Happy Friday the 13th!

I’m writing this from my dining room table, coffee in hand, in between a whirlwind of holiday events.

This week has been electric—launching new tech with our product team and seeing advisors across the country put it to work.

It’s the kind of work that makes a real difference and keeps me fired up.

Let’s dive in!

1. AI is Great, but Creativity is Still in the Driver's Seat of Financial Advice

2. Q1 Data & Tech Strategy Sessions Available

3. Milemarker Partners with Wealthbox

4. Angeles Wealth: Storytelling As The Key To Organic Growth 🎧

5. Bookmarks

   1. SEI Acquires LifeYield

   2. Available Data Strategy Sessions in Q1

   3. The 12 Days of OpenAI

6. Milemarker On the Road ✈️

Now, if I can only figure out which light is out in this string…

AI is Great, but Creativity is Still in the Driver's Seat of Financial Advice

Did you know that over 551 million people worldwide use Spotify every month?

Spotify has more than 100 million users in the United States alone, making it the industry’s top market. These numbers make one thing clear: Spotify has become a cornerstone of how we experience music globally.

Considering how many of us have iPhones with Apple Music built-in natively, Spotify has proven to be a superior alternative to the native option for 29% of iPhone users.

And if you’re one of those millions of users, you probably received your Spotify Wrapped in the past few days—a year-end review of your listening habits, highlighting your favorite songs, genres, and surprising trends from 2024.

For years, Spotify Wrapped has been a beloved moment, a time to reflect on how much you looped that one song in April or rediscovered music from 20 years ago.

It’s become a hallmark of Spotify’s brand, something other music services just haven’t matched.

But this year, something felt different. If you’re like me, your 2024 Spotify Wrapped was a little… underwhelming. Bland. Impersonal. The creativity and spark that once made Spotify Wrapped an event seemed absent. And there’s a reason for that.

This year, Spotify leaned heavily into AI to generate Spotify Wrapped. While AI can be a powerful tool, in this case at least, it missed the mark. The result? It is a lifeless, uninspiring experience for what has traditionally been one of Spotify’s standout brand moments.

What Advisors Can Learn from Spotify’s Misstep

I don’t think AI is the villain here. It remains an incredible tool that can process data, identify trends, and even generate content faster than any human. But here’s the catch: AI is an augmentation, not an autopilot.

Authentic creativity requires humanity. It’s what enables us to blend inspiration, emotion, and nuance into authentic experiences. When companies rely too heavily on AI without a creative human touch, the result often falls flat—just like this year’s Spotify Wrapped.

This isn’t just a lesson for Spotify; it’s a reminder for all of us. Whether we’re delivering a product, building a client experience, or crafting a message, the tools we use should serve to enhance our creativity, not replace it.

If the AI is doing your work for you, what value should you add?

Knowing your clients puts you in their shoes. You can bring companions, but you should remain the driver.

Your car may be on autopilot. But rather than falling asleep, hoping you get yourself and your passengers where you are supposed to go, you have a responsibility to lean into the more subjective aspects of the job you already have.

The Balance Between Tech and Creativity

Here’s the challenge: In a world that increasingly values speed and automation, how do we ensure we’re still bringing creativity to the table? The key is balance, review and humans. Technology can help us see patterns we might miss, ask better questions, and get answers faster. But delivery—the human element—is where the magic can happen.

As we plan for 2025, think about how you can use technology to enhance your creativity:

• Slow down to listen. While tools like AI can speed up repetitive tasks, they should not replace the time it takes to understand your clients or your audience truly.

• Ask better questions. Curiosity is the foundation of creative problem-solving. Use technology to dig deeper, but make sure your solutions are tailored and personal.

• Transform insights into action. Whether it’s a client experience or a creative project, always add the human touch that makes it unique.

What’s Next for Us?

Hopefully, your Spotify Wrapped was better than mine. And maybe you, too, rediscovered some old favorites this year or listened to just as much Canadian hardcore as I did (because that’s what I grew up with). But as we move into 2025, let’s remember the lesson Spotify inadvertently taught us this year: Don’t let the machines define who you are.

