Join Jason Wenk, Founder and CEO of Altruist, for an insightful session designed for forward-thinking financial advisors. The conversation will explore cutting-edge technologies in the advisory landscape and demonstrate how leveraging these tools can help you scale your practice while adapting to the changing expectations of the next generation of clients.
Transcript :
Karl malco (00:07):
Good morning. Welcome to Financial Planning's Invest conference opening keynote presentation. My name's Karl Malco and I'm with Apex Group, a provider of middle and back office solutions to asset and wealth managers. It's my pleasure to introduce this morning's keynote speaker, Jason Wenk. Today he will discuss digital innovation and wealth tech preparing financial advisors for the future. Jason is a FinTech executive, self-described math geek and investment systems developer who's more than 20 year career in financial services began with a job at Morgan Stanley when he was just 20 years old. Jason is the founder and CEO of Altruist, an LA FinTech company that works to make financial advisors better and more accessible. He's an endeavor, an entrepreneur and endeavor outlier, a direct investor in multiple US FinTech startups and an high impact global startups Via matter scale ventures. Jason will present a session designed for forward-thinking financial advisors, one that will explore cutting edge technology technologies in the advisory landscape and demonstrate how leveraging these tools can help you scale your practice while adapting to the changing expectations of the next generation of clients. Please join me in welcoming Jason.
Jason Wenk (01:25):
Thank you. Alright. Hey, good morning everybody. I guess I was the only one with a bad hair day going on, so I stopped by the Altruist booth and grabbed a hat. All jokes aside, I'm, I'm a little jet lagged, as you can imagine, of coming from LA to New York is a long flight, a few hour time zone change. And so if I'm just slightly less high energy than normal, please forgive me in advance, but super stoked to be here. And I looked at the agenda and I noticed that there'll be a, everybody's going to tell you about the future of financial advice, like 15 of those, right? And we've got a lot of sessions on AI and so I think you'll get a lot of that already. So I actually kind of spent a lot of time the last couple weeks thinking through what could I be maybe a little bit more beneficial or a little bit more helpful instead of just my perspective on AI and where that might be taking us or setting the stage for some hypothetical future of finance. So we're going to take you starting really kind of down a walk. I'd say down memory lane a bit and start by just talking about what innovation really is and there's a big difference between innovation and invention. I think that's important because my observation being in the business for a couple decades is that there's a lot of work on invention, but there's actually not a lot of work on innovation. And so the key distinctions is think about a phone. So a telephone would be an invention, a smartphone would be an innovation, or just a mobile phone would be an innovation. These are extensions of existing products. And so in our space, what we find is a lot of entirely brand new things. And actually that can create a lot of complexity and many of those brand new things, they don't ever reach some type of mass. They don't reach a critical mass, and as a result, they don't make the impact that they could potentially make. So I want to try to walk through a little bit what makes for good invention, what makes for good innovation? Give you some examples outside of our space, and I had to just because I think everyone will do this, I was like, well, I'll do one thing with AI. And so I had Dolly to make this piece of artwork for me. I may, I'll mint it or something like that, but this was a prompt. Of course, the prompt was a very wealthy and happy robot wearing expensive jewelry sitting next to a crying Warren Buffet. And I was able to do that because normally you can't do that. You can't put celebrity's names into it. But since you could just misspell Buffett's name, it will still actually give you a picture of Warren Buffett's a little tidbit for those of you who want to hack open AI. All right, so thinking about innovation, I think probably the best place to start is with Thomas Edison. I think most of who he is by the time he passed away had 1,094 patents. The light that we have lighting this room and a lot of the audio that we're using, these are all kind of things that go back into the 18 hundreds. His early years really even when he was 30 years old, he was already a very famous inventor and he was self-taught. Really kind of fascinating. There's a really great history channel kind of Bio on Edison that I watched recently. Just thought it was really fascinating. But the reason why I bring him up is that innovation in general, we're going to kind of take a little walk through history starting with this area. This would be the industrial age. And what I find really fascinating about ages, and maybe we're entering one now, maybe this will be the AI age, I don't know, but I find that they do more than just change in industry. They change society. So industrial age completely change society. The innovation age completely changed society, and I'm always curious what will be the thing, the innovation or the invention that has reached far greater than just digitizing paperwork that's not exactly far reaching and world changing, right? It's good innovation, I suppose. It's not one that's going to rebuild the middle class or something like that. So how do we make sure that we innovate in a way that's really life changing using my own travel journey to get here? Roughly a hundred years ago, it would've taken five days by train to get from LA to New York or vice versa. That would've been the most expensive way to get across the country, but also the fastest, if you were willing to take 10 days, you could drive across the country and commercial aircraft had not yet been invented. Pretty wild to think about how in 100 years how much things have changed. Of course, now it probably would take 10 days on train, twice as long on train. It'd be probably the cheapest and least comfortable. But nonetheless, things have changed quite a bit. So keeping thematically on transportation, I'm from Michigan, so if you live in Michigan, you grew up Michigan, you're going to learn a lot about Henry Ford, whether you like it or not.
