F2 Strategy's Doug Fritz on why data finally being cool is such a big deal for wealth management

Is the looming threat of winter's coldest stretch getting you down? Do you seek an escape from the harsh, frigid conditions on Wall Street? 

Then allow Financial Planning to transport you back to the dog days of summer and directly into the heart of Surf City.

Kick off the new year with a special look at the Future Proof Festival through a series of interviews with insiders and newsmakers conducted by the Financial Planning editorial team.

In this clip, F2 Strategy Co-Founder and CEO Doug Fritz tells Wealthtech Reporter Justin L. Mack what he's excited about when it comes to the future of wealthtech. There's a greater understanding that it's not the technology that makes an impact, but how you use it. And creative applications of established tech tailored for our industry is something he is always interested in.

Fritz also shared more information about the new F2 Strategy executives-in-residence program announced while Future Proof was underway. The program offers C-level executives a unique opportunity to network and drive change outside of the traditional corporate full-time role structure.

But the thing that got Fritz the most fired up while chatting beachside? Data. Chiefly the fact that proper management of data — something that he has been passionate about for years — has finally become a priority for advisors and firms across the industry.

It's an evolution Fritz feels is long overdue.

"We help people make decisions on technology all the time. And I can walk in a room with a bunch of presidents and COOs and CFOs at a wealth management firm. And I can say, 'you need to work on your data.' And I've got about 25 minutes before they show me the door," he said. "And that's how people have made decisions on technology for a long time …  I wouldn't say shiny objects. But people think the tool is what they need. And data is the thing that empowers all that technology.

"Data helps bring all that together. It's just not the coolest, sexiest thing to sell and talk about. So I'm delighted that it has become a cool thing."

Check out the full interview below.

Future Proof, an event billed as the first wealth festival, attracted more than 2,200 people to Huntington Beach, California, last year. Financial Planning was a sponsor of the event. Dates for Future Proof 2023 have already been announced. The event is slated to return to the beach Sept. 10-13, 2023.