The Role of Custodians and Digital Marketing in Advisor Efficiency, with Tony Stich of Entrustody

“On the Circuit” is a podcast where conversation sparks innovation, hosted by Johnny Sandquist from Three Crowns Marketing. This season, his guests include industry conference attendees from across the country.

Why settle for good enough when the potential for more success requires very little adjustment? By applying digital marketing tactics — podcasts, websites, or videos — advisors can attract a larger pool of prospects.

What’s the holdup? Tony Stich, Chief Revenue Officer of Enstrudy, says it’s a shining example of the ‘why fix what isn’t broken?’ mantra.

“There’s a lot of fear [and] there’s a lot of hesitance,” Tony said. “And there’s also a lot of, ‘well, it’s worked for me so far.’” 

Embracing and implementing modern marketing tactics is just one way advisors can revolutionize their business. 

Choosing a custodian with an easy-to-use, tech-enabled experience is another key to embracing a modern client experience. Entrustody is that custodian, Tony says. The digital-first custodian offers custody as a service. Advisors can partner with Entrustody while maintaining their tech stack and workflow and improving efficiency.

By partnering with a custodian that’s built with the advisor and end investor in mind, clients enjoy an onboarding process and overall client experience free of friction.

“One of the biggest challenges we see in our industry is minimums,” Tony said. “The idea that, ‘you need a half million dollars to work with me,’ I don’t blame the advisor for that. I blame the technology stack that the advisor is using.”

Tony joins us for episode 45 of “On the Circuit” to discuss Entrustody’s emergence in the industry as an advisor- and client-friendly custodian and the importance of digital marketing. He talks with host Johnny Sandquist in a conversation recorded live from the Fearless Investing Summit in October 2023 in Miami.

Click “play” above to listen to the full episode. To hear from more industry friends and experts, subscribe to “On the Circuit” wherever you listen to podcasts. 

Key Takeaways

1. Quality technology stacks shouldn’t restrict or create barriers to entry for potential investors.
2. Custody can be offered as a service, which allows advisors to maintain their workflow while still offering a seamless onboarding experience.
3. Digital marketing creates a larger pool of prospects for advisors to attract and qualify as potential clients. 

Key Timestamps and Topics

• 00:02:44 – What is the current state of RIA custodians and what should advisors look for when partnering with a custodian?
• 00:05:26 – Should the custodian tech platform be the hub for all other tech?
• 00:08:11 – The case for switching or adding custodians
• 00:11:06 – Advisors aren’t embracing modern marketing and it’s hurting their business growth
• 00:15:10 – The number one thing advisors should do to keep their clients fearless

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, premium website design, branding, video marketing 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.