(06:20)
But you know what you see here in these images, this is an assembly line. And I think what's interesting about Henry Ford is he didn't invent the automobile. He actually innovated. So innovation can actually completely transform society. And oops, I pat fingered the rail here. So when you think about, well, how did that happen? So in 1910, it took about 13 hours to manufacture a Model T automobile, and the price was very unaffordable. Most people couldn't afford them. It took working people essentially 12, 14 hour days paying them the equivalent of in today's dollars around six or $7 per hour to make the automobiles. And consequently, they could only manufacture, I think it was, I have in my notes here, but a total of about 30,000 automobiles per year. And when the assembly line was both sort of invented, if you will, or the manufacturing price was innovated by introducing the assembly line and then iterating on that and refining that, it took about 10 years in total. But the production went from in around 30,000 to around 730,000 automobiles per year. The price got cut in half. But one of the most important innovations actually was what happened for workers for wages. Fortis, who introduced the eight hour workday, and he was famous for creating what they called $5 an hour for eight hours a day of work. This was more than double the wage people be were paid prior and their amount of work in the day went down by about 35% and it set an entirely new standard for manufacturing in America. Almost everybody had to adopt this process of using assembly lines, paying people, living wages, reducing the workday. It essentially built the middle class in America. So when we think about something as simple as, well, we as created assembly line, well what did that do? Again, it also made cars affordable, so all sorts of people had access to them. So we can now travel and really America completely transformed it really because of an assembly line, not because of an automobile, but because of the assembly line. It's pretty cool kind of taking this forward, moving out of the 1920s and into the 1960s, some of you may know Gordon Moore. Gordon Moore is, he's the co-founder of IBM. And before he started IBM, he was made an observation really about microchips. You see these microchips, you can kind of see little dots in these chips here. So these are different nodes on a chip and these transistors, he was noticing that per square size of a chip that you could double the number of transistors every 18 months. This was happening like clockwork, right? So he kind of makes this announced known as Moore's Law, and after some years of observing, he said, well, it's probably going to be more like two years. This was by 1973. So two years became the new standard. This was that every two years you're going to be doubling the number and this would allow electronics to essentially get cheaper and faster really rapidly. So most of us in our lifetimes, we know televisions used to be really, really expensive. Now they're not. They're actually really, really inexpensive computers, very, very expensive, used to be very, very expensive. The other thing that's interesting about computers is they become obsolete very quickly. If you have a computer that's more than three or four years old, it largely becomes obsolete, has a hard time actually running modern day software. And this is all because this doubling effect had just kept going on for decades. So it went through the seventies through the eighties. Now by the year 2000, Gordon Moore in a keynote said, Hey, he thinks that Moore's law will come to an end. And he really had two reasons why. So one is that the cost of the innovation was getting too high relative essentially to the demand, and there was too much competition. And so he actually predicted a date. He said by 2017 he thought Moore's Law would no longer be relevant. We wouldn't be able to continue doubling. Very interestingly, this is really kind of a serendipitous year. He passed away this year in March and in May, Nvidia came out with the G 200 super chip. For those who aren't familiar with super chips that Nvidia makes, this is what powers all of the AI pretty much that you all might be using designed to run supercomputers and AI. And they run at a rate, they can do computation points at a billion times, a billion points per second. This is a seven time improvement over any chip that had ever invented before. So Gordon Moore end up being wrong. It's actually continuing. It's more than doubling actually. And this year it's actually a seven X improvement. And so y'all probably have seen Nvidia stock as a result of some of these innovations, but this is kind of like how innovation happens and what's happening because of it really can change the world. Another example, I think this one's pretty obvious. I think most of us, this is maybe our version of Edison and love them or hate