On The Circuit, Episode 9: Joel Bruckenstein and Shannon Spotswood

Joel Bruckenstein and Shannon Spotswood step behind the mic today to ask and answer questions with Three Crowns Founder and CEO, Johnny Sandquist.

Joel Bruckenstein, President of T3 Technology, took to the stage at MarketCounsel just a day before this podcast recording – and we’re lucky enough to get a recap right from the main source.

From human vs. computer output to lagging integrations, Bruckenstein isn’t afraid to offer a hot take, plucking up much-needed debates that get to the core question of ‘why?”

Guest host Shannon Spotswood of RFG Advisory brings up one such debate early on, asking why – with so many in the industry working toward creating a more personalized client experience – have we yet to really move the needle on advisor tech?

“I think part of the problem is that advisors don’t always know what to ask for,” Bruckenstein explains. “They’re not technologists – they rely on others, and there’s a lot of misinformation out there. And so if everybody really understood what the end game was and what they were looking for and they could enunciate it, I think we’d make a lot more progress than we have to date.”

Bruckenstein also points to vendor competition as a roadblock to progress, as many vendors prioritize intellectual property over standardization of data.

In part two of today’s episode, Johnny Sandquist chats with Shannon Spotswood about her own MarketCounsel panel on the theme: The Battle to Attract and Retain Talent.

When it comes to creating a positive workplace environment, Spotswood emphasizes flexibility. One way to achieve that flexibility and show appreciation is through creating three and four-day weekends around holidays.

“You’re asking your team to show up and crush it day in and day out. People are working long hours and handling a significant amount of responsibility as we’re growing and scaling our businesses. So give them Wednesday off and Friday off…It’s the easiest way to really say to your employees and your team members, ‘I love you. Take this time with your family and your friends.’”

Spotswood goes on to explore the two pillars of leadership success, constructive criticism and the ability to express gratitude. Click play to listen to the full episode and hear more of her leadership advice and thoughts on creating a positive workplace environment.

KEY TAKEAWAYS

1. Advisors’ inability to articulate their needs and speak with one voice is a significant impediment to progress in the industry. Due to the fact that there are different business models and opinions, it is difficult to reach a consensus.

2. Lack of standardization of data is also a persistent issue because vendors don’t want to lose their intellectual property rights. Therefore, creating data standards is difficult.

3. Some firms are still struggling with fundamental issues like internal workflows, which can make automation ineffective. To solve the problems that advisors want to address, digitization, mass scale, and personalization are the most critical areas to focus on.

KEY TIMESTAMPS AND TOPICS

• [0:29] Joel Bruckenstein and Shannon Spotswood recap his panel at MarketCounsel

• [1:27] Why does advisor tech continue to lag?

• [3:33] What three things are advisors looking for the most, according to Bruckenstein?

• [6:23] How can firms create a positive workplace environment for their employees?

• [7:25] Hybrid vs. remote vs. in-office policies

• [10:24] One secret sauce-ingredient to employee happiness

RELEVANT LINKS

1. T3 Technology

2. RFG Advisory

Join the Conversation at Three Crowns

Enjoyed this episode with Joel Bruckenstein and Shannon Spotswood? Check out our other episodes, or click here to connect with a member of Three Crowns today.

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/.