tasks to AI for simplicity and cost, but human oversight leads to more accurate and trusted results.
3. Technology is a necessary investment in our world of “innovate or die” but what’s more critical is hiring the right people to ensure innovations align with company values.

Key Timestamps and Topics

• 00:01:38 – Corey Westphal explains how he transitioned his startup, co-created with his dad, from a medical transcription service into a resource for financial advisors to better serve their clients 
• 00:06:39 – Charging for tennis lessons is one of Corey’s first experiences with money. He realized his skills and time could have a monetary value attached to them. 
• 00:11:00 – The exchange of goods and services for money is an important concept for kids to learn, and the earlier they can, the better.
• 00:16:18 – Corey’s worst money mistake cost his company hundreds of thousands of dollars. But what did he learn from it? 
• 00:19:01 – Corey shares the latest innovation from Mobile Assistant — open API that will allow advisors better access and value.
• 00:24:26 – Mobile Assistant is here for the long haul, as Corey has witnessed how transcription services that discard human oversight risk less accurate and trusted data and notes.

Relevant Links

• Download our free ebook, The Advisor’s Guide to Starting a Podcast
• Connect with a member of our team

About Three Crowns

Three Crowns is a full-service marketing partner, providing the financial industry with high quality custom blogs, website design, branding, podcast production and more. We help financial advisors and fintech companies find their message and amplify their voice. From strategy to click-worthy content, to SEO optimization and social media promotion, our team is ready to help you feel confident in your communication. Click here to connect with a member of the Three Crowns team today.