him for lots of different reasons, but from an innovation perspective, Elon Musk, and specifically in this case Tesla has really changed the automobile sector, but they're also changing space, they're changing power, they're changing a lot of things actually. And they're also one of the leading AI companies in the entire world. And I don't think a lot of people realize that their models are incredibly sophisticated and they have huge swaths of data. But what I think is really interesting about the speed of innovation and how quickly it can happen, we might all recognize this more than we talk about Henry Ford, or we might recognize this more than if we talk about Gordon Moore because in 2006 is when Elon Musk, he penned a blog post, kind of a funny one. Of course, guy, I think he's particularly awkward and he attempts humor in a way that sometimes is very not particularly tasteful, but nonetheless, he penned this blog, it was actually funny, so I'll read it. It's pretty comical, but it was called, I believe the Tesla Motors Master Plan. And then in parentheses is a secret Tesla Motors master plan in parentheses, don't share this, of course, he published it on his blog and the whole world has seen it's been read tens of millions of times, but it really had four main points. He said, look, here's what we're going to do. This is in 2006, mind, so 17 years ago, it says, Hey, the master plan part two is really straightforward. What we need to do is we need to make a very, very expensive supercar and we're going to make enough money from selling that really expensive supercar to be able to build an affordable automobile, still be expensive, it'll be affordable. We'll take the profits from that to make a really affordable automobile. And then it's really important as we're building these automobiles that we build a network that can power them and ideally that we can power these cars with no emissions, so entirely through solar if possible. So that's what he predicted. And he said, obviously his predictions not particularly high hit rates. It's about the same as economists, but it's remarkable actually how accurate he was. Right? 17 years later, he builds the road, are actually before that. Then the Model S, model X, three Y, et cetera. And what's really crazy is if you live in California like I can get a brand new model, I think it's three now after rebates, incentives for $26,000. It's a very affordable car. I think underrated in the work that they've done around building a supercharger network and also electrifying homes is that the price per kilowatt hour of electric power has gone down 99% since the year 2006. It's 34 cents per watts, incredibly affordable. Now, it's actually the most affordable form of generation generating power in America right now. It's really remarkable. So these are just examples of innovation. So when I think about our industry, and I try not to be too critical necessarily, but I think we could probably do a little bit better because we're not sending people to outer space necessarily.
(14:15)
And when we're certainly not developing GPU CPU units that can power etcetera multiples, which is quintillions of processes per second. So what can we do? So I think it's important that we think about our space and we understand how to build innovative technology, how as advisors, we can play a role in building innovative technology. And I think to do that, we have to break down a little bit of where we are right now. I thought about putting a bunch of charts on here, but I don't think that's really, but because I think most of these statistics, there's no point in even putting the footnotes on there. And most of you know that if you looked at asset management, asset management has underperformed, active has underperformed passive for all of our lifetimes, but it has gotten slightly better. We're actually only underperforming the last decade by just under 1% compared to if someone just bought passive funds and held them for the last 30 years, it's one point a half percent. So we've managed to, on the asset management front, we've managed to innovate our way into 80 basis points per year of better outcomes for our customers. And I suppose that's good. That is, that's progress. And sometimes it's progress and not perfection. But some of the other things that have happened over this time period are really alarming actually. And I don't know if anyone else has a, a personal story maybe that gives you a reason for being in this business. You know, chose wealth management, you chose being a financial planner, you chose building tools for this industry. But for me, my family never had a whole lot of money. I'm from an area where no one has any money. It's very rural, there's no financial advisors, no financial planners. And I always thought like, gosh, it sure would be nice if people like the people I grew up with could get access to real good financial help.
