On The Circuit, Episode 5: Spenser Segal and Nitesh Verma

In this episode, Johnny Sandquist talks with Nitesh Verma, Head of Enterprise & Partnerships at Snappy Kraken, about driving real business impact in his new role. Stick around for our second guest, CEO/Founder of Actifi Spenser Segal, to learn about the importance of effective communication in the advisory world in 2023.

After 8 years in various high-ranking positions at Advisor Websites, Nitesh Verma has now shifted to Head of Enterprise & Partnerships at marketing automation company, Snappy Kraken. In this role, Verma spends a lot of time working with advisors to keep communication open between them and their clients – which is crucial to firms’ growth.

One of the most underutilized forms of communication for advisors is texting.

“A good email, you get, you know, 30, 50% open rate,” Verma explains. “Text message is over 90% – everyone reads a text message.”

In addition to texting, Nitesh reminds advisors that email, a great website and social media offer plentiful opportunities to interact with clients.

Spenser Segal dives into the conversation with his thoughts on top technology trends for advisors:

“In the case of advisor experience integration and effective utilization, I think the biggest trend I’m seeing is that the capabilities and options and optionality choices available to advisors have never been greater. Yet their ability to take advantage of those things to drive real business impact, that gap is growing not shrinking.”

Although both advisor and client experience need to be prioritized for best results, Segal points out that advisor experience drives the client experience in advisor-centric business models.

Segal also drives home that data systems and warehouses depend on someone actually looking at the data and taking action from it. He poses questions for firms heavily investing in data warehouses:

“Why am I going to spend the time, energy and money going in here to get this data nice and clean and accurate? What am I going to do with it? How is that going to help my firm grow? How is that going to help my firm deliver a better client experience? How is that going to help me make more money? Most firms don’t do a great job of answering those questions first.”

 Listen to the full episode or reach out directly to Segal to learn more about how Actifi can help streamline your firm’s data processes.

Key Takeaways

1. A huge reason why clients leave their advisors is due to a lack of communication. With a recession looming, it’s more important than ever to keep the conversation going.

2. Text messages are a great way for advisors to stay top of mind with both clients and prospects in real time.

3. A firm’s tech stack should revolve around its business objectives in 2023, considering both the advisor and client experience.

KEY TIMESTAMPS AND TOPICS

• [1:32] With a looming recession, how should advisors approach their marketing moving forward?

• [6:50] How to best approach text message communication with clients and prospects.

• [8:57] Two upcoming events Nitesh Verma is excited for in 2023.

• [11:54] Today’s second guest, Spenser Segal is introduced.

• [12:39] Tech trends and the advisor experience.

• [15:00] How should your overall business goals inform your tech choices?

• [19:14] The importance and challenges of data warehouses.

RELEVANT LINKS

1. Snappy Kraken

2. Jolt! Conference 2023

3. Actifi

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About the Podcast Station Sponsor: Halo Investing

Halo Investing is an award-winning technology platform that disrupts how protective investment solutions are used worldwide. Headquartered in Chicago, with offices in Abu Dhabi and Zurich, Halo is democratizing access to investment solutions that were previously unavailable to most investors.

Halo’s two-sided marketplace connects financial advisors and investors to protective investment products – including structured notes, buffered ETFs, and annuities – offered by leading global financial institutions.

Halo is on a mission to change the world of investing by democratizing access to protective investment solutions through transparency and efficiency with the help of technology.

Important Disclosures: https://haloinvesting.com/disclaimer/.