The future lies in tensely balancing these two ideas—harnessing the power of technology while embracing our unique, creative perspectives because that’s what truly sets us apart.

— Jud

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New Integrations: Wealthbox + Milemarker

This coming week, I’ll be cohosting a webinar with our friends at Wealthbox. We will use this time to walk through how advisors can bring together Milemarker and Wealthbox to gain greater control over their data and deliver a better experience for their firm.

On the Pod: Storytelling As The Key To Organic Growth

Episode 071: Building a thriving business is about playing the long game—prioritizing sustainable value creation over fleeting, short-term wins. Organic growth strategies lie at the heart of this approach, leveraging the power of client referrals, collaborative partnerships, and the ability to craft compelling stories that resonate with clients. For advisors aiming to attract ultra-high-net-worth clients, focus on telling, not selling, and offer genuine value without the pressure of asking for referrals.

In this episode, Kyle Van Pelt talks with Jonathan Foster, President and CEO of Angeles Wealth Management. Jonathan is a senior leadership executive with experience in all three major wealth management channels: wirehouse, registered investment advisory, and independent representative marketplaces. They discuss the strategies and philosophies that drive long-term success in the RIA space. Jonathan shares the three ways to grow organically, how to attract ultra-high-net-worth clients, and the importance of long-term value creation. He also explores the key factors driving RIA's valuation and the challenges of democratizing alternative investments.

In this episode:

[02:34] - Jonathan's money moment

[03:54] - Founding Angeles Wealth Management

[12:27] - Three ways to grow organically

[15:44] - How to attract ultra-high-net-worth clients

[18:19] - The importance of long-term value creation

[22:31] - Leadership's role in nurturing team members' well-being and growth

[26:06] - The challenges and rewards of entrepreneurship

[27:47] - Key factors that drive the valuation of an RIA

[30:38] - Flexibility and adaptability in business planning

[36:16] - The future of the financial services industry

[36:29] - Democratizing access to high-quality private investment

[40:57] - John's Milemarker Minute

Key Takeaways

1. Building a successful business prioritizes long-term value creation over short-term gains.

2. Organic growth strategies include referrals from happy clients, collaboration with colleagues, and hiring skilled storytellers.

3. When attracting ultra-high-net-worth clients, it's important to "tell, don't sell" and focus on providing value rather than asking for referrals.

⚡️Bookmarks

SEI Acquires LifeYield: Strategic Insights and the Future of Unified Managed Households

I’ve been a proud advisor to LifeYield since 2018. This week, their acquisition by SEI was announced - marking a new milestone in their history and a great opportunity for SEI to transform tax optimization.

Jack Sharry led the announcement as part of WealthTech on Deck, where he was joined by LifeYield co-founders Mark Hoffman and Paul Samuelson to discuss SEI's acquisition. They explore the strategic implications for LifeYield, the integration of multi-account management, and the potential benefits of Unified Managed Household for clients and the broader industry.

Available Data Strategy Sessions in Q1

I have two sessions available in Q1 2025 to work with advisory firms on defining technology and data strategy. Space is limited, but I’d love to discuss whether this can help you make meaningful progress.

These sessions are built to align your team around technology, assess your current strategy, and design a path for you to break through barriers that may be hamstringing your scale.

Send me an email if you’re interested: [email protected] 

OpenAI’s 12 Days of Christmas

The team at OpenAI is dropping hits each day with their 12 Days of OpenAI. Things are changing quickly, and so many of these advancements impact how we work, compute, and craft the future.

Milemarker on the Road
Catch my team on the road at the following events or cities:

1. December 17-18 - Birmingham, AL

2. December 19 - Philadelphia, PA

3. January 21 - Charlotte, NC

4. January 28 - New York, NY

If you’re in any of those cities and want to arrange a meeting time, reply to this email, and we’ll get something on the calendar.

Jud Mackrill