(16:09)
They could get access to someone could help them manage their money, someone could help them avoid catastrophic debt. Someone could help them navigate insurance choices. So those things didn't really exist then. They don't really exist today unless someone's willing to go on the internet, but we're getting closer. But unfortunately, here's just some stats I'll just read. So I don't like butcher them here, but when things have happened since 1990, so this is going back a little north of 30 years, but just to keep the data straight income in America's up 62.3%, that's great. Downside is after inflation. That means negative 34% buying power. That's because homes went up 350%. Health insurance, 400% because of these sort of imbalances. Personal debt in this country's up 155% national debt's up a thousand percent. And personal wealth in this country is only up 78%, even though the S and P five hundred's up 1350%. So I can say I think that we could probably do a little bit better. We're not putting people on the moon, you're not putting people on Mars. We're not solving global energy crisis. But we could probably do better than that. That's the level of outcomes that we've produced, and I think we should be proud of all the good things that we're doing, but I think we should just challenge ourselves to do better. That Edison quote that started was, there has to be a better way to me paraphrasing it, find it right? And so I think that's really, really important. Hopefully that this conference, you'll find some really great ways to be part of perhaps that next wave of innovation. So what does it take to innovate? I think it's really important that we kind of give a framework, this is something that I might use as I'm building my own FinTech company, but really anybody in any practice, whether you're a practicing advisor planner, you work in a back office, you're an asset management company, write a fellow FinTech company. These rules I think could be particularly helpful. So why do some things work? Some things don't, right? So why did you know the Tesla master plan actually work? What was it that is different there versus maybe some of what we might perceive as innovations here? So one is this perceived and real value. So it actually has to provide real value and ideally it's massively different, a huge order of magnitude or better step up change in terms of both real value and perceived value. So perceived is important because if people don't think it's valuable, they're never going to adopt it. And we'll kind of cover adoption in a minute. And this is where a lot of things, like I'd say reasonably good ideas die as they never get adopted because they didn't have the ability to address a large enough populace cost. Interestingly, I feel like I've been in this business so long that I've heard so many people say things like Cost is only an issue in the absence of value. And I'm here to tell you that in every single prior innovation, all these massive innovations that change the world cost gets compressed substantially, hugely, massively. And you see a little computer, this is the original Vanguard website, by the way, from 1996 when they launched it. They're a great example of how do you change the world in this industry? Well, they dropped the prices in this industry, their average expense ratio is essentially 90 plus percent cheaper than what the average expense ratio was when they were started 50 years ago. So low cost does actually work. It's hard to make it work, but it does work. If you want to do, again, these massive, big changing things, things have to be easy. So if it's not easy, it's too complicated, too hard, you're only going to get early adopters, you're never going to get mass adoption. So nothing will ever really scale. And then you have to be able to, as a consumer of anything, any type of innovation, you have to be able to get access about it really easily. And then finally, it has to be socially acceptable. So you're like, okay, telling your friends about it. But this is really a very simple roadmap. If you want to reach that big massive scale, this is really what it takes. And a lot of things in our industry, unfortunately, they fail, the step one, perceived in real value, they fail in step two, cost. They fail on ease. They're just hard as hell on complicated as all get out. Craziest dashboards with 10,000 buttons. Nobody ever wants to push 'em a hundred page plans, all this stuff. So we have to do a lot better job of these things if we actually want to see real innovation. One of the things that happens, I think it's interesting there, there's been a lot that's really great and we should celebrate, but when some things don't quite work out, we kind of wonder, well, why didn't they work out? Why didn't this entirely change the world? So this is the technology hype cycle. We're in one right now for sure, a hundred percent with AI. And you got to see, it's really simple. There's an innovation or invention. It's the bottom left, super high inflated expectations. The vast majority of what we all think might happen, it probably will not happen. This is the same of almost every technology. So eventually things come back to reality and then people are super, super disillusioned. Eventually you realize, hey, there might be some utility, some of these things. And that kind of brings up a slope at this point. There's pretty well-formed market, and then you have stable kind of plateau of innovation. I'll give you some really simple examples of this. I think robo advice was one of those. If you've been in this business for a decade or longer, you probably remember 10 years ago, every one of these conferences was all about robo advice or automated investment platforms. And it's going to take over the world and then everyone's going to use them. They're going to be so affordable and every advisor better have a robo option if you want to serve the next generation and blah, blah, blah, blah. And so it created all this expectation. Tons of money came pouring in the VC's, money came in our industry for the first time in a long, long time. Number of companies were built, really only a couple of them are of any meaningful value. Now, inflation expectation too, high reality was this wasn't that complicated and it probably wasn't even worth 25 basis points. And then eventually Vanguard and Schwab got into the space, completely crushed the idea of there wasn't a big enough mode around it. And then the plateau productivity kind of tapered off. In the last five or seven years, we've not seen anything particularly innovative out of automated investment platforms. All the innovation happened. Quick, early, big, high boom bust recovered. We realized, hey, they do have a very interesting utility. And in that utility, they're going to have a simple amount of innovation. I think crypto is one where again, very similar, super, super hype, ridiculous hype cycle and then massive crash. Now people are just trying to figure out, well, what is the actual utility? Where will it actually fit in? What's the actual long-term viability of this? And again, at some point there will be a much more boring but stable future perhaps for digital assets. And this is because again, of this innovation adoption lifecycle. So what happens with almost any new great technology, whether it's again an innovative technology or a brand new invention, is there's always going to be some super early adopters. These are the innovators you can see in the bell curve. And then those are followed by early adopters. Now, if you never can get to early majority and you can never get to a late majority and you can never get to laggards, your innovation will never happen. You'll never have that huge potentially world changing, industry changing new industry standard. That won't happen. You can still build probably a reasonably okay company. I think in our industry, specifically FinTech, where I live most of my life, we have a whole bunch of reasonably okay companies that are producing reasonably okay products that in particular utilities, they might provide some particularly outcomes for clients. But it's very clear that we've not yet built the really big idea, the really huge, massive innovation because of the actual results. I shared the results of Henry Ford's innovation that were remarkable shared the results of Gordon Moore's innovation, remarkable the fact that we're in this room with these lights in this sound and these audio, the visuals, Edison's innovations were remarkable, could go on and on about what remarkable looks like. The outcomes are very, very obvious. We've not yet seen the outcomes here. The outcomes are getting worse in our fucking industry. It's ridiculous. Where people have less money, they're more broke, they're more in debt, and they're really not paying a whole lot less. And most of the industry is so hyper focused on just the innovators, which in this world would be at the rich people that the whole world doesn't even benefit from our innovations. So we probably got to get a little bit better at this stuff. And this is, I think what's really, really important about, okay, the next 30 years I'm already getting, I'm a hundred percent middle aged at this point in my life. And so I'm going to be an old man in 30 years for sure. And I really, really hope that we look back 30 years from now, we're able to say what household debt is on the downturn.
(24:22)
People are actually getting more of. If there's great capital market returns, people getting more of it, fees are fair, people are getting great outcomes relative to what they're paying and way more people get access to advice. We have to be able to serve the early majority, late majority. We have to get way out there in this curve if we want to really, really actually make an impact. And what's wild is if we do that, we actually as an industry have the same opportunity that Henry Ford did. This is how you rebuild the middle class in America, is that you actually make advice accessible to everybody. So this means young people, people from all walks of life, all backgrounds, lots of different levels of income. But to do that, we need to do again, massive innovation, Moore's law level of innovation where we're making these super fast cycles of access, right, available to people. That's going to be hard. So how do you do this hard stuff? It's actually quite simple in some respects. I have the good fortune of one of my board members is a guy named Bill McNabb, who some of you may know, he was the chairman and CEO of Vanguard until just a few years ago. And I asked Bill often, I say, Hey, give me some advice, bill. You're like a legend. How do I become at least average? And so he gave me some really great advice as a leader, and I think we all have an opportunity to lead. There's always some people who are going to follow us. So his advice was, Hey, a great leader does three things really well. It wasn't these three things, but they do three things really well. He said they establish the mission, the mission at hand, but maybe it's the mission of your organization, it's the mission of your work, why you're doing what you doing, why it's so important. But they established the mission, they share the mission and they hold people accountable to the mission. So he is like, that's basically what he did. He's So I spent 40 years at Vanguard, and this is basically what I did. I helped build the mission, spread the mission, held my team accountable to the mission. That's how we accomplished our goals. I think that for us, I think more broadly in our space, this might be my version of those three things. I think that the mission is really simple. These are the things I think that make up the mission. If we really want to have that massive change where we completely change the industry, we change the lives of millions of people, potentially rebuild the middle class, close the wealth gap, really make a big difference. But first is we have to make advice better. Again, I not trying to beat up on ourselves, it's hard enough to do this job. Last thing you need is some idiot California telling you that you have to do better. But I can tell you that I want people to do better with their money. I don't like the statistics that we keep seeing over and over again showing that people are underperforming and they're building up mounting debt that they don't have really nearly as much wealth growth as what the broader capital. I don't like those statistics. I want those things to change. I hope you all are with me. But that means we have to actually produce better results. We have to actually get better outcomes. Probably means we have to focus on some different things. And I think that's okay. And I don't know what those things are yet. I don't know what those innovations are exactly yet. But I think that's really important is that we acknowledge we have to do better things have to become more affordable. Interesting debate, and I'm not here to debate fees because kind of irrelevant to me, but I think there's actually two other camps that I'm really curious have been following these two camps. One is people who do believe, Hey, I should probably not charge so much if I have technology that allows me to serve more people. Perhaps I can drive my cost down, which more is than made up for in volume. If you wonder, why did Henry Ford raise the wage so much and why did he shorten the workday so much is the margins became ridiculous in his industry when they could manufacture 250 times the number of cars and they could do it 90% less time, that was remarkable. They made so much more money, he shared the wealth, if you will. So I think that we need to be thinking about that using Vanguard as an interesting proxy. And they don't pay me to say this. I find it fascinating. Their growth story is quite remarkable to me. But the number one thing they focus on, they have a corporate flywheel. If you've all read good to great, their number one thing is have the lowest cost in the industry. They believe the lowest cost drives the best performance, drives the best outcomes to their customers. They become very happy. They add more money to their accounts, which gives them more money to low compressed fees. And they just spin the flywheel, if you will. So I think that being affordable is important, but also we know that innovation to be broad and help lots of people, it has to be affordable, has to be lower cost. So I think this notion of, again, some people might believe that the other can't by the way is well, we should just do more with the time savings. We can provide more services and do more things for people and spread ourselves more thin. And that's how we'll justify our value and what we charge because we're going to be doing lots more stuff. And that might be true as well, by the way, but that won't scale to 400 million people or something like that. And then the last thing is we have to today make things accessible to everyone. Again, the sort of curve of adoption. We tend to in our industry almost have products that focus on that really high end kind of client. And then there are some products out there that actually focus on beginner clients like an Acorns or something like that. But there's actually not much doing particularly well in the vast majority of people. If you're looking at median level of wealth, not mean wealth. So the mean is going to still be essentially the top 10, 15% of all wealth. Whereas the median is like, well, what about person 190 million or something like that? What are we doing for them? And if we can't get to that person, then we're not going to again have this big industry changing kind of innovation, which I think can be largely driven by a combination of tech and people. So kind of closing off, I think it's really important that this was the Edison quote started with, I think about the work that I do every day, and I'm really, really lucky to be able to do it. But this is how it started for me. It's really serendipitous too that I'm here in New York when I was being announced, it was very, very lovely. My staff must have wrote that Bio, by the way, so very, very lovely. But that job I took was here in New York. I'm a kid from a farm town in West Michigan. I'd never been on an airplane before. I'd never even left the state of Michigan before. And I got hired at 19 years old. I was a self-taught computer programmer and I got to come move to New York City and work at the time in the World Trade Center. And what's interesting is if you come into this industry, I'd never taken a finance class in my life. I didn't know anything about personal finance. I don't think anybody in my family had a net worth over $10,000. Most had negative net worth. They had more debt than they had equity. And so I didn't really have much reason to know much about money. But as soon as I got exposed to that, all of the wealth and the way things worked, I kept asking this question, didn't really realize it was not an original thought. It was really something that Edison had asked for hundreds of years. But I suspect we've all had this thought at least one time in some paraphrase way or another, right? There's got to be a better way. There's got to be a better way. There's got to be a better way. And so kind of my challenge I suppose, I think it's really important that if you're at this conference, you're going to be exposed to some incredible innovations. People will be forecasting things about the future that I think are going to be probably in some level of high degree of accuracy. Some may not. But I think what's really important is that if we want to figure out how we all play a role, we have to actually embrace things, spread the message, kind of buy in. And what we have to buy into is that there has to be a better way, unless you want to have a repeat of the last 30 years, which as I pointed out now, two or three times didn't go pretty well for the average person. And that's really it for me. I appreciate everybody's time. I'll get us back on schedule by finishing about 57 seconds early. If you want to learn more about the work we're doing at Altruist, by the way, you can step by, we have a booth. We have some really awesome people here. And if you have been on our website or you know anything about what we do, you notice that our actual corporate mission, the work that we do every day, our name of our company called Altruist, is make advice better, make it more affordable, make it accessible to everybody. So I hope that whatever's doing, you find your version of that. Create the message, spread the message, hold people accountable to it, and hopefully 30 years from now when we're all a bit older and grayer and whatnot, we're really pleased with the work we did. So thank you everybody. Have an awesome conference. Can't wait to see some other speakers. Cheers.
INVEST 2023 Opening keynote address: Digital innovation & wealthtech — preparing financial advisors for the future
June 23, 2023 1:27 PM